Impact of green investments, green economic growth and renewable energy consumption on environmental, social, and governance practices to achieve the sustainable development goals: A sectoral analysis in the ASEAN economies

The study inspects the seven sectors of the Association of Southeast Asian Nations (ASEAN) economies to explore the impact of consumption of clean energy, green bonds, and green economic advancement on environmental, social, and governance (ESG) practices to attain sustainable development goals (SDGs). The ESG aspects are individually explored from 2011 to 2020. It is observed that the key determinants of ESG practices are green economic advancement, clean energy, and green financing. Moreover, these determinants positively and significantly track the ASEAN economies toward attaining SDGs. The determinants play a vital role in sustainable advancement even when explored individually using different regression models. The linkages between the explanatory and outcome variables remain consistent after controlling other variables like climate regulatory quality, foreign direct investment, and gross domestic product. The study provides solid implications for stakeholders, environmental activists, and governments of ASEAN economies. The findings also infer sustainable business practices via creating an association between ESG practices, green economy, clean energy, and green financing.