The Independence of ESG Committees in Listed Companies

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Key Points

The study aims to analyze the gap between formal and substantial independence of ESG committees in companies.
In-depth interviews were conducted with 7 publicly listed companies operating ESG committees in South Korea.
Utilized a grounded theory approach to collect and analyze interview data.
Decoupling of ESG committee independence occurs due to three structural conditions: decision-making power structures, constraints on expertise and capacity, and institutional pressures.
Power concentration in the hands of CEOs leads to ESG committees functioning primarily as procedural approval bodies.
Institutional pressures promote the establishment of ESG committees while prioritizing formal compliance over substantive independence.

Analyzes the operational independence of ESG committees in listed companies, revealing structural conditions for decoupling.

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Kim et al. (2026) studied this question.

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