Who Sits at the Table Matters: Board Composition and Committee Architecture as Signals of ESG Risk Governance in Greece

ESG risk is financially relevant, yet ratings and disclosure scores primarily capture external evaluations or reported outcomes rather than the internal arrangements through which risks are anticipated, challenged, and monitored. This study examines how board composition, leadership structure, gender representation, and committee architecture signal ESG risk governance capacity in Greek listed firms included in the ATHEX ESG Index during 2021–2024. Using hand-collected firm-year data from annual reports, corporate governance statements, sustainability reports, and company disclosures, it develops a descriptive longitudinal baseline. Board size and director-role composition remained stable; independent non-executive directors were the largest category; executives occupied about one-third of board seats; female representation rose from 24.0% to 28.1%; CEO–chair separation predominated but was not universal; and the number of disclosed board committees remained stable. These patterns indicate visible formal monitoring arrangements but do not establish substantive effectiveness. The study contributes by distinguishing executive, dependent non-executive, and independent non-executive roles and integrating leadership and committee architecture into ESG risk governance assessment. It provides longitudinal evidence from Greece and a baseline for future research linking governance architecture to independently measured ESG risk outcomes.