Content analysis of ESG disclosures of Indian chemical companies and the impact analysis of disclosures on the financial and market performance of the companies
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Maithili Prashant Dhuri 1 * , Ritu Sinha 1 , Smita Shukla 2
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1 IES’s Management College and Research Center, Mumbai, INDIA2 Alkesh Dinesh Mody Institute for Financial and Management Studies, University of Mumbai, Mumbai, INDIA* Corresponding Author

Abstract

Sustainability reporting is increasingly becoming critical in the chemical sector, given its environmental impacts, including emissions, waste generation, and resource consumption. This study examines the business responsibility and sustainability reporting (BRSR) of seven leading Indian chemical companies, selected on the basis of CRISIL and Bloomberg scores, to evaluate the transparency and scope of environmental, social, and governance (ESG) disclosures. Using content analysis, the study categorizes key disclosure themes such as environmental stewardship, employee health & safety, governance & transparency, human rights & social inclusion, corporate social responsibility, risk management & compliance, digital governance & data security, sustainable production & consumption, and biodiversity & conservation. These themes are examined in relation to financial and market performance indicators, specifically return on assets, return on equity, and stock valuation. The findings suggest that there is a growing emphasis on sustainability communication; however, inconsistencies in data quality, accuracy, and completeness persist despite securities and exchange board of India-mandated BRSR formats. The study highlights the complexities arising from the coexistence of multiple sustainability standards and underscores the imperative for enhanced standardization, in disclosure practices. By offering actionable insights, this research highlights the role of robust ESG disclosures in building transparency, stakeholder trust, and long-term value creation within the Indian chemical industry.

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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Article Type: Research Article

EUR J SUSTAIN DEV RES, Volume 10, Issue 1, 2026, Article No: em0357

https://doi.org/10.29333/ejosdr/17497

Publication date: 01 Jan 2026

Online publication date: 03 Dec 2025

Article Views: 63

Article Downloads: 31

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