ESG in transition: A text mining analysis of how Indian corporations evolved from checkbox reporting to strategic integration

Priyanka Aggarwal; Archana Singh; Deepali Malhotra

doi:10.29333/ejosdr/19013

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Priyanka Aggarwal ¹ ^* , Archana Singh ¹ , Deepali Malhotra ¹

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¹ Delhi Technological University, INDIA^* Corresponding Author

Abstract

This study analyzes sustainability reports of 269 NIFTY 500 firms from FY2015 to FY2023 using text mining to track the evolution of corporate ESG reporting in India. The study employed Orange software to process and analyze textual data, generating word clouds and frequency analyses to identify temporal patterns. The analysis reveals three distinct phases: initial establishment (2015-17), governance consolidation (2018-20), and balanced integration (2021-23). Governance terms consistently dominated across all periods, with “business” and “profit” being most frequent. Social reporting centered on employee welfare, while environmental terms, particularly “energy,” showed steady growth. The findings demonstrate that Indian corporations have shifted from compliance-driven disclosure to strategic ESG integration, with implications for regulatory frameworks and investment decisions.

Keywords

temporal ESG evolution
text mining
corporate sustainability narratives
ESG disclosure patterns
strategic sustainability integration

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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 4, 2026, Article No: em0423

https://doi.org/10.29333/ejosdr/19013

Publication date: 01 Oct 2026

Online publication date: 25 Jul 2026

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Article Downloads: 7

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How to cite this article

APA

Aggarwal, P., Singh, A., & Malhotra, D. (2026). ESG in transition: A text mining analysis of how Indian corporations evolved from checkbox reporting to strategic integration. European Journal of Sustainable Development Research, 10(4), em0423. https://doi.org/10.29333/ejosdr/19013

Vancouver

Aggarwal P, Singh A, Malhotra D. ESG in transition: A text mining analysis of how Indian corporations evolved from checkbox reporting to strategic integration. EUR J SUSTAIN DEV RES. 2026;10(4):em0423. https://doi.org/10.29333/ejosdr/19013

AMA

Aggarwal P, Singh A, Malhotra D. ESG in transition: A text mining analysis of how Indian corporations evolved from checkbox reporting to strategic integration. EUR J SUSTAIN DEV RES. 2026;10(4), em0423. https://doi.org/10.29333/ejosdr/19013

Chicago

Aggarwal, Priyanka, Archana Singh, and Deepali Malhotra. "ESG in transition: A text mining analysis of how Indian corporations evolved from checkbox reporting to strategic integration". European Journal of Sustainable Development Research 2026 10 no. 4 (2026): em0423. https://doi.org/10.29333/ejosdr/19013

Harvard

Aggarwal, P., Singh, A., and Malhotra, D. (2026). ESG in transition: A text mining analysis of how Indian corporations evolved from checkbox reporting to strategic integration. European Journal of Sustainable Development Research, 10(4), em0423. https://doi.org/10.29333/ejosdr/19013

MLA

Aggarwal, Priyanka et al. "ESG in transition: A text mining analysis of how Indian corporations evolved from checkbox reporting to strategic integration". European Journal of Sustainable Development Research, vol. 10, no. 4, 2026, em0423. https://doi.org/10.29333/ejosdr/19013