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An Assessment of the Roles of the Government, Regulators, and Investors in ESG Implementation in South Africa: A Scoping Review

Author

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  • Wilfreda Indira Chawarura

    (School of Accounting, Economics and Finance (SAEF), University of KwaZulu-Natal, J Block—J224, 2nd Floor, Westville Campus, University Road, Westville, Durban 3630, South Africa)

  • Mabutho Sibanda

    (School of Accounting, Economics and Finance (SAEF), University of KwaZulu-Natal, J Block—J224, 2nd Floor, Westville Campus, University Road, Westville, Durban 3630, South Africa)

  • Kuziva Mamvura

    (School of Accounting, Economics and Finance (SAEF), University of KwaZulu-Natal, J Block—J224, 2nd Floor, Westville Campus, University Road, Westville, Durban 3630, South Africa)

Abstract

The purpose of this study was to detect from the literature the roles of the Government, investors, and regulators in ESG implementation in South Africa from 2002 to 2022. ESG implementation in South Africa ensures sustainable business practices are adopted by firms operating within the country. The study used a scoping review methodology, with only articles in the English language being considered. A pilot search was carried out to identify key search phrases to be included in the search strategy. A total of 208 articles were identified and only 34 articles were eligible for the study. The results show an increase in ESG implementation by institutional investors, although investor activism is still low in South Africa. The South African Government actively enacted laws and regulations that supported ESG implementation after the global financial crisis of 2007–8. However, in recent years, there has been a lack of hard laws to support the non-legislative ESG rules that dominate ESG reporting. The study shows that the South African Government should improve its ESG laws for effective ESG adoption and avoid relying on the JSE, which enforces the King Code as a mandatory listing requirement to monitor ESG implementation. Training, capacity building, and active Government participation are critical for effective ESG implementation in South Africa.

Suggested Citation

  • Wilfreda Indira Chawarura & Mabutho Sibanda & Kuziva Mamvura, 2025. "An Assessment of the Roles of the Government, Regulators, and Investors in ESG Implementation in South Africa: A Scoping Review," Administrative Sciences, MDPI, vol. 15(6), pages 1-27, June.
    • Handle: RePEc:gam:jadmsc:v:15:y:2025:i:6:p:220-:d:1672237
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    References listed on IDEAS

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    1. Bjorg Jonsdottir & Throstur Olaf Sigurjonsson & Lara Johannsdottir & Stefan Wendt, 2022. "Barriers to Using ESG Data for Investment Decisions," Sustainability, MDPI, vol. 14(9), pages 1-14, April.
    2. Vanessa Magness, 2006. "Strategic posture, financial performance and environmental disclosure: An empirical test of legitimacy theory," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, vol. 19(4), pages 540-563, July.
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    4. Dharen Kumar Pandey & Rahul Kumar & Vineeta Kumari, 2023. "Glasgow climate pact and the global clean energy index constituent stocks," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 19(10), pages 2907-2927, January.
    5. Ozili, Peterson K, 2022. "Decentralized finance research and developments around the World," MPRA Paper 114338, University Library of Munich, Germany.
    6. Guglielmo Maria Caporale & Luis Gil-Alana & Alex Plastun & Inna Makarenko, 2022. "Persistence in ESG and conventional stock market indices," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 46(4), pages 678-703, October.
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