ESG-SDG Nexus: Assessing How Top Integrated Oil and Gas Companies Align Corporate Sustainability Practices with Global Goals

Placed at the core of the energy transition, the integrated oil and gas sector is facing growing pressure to balance sustainability requirements with financial performance. While ESG ratings are widely used to evaluate and benchmark corporate sustainability, their connection to broader SDG commitments (and real transition outcomes) remains underexplored, especially in carbon-intensive industries. Against this background, this paper aims to investigate how well the world’s largest integrated oil and gas companies (as classified by LSEG Data and Analytics) align their ESG performance with the SDGs, and to assess (the robustness of) their sustainability trajectories. Using a panel dataset—including ESG (overall, by pillars, and controversies) scores (2019–2023), SDG commitments (2019–2023), and the (recently released) FTSE Russell Green Revenues (2024)—the study applies a quantitative, longitudinal, and explanatory design. It follows a process logic—from inputs (ESG performance) to intentions (SDG commitments) and ultimately to outcomes (Green Revenues)—to identify performance patterns, strategic archetypes, and materiality insights. The study adds to the ongoing debate on how ESG metrics can better capture real SDG/sustainability impacts, while providing insights for strategists, investors, and policymakers seeking to align financial and sustainability agendas during the energy transition.