Economia política da sustentabilidade empresarial: uma análise econômica do discurso ESG a partir de estudos de casos

Abstract

This study consists of a multiple case study that analyses corporate documents released in 2024 by three large Brazilian companies that were part of the Corporate Sustainability Index (ISE), namely Natura, Itaú Unibanco, and Petrobras, seeking to understand how the ESG discourse is mobilized from an economic perspective. The research was conducted using a qualitative approach, based on document analysis and theoretical interpretation of the content disclosed by the companies in the selected materials. The results indicate that there are relevant differences related to the sector in which companies operate and their capital structure, but also many similarities in how the ESG agenda is framed. Overall, the material analyzed presents ESG as compatible with traditional economic logic.