Environmental, Social, and Governance (ESG) Disclosures and Industry 5.0

This book chapter talks about the integration of technology, especially Industry 5.0 (I5.0) with sustainability. Sustainability is one of the main concerns at the global level. Businesses as well as different stakeholders take sustainability or environmental, social, and governance (ESG) components into account while making managerial-level decisions. ESG helps in measuring corporate performance, analysing investment opportunities, and understanding customer preferences in the dynamic business environment. Prior studies suggest the influence of technology on approaches to sustainability. However, studies of the integration of technology in reporting ESG-related information is limited. In addition, this chapter offers an assessment of the capacity of I5.0 to improve ESG reporting by matching fundamental concepts of I5.0 with ESG disclosure practices, considering prevalent challenges of ESG reporting within Industry I4.0. Therefore, the chapter aims to elucidate the role of I5.0 in enhancing the precision and customisation of ESG reports, and I5.0 can be a catalyst for improved and accurate ESG practices. The chapter also discusses potential challenges and considerations for implementing I5.0 in ESG reporting.