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Voluntary Sustainability Reporting and Financial Performance: Empirical Insights From the Global Real Estate Sector
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Author(s): Eleftheria Panagiotidou (Democritus University of Thrace, Greece), Stella Chondrou (Democritus University of Thrace, Greece), Athanasios Mandilas (Democritus University of Thrace, Greece)and Giannoula Florou (Democritus University of Thrace, Greece)
Copyright: 2026
Pages: 36
Source title:
Data-Driven ESG Strategy Implementation Through Business Intelligence
Source Author(s)/Editor(s): Markos Komodromos (University of Nicosia, Cyprus), Lambrini Seremeti (Agricultural University of Athens, Greece), Lazaros Anastasiadis (University of Crete, Greece), Panagiotis Liargovas (University of Peloponnese, Greece)and Sofia Anastasiadou (Univerity of Western Macedonia, Greece)
DOI: 10.4018/979-8-3373-5142-1.ch014
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Abstract
This chapter investigates the impact of adherence to Global Reporting Initiative (GRI) standards on the financial performance of real estate companies, with a specific focus on the Environmental, Social, and Governance (ESG) framework's influence on Return on Assets (ROA). Using statistical and regression analysis, the study analyzes data from 20 top global real estate firms. Findings show a positive link between strong ESG practices and financial performance, especially in environmental and governance areas. The study employs a longitudinal approach, drawing on publicly available corporate reports and sustainability disclosures to quantify ESG adherence and correlate it with financial outcomes. The research contributes providing evidence that robust ESG practices can serve as a strategic imperative for enhancing financial viability in the real estate sector. It suggests that investment in sustainability initiatives and transparent reporting may lead to improved financial returns, advocating for the integration of ESG metrics into corporate performance evaluation.
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