Nature, Knowledge, and Values: A Philosophical Analysis of the ESG Framework

Global attention to sustainability issues is currently increasing. This phenomenon is evidenced by the increasing percentage of companies publishing sustainability reports. Due to the increasing global attention to sustainability issues, sustainability reporting, which was previously voluntary, has now become mandatory for companies. This study aims to analyze the philosophical foundations of the Environmental, Social, and Governance (ESG) framework to fill the gap between pragmatic practice and its uncertain scientific foundation. Using the Systematic Literature Review (SLR) method, this study analyzes relevant literature through three pillars of the philosophy of science. The results show that: (1) Ontologically, the nature of ESG is understood as a plural and relational hybrid reality, namely a combination of objective reality and social construction shaped by standards and values. (2) Epistemologically, valid ESG knowledge is a holistic synthesis of three approaches: rational-normative, empirical-positivistic, and contextual-critical. (3) Axiologically, ESG is understood as a manifestation of ethical values ​​(justice, responsibility) that can be analyzed through the frameworks of utilitarianism, deontology, and virtue ethics. This study concludes that the current "pragmatic" ESG practice is a reflection of an unequal understanding that focuses too much on the epistemological-empirical aspects (numbers and ratings) without integrating the plural ontological nature and axiological (moral) goals of sustainability.