Distribution of ESG Practices Among the LuSE Sub-Industries Based on MSCI ESG Industry Materiality Map (Journal of Environment Climate and Ecology)

Summary

• The study uses a purposive sample of 12 firms with 60 firm-year observations on the Lusaka Securities Exchange.p.1
• LuSE-listed firms have a mean ESG score of 6.52, with significant variation across sub-industries.p.1
• Diversified real estate (5.02) and Reinsurance (5.43) are among the lowest overall ESG scores.p.10
• Diversified Financial Services has the highest social score (3.69), while Diversified Real Estate Activities has the lowest (0.44).p.11
• Industrial Conglomerates achieve the highest governance score (3.94) and Brewers the lowest (2.22).p.11

Key insights

1. Governance is the top-performing ESG dimension, followed by social and then environmental performance.p.1
2. ESG outcomes reflect industry-specific sustainability risks in line with the MSCI ESG industry materiality map.p.1
3. Governance dimensions are treated as standard irrespective of sub-industry, while environmental and social material issues vary.p.5
4. No comprehensive study had assessed ESG practice distribution across LuSE sub-industries before this paper.p.3