Perspectiva de criação de valor em empresas listadas na B3 que evidenciam os Objetivos de Desenvolvimento Sustentável (ODS)

Abstract

The present work aims to analyze the relationship between the degree of disclosure of the ODS and the creation of economic value of companies listed on B3, based on the assumption that the disclosure of the ODS has a positive relationship with the Return on Investment (ROI), the Return on Equity (ROE) and EVA®. To this end, a content analysis was carried out of the Sustainability reports, annual or Integrated, from 2018 to 2020 of 74 companies that claimed to consider the SDGs in their reports, according to the Relate or Explain initiative of B3 of the year 2019, regarding to the base year of 2018. Then, a correlation and regression analysis was carried out with the financial data disclosed by these companies, in order to verify the relationship between the profitability indicators and the disclosure of the SDGs. It was possible to identify that large companies, with greater added economic value and greater leverage tend to highlight the SDGs more and the sector influences this disclosure. However, the survey results show that there is no positive relationship between the disclosure of the SDGs and the chosen indicators (ROI, ROE and EVA®). The main contributions of the study are to present the value creation potential of the SDGs in the organizations of the Brazilian market and if this adoption, for those that already show it, is related to the profitability indicators, considering that these objectives aspire to a better world and are linked to the impacts of companies on society.