ASSESSING THE IMPLEMENTATION OF ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) BY SOUTHEAST ASIAN LISTED PROPERTY COMPANIES

This study investigates the integration of Environmental, Social, and Governance (ESG) principles in Southeast Asia's real estate sector, focusing on how these principles are embedded into corporate strategies for sustainable development. It provides an understanding of ESG practices among the top listed property companies in Malaysia, Singapore, Indonesia, Thailand, and the Philippines, exploring the factors driving ESG adoption and the challenges faced in this region. Utilising a mixed-methods approach, the research analyses data from the annual reports of the top 10 listed property companies in each country, examining their ESG disclosures and practices. An ESG matrix evaluates each company's performance across environmental, social, and governance criteria. Principal component analysis (PCA) and rank correlation techniques assess the relationship between ESG performance and market value. The findings indicate a growing trend towards ESG integration in Southeast Asia, with Singapore and Malaysia leading due to robust frameworks and government initiatives. Other countries like Indonesia, Thailand, and the Philippines are progressing but face challenges such as policy fragmentation and data scarcity. The study highlights the importance of comprehensive ESG strategies for sustainable growth and provides valuable insights for policymakers, investors, and stakeholders in a region often underrepresented in global ESG discussions.