Assessing the relationship between environmental, social and governance (ESG) initiatives and the profitability of a firm: a case of Zambian Breweries plc, Lusaka plant.
| dc.contributor.author | Mwenya, Eddie | |
| dc.date.accessioned | 2025-09-16T08:04:54Z | |
| dc.date.available | 2025-09-16T08:04:54Z | |
| dc.date.issued | 2025 | |
| dc.description | Thesis of Master of Science Operations, Projects and Supply Chain Management. | |
| dc.description.abstract | This study assessed the relationship between Environmental, Social, and Governance (ESG) initiatives and the profitability of Zambian Breweries Plc, Lusaka Plant. Guided by three (3) objectives, the study first assessed the relationship between ESG initiatives and firm profitability using quantitative data from 160 participants and financial records from 2021 to 2023. Multiple regression analysis was employed to determine the strength and significance of the relationships. The findings revealed a moderate positive relationship between ESG initiatives and profitability, with social initiatives showing the strongest positive and statistically significant relationship, followed by governance initiatives with a moderate positive but statistically insignificant relationship. Environmental initiatives had a weak positive but statistically insignificant relationship, likely due to high initial costs and delayed financial returns. The second objective explored the challenges faced in implementing ESG initiatives. Qualitative data from 10 key informants was analyzed using thematic analysis, which identified key barriers including highlights major barriers, including limited ESG expertise, resistance to change, inadequate stakeholder involvement, regulatory constraints, and restricted access to sustainable resources. The third objective was to propose strategies to enhance ESG implementation for improved profitability. Key strategies that emerged from the data included; continuous staff training, deeper community and stakeholder engagement, ethical governance, and long-term investment in sustainable technologies. The study concluded that while the aggregated ESG initiatives have a moderate positive relationship with profitability, the strength of this relationship varies across components, with social factors showing the most significant contribution to profitability. These findings support stakeholder theory and partially align with agency theory, though they challenge the resource-based view due to the weak relationship between environmental initiatives and profitability. The study recommends that Zambian Breweries Plc focuses more on strengthening social initiatives of ESG while addressing key implementation barriers. Enhanced capacitybuilding, improved transparency, and sustainable investment are essential for maximizing the relationship between ESG initiatives and profitability. Keywords: Environmental, Social, and Governance (ESG), Profitability, Zambian Breweries Plc, Multiple Regression Analysis, Thematic Analysis. | |
| dc.identifier.uri | https://dspace.unza.zm/handle/123456789/9405 | |
| dc.language.iso | en | |
| dc.publisher | The University of Zambia | |
| dc.title | Assessing the relationship between environmental, social and governance (ESG) initiatives and the profitability of a firm: a case of Zambian Breweries plc, Lusaka plant. | |
| dc.type | Thesis |