Environmental Social Governance (ESG) and Consumer Behavior: A Systematic Review and Research Agenda

Abstract

Although ESG (Environmental, Social, and Governance) practices are reshaping consumer expectations, existing research lacks an integrated understanding of how ESG factors influence consumer behavior. This study systematically reviews 56 empirical articles using the Theory–Context–Method (TCM) and Antecedent–Decision–Outcome (ADO) frameworks. The TCM analysis reveals theoretical fragmentation, a concentration of studies in East Asia, and a reliance on cross-sectional surveys and structural equation modeling. The ADO analysis identifies 189 antecedents, 52 decision variables, and 66 outcomes, with ESG-specific antecedents—such as perceived ESG performance, transparency, and greenwashing perception—exerting stronger and more consistent effects than general consumer factors. Moreover, cognitive and affective responses and purchase intentions are key mediators linking antecedents to diverse outcomes, while strategic decisions and long-term behavioral outcomes remain underexplored. Based on these findings, the study proposes a targeted research agenda to strengthen theory-driven modeling, extend contextual coverage beyond Asia, diversify methods, and address overlooked decision mechanisms and systemic outcomes. The review advances cumulative knowledge and offers actionable directions for researchers and practitioners working to align ESG strategies with consumer behavior.