Risiko ESG sebagai Prasyarat Ketahanan Organisasi: Kajian Pustaka atas Ancaman Lingkungan, Sosial, dan Tata Kelola Korporat

Abstract

Climate change, pressure on worker welfare, and corrupt practices remain three of the most frequent sources of risk that shake the continuity of business organizations, yet strategic management literature has not fully integrated these three dimensions into the concept of organizational resilience. This article develops a classic literature review of recent academic literature on environmental, social, and governance (ESG) risk and its relationship to organizational capacity to withstand, adapt to, and recover from long-term pressure. The sources reviewed include internationally reputable journal articles published within the last ten years, with an emphasis on empirical studies based on listed-company data as well as the theoretical frameworks of stakeholder theory, the dynamic capability view, and legitimacy theory. The findings show that environmental risk in the form of physical and transition climate risk directly affects operational stability and firms’ cost of capital; social risk stemming from the neglect of worker welfare contributes to declining performance and human-resource loyalty; while weak governance and corrupt practices increase agency costs and reputational risk. All three dimensions are consistently associated with the level of organizational resilience when managed through transparent disclosure and firms’ dynamic capabilities, although the strength of this relationship is not uniform across geographic contexts. This article concludes that modern organizational resilience cannot be separated from the quality of ESG risk management, and offers a conceptual framework for researchers and practitioners to view ESG not merely as a compliance instrument, but as a long-term risk-mitigation strategy.