Enhanced Environmental, Social, and Governance Evaluation Model for Corporate Sustainability: Inclusion of Both Leading and Lagging Safety Indicators

Environmental, social, and governance (ESG) evaluation helps identify corporate risks and opportunities using various indicators. However, current models consider safety a lagging social dimension indicator. Here, we propose a hybrid ESG model that effectively integrates leading and lagging safety indicators. Through analyzing global and domestic ESG frameworks, we reveal key limitations in existing safety assessments and highlight the importance of proactive safety metrics for accurate sustainability evaluation. A mixed-method approach was employed to validate the efficacy of the hybrid model. The findings confirm that combining leading and lagging indicators improves ESG assessment accuracy. We recommend expanding ESG into an “environmental, social, safety, and governance (ESSG)” framework by formally recognizing safety as a standalone dimension. The proposed ESSG model organizes evaluations into four distinct areas with 30 refined indicators, facilitating balanced, holistic assessments. The 30 indicators were selected based on six institutional frameworks, and their weightings were derived using the analytic hierarchy process, validating the prioritization of leading safety metrics. This approach promotes proactive risk management and ensures safety is a core component of sustainable business practices. The ESSG framework enhances ESG evaluation by fostering long-term resilience and stakeholder trust.