EXECUTIVE PERCEPTIONS OF ESG REPORTING IN INDIAN PHARMACEUTICALS: INSIGHTS FROM A REFINITIV FACTOR ANALYSIS MODEL

Abstract

This study examines executive perceptions of ESG reporting in the Indian pharmaceutical sector, focusing on Dr. Reddy’s Laboratories and Cipla Ltd. Using the Refinitiv ESG framework and factor analysis, survey items were mapped into Environmental, Social, and Governance pillars to identify latent constructs. Results showed governance as the dominant driver for Dr. Reddy’s and social engagement as the strength for Cipla, while environmental innovation remained underdeveloped. The hypothesized model integrated standardized measurement, pillar weighting, and qualitative insights, providing comparative benchmarking and actionable recommendations. Findings validated the hypotheses that governance enhances investor confidence, social responsibility strengthens reputation, and environmental practices require further development. The study contributes to ESG literature by positioning ESG as a strategic differentiator in Indian pharmaceuticals and offering scope for future longitudinal and cross‑industry studies.