Conceptualizing the corporate-social accountability and sustainability assessment of weather-risk management policy towards stakeholders using qualitative insights: a case of weather index insurance
Pankaj Singh & Ruchi Kushwaha
What the paper says
Purpose Sustainability assessment of risk-management policies has been needed to analyze their corporate social impact on stakeholders in terms of environmental, social and governance (ESG) and corporate social responsibility (CSR) accountability aspects. Thus, weather index insurance (WII) is a significant risk-management policy; there is a need to explore the corporate socio-environmental impact of WII on stakeholders. Thus, the purpose of this study is to develop a theoretical framework for theorizing the sustainability reporting aspect of WII. Design/methodology/approach This study performs qualitative exploratory research using in-depth interviews with ten experts. It has been carried out through semi-structured interviews with academic and professional experts and analyzed the interview transcripts using qualitative analysis. Findings This study’s outcomes contribute a new paradigm in the ESG and CSR accountability domain from the perspectives of stakeholder theory. The findings of this study reported a novel conceptual framework for integrated sustainability reporting of WII based on ESG and CSR constructs. The thematic content analysis of interview transcripts and WII literature exposed the significant accountability of WII towards human, ecological and financial capital. Practical implications This study provides valuable insights into the theoretical development of WII sustainability domain by developing a theoretical framework that provides a further pathway for future researchers. Social implications This study attempts to analyze the WII exposure toward ESG and CSR dimensions that are helpful for insurers, farmers, managers and governments. Originality/value This study firstly bridges the gap between WII theoretical knowledge and professional practice in terms of sustainability assessment of WII.
5 citations
Evidence weight
Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40
| F · citation impact | 0.41 × 0.4 = 0.16 |
| M · momentum | 0.63 × 0.15 = 0.09 |
| V · venue signal | 0.50 × 0.05 = 0.03 |
| R · text relevance † | 0.50 × 0.4 = 0.20 |
† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.