SDG adoption in the global transport sector: Evidence from Asia-pacific

Abstract

This study examines the adoption of Sustainable Development Goals (SDGs) within the global transport sector, with a particular emphasis on the Asia-Pacific region. Using firm-level Refinitiv Datastream data for 377 publicly listed transport firms from 2019 to 2024, the analysis examines regional disparities, temporal dynamics, industry-specific variations, and the financial determinants of SDG adoption. SDG adoption is assessed using 17 binary SDG indicators and an aggregate SDG index that captures the breadth of adoption at the firm-year level. The empirical methodology integrates descriptive statistics, matched-firm and regional comparisons, nonparametric industry tests, and multivariate modeling. Results indicate that Asia-Pacific transport firms exhibit broader SDG adoption than their counterparts in other regions across all 17 goals. Within the Asia-Pacific, adoption rates are highest for SDGs 8, 13, 12, 3, 5, and 9, and lowest for SDGs 2, 1, and 6. The increase in adoption from 2019 to 2024 is primarily attributable to within-firm expansion rather than changes in the sample composition. Notable industry differences emerge: Passenger Airlines and Transportation Infrastructure demonstrate the most comprehensive adoption profiles, while Marine Transportation is distinguished by its focus on SDG 14. Firm size consistently predicts broader SDG adoption. These results underscore the distinction between the breadth of SDG adoption and its substantive integration.