Buddhist Institutional Capital, ESG Authenticity and Greenwashing Prevention

Abstract

This article presents the Buddhist ESG Authenticity Framework (BEAF) as a mechanism that demonstrates how Buddhist Institutional Capital (BIC) prevents greenwashing. The analysis covers four themes. First, regarding Buddhist Institutional Capital, seven dhamma principles and philosophies impermanence (anicca), the Middle Way, dependent origination (paticca-samuppada), compassion (karuna), Right Livelihood (samma-ajiva), mindfulness (sati), and the Sufficiency Economy Philosophy operate through three institutional mechanisms (normative, cognitive and regulative), through which internal accountability is built. This process is structurally different from external surveillance. Second, concerning ESG and greenwashing, the root causes are information asymmetry and weak external accountability mechanisms typical of emerging markets. Third, the BEAF framework provides a four-dimension comparison between authentic and symbolic ESG and shows that BIC is capable of systematically closing the gap. Fourth, in terms of policy, the framework offers concrete implications at the corporate, regulatory and international-standard levels for economies in which Buddhist institutions are deeply integrated.