  Environmental, social, and governance (ESG) reports are globally recognized
as a keystone in sustainable enterprise development. However, current
literature has not concluded the development of topics and trends in ESG
contexts in the twenty-first century. Therefore, We selected 1114 ESG reports
from firms in the technology industry to analyze the evolutionary trends of ESG
topics by text mining. We discovered the homogenization effect towards low
environmental, medium governance, and high social features in the evolution. We
also designed a strategic framework to look closer into the dynamic changes of
firms' within-industry scores and across-domain importances. We found that
companies are gradually converging towards the third quadrant, which indicates
that firms contribute less to industrial outstanding and professional
distinctiveness in ESG reporting. Firms choose to imitate ESG reports from each
other to mitigate uncertainty and enhance behavioral legitimacy.
