Penelitian ini bertujuan untuk menganalisis pengaruh Environmental, Social and Governance (ESG), Intellectual Capital, Leverage, dan Asset Efficiency terhadap Sustainable Growth Rate (SGR) pada perusahaan perbankan yang terdaftar di Bursa Efek Indonesia periode 2020–2024. Penelitian ini dilatarbelakangi oleh ketidakseimbangan antara pertumbuhan aktual dan pertumbuhan berkelanjutan serta perbedaan hasil penelitian terdahulu terkait faktor-faktor yang mempengaruhi SGR. Metode penelitian menggunakan pendekatan kuantitatif dengan teknik purposive sampling sehingga diperoleh 47 perusahaan perbankan dengan total 235 data observasi. Data penelitian berupa laporan keuangan tahunan dan laporan keberlanjutan perusahaan yang dianalisis menggunakan regresi data panel. Hasil penelitian menunjukkan bahwa Environmental, Social and Governance (ESG) berpengaruh negatif signifikan terhadap Sustainable Growth Rate, sedangkan Intellectual Capital, Leverage, dan Asset Efficiency berpengaruh positif signifikan terhadap Sustainable Growth Rate. Penelitian ini diharapkan dapat menjadi bahan pertimbangan bagi perusahaan, investor, dan peneliti selanjutnya dalam memahami faktor-faktor yang mempengaruhi Sustainable Growth Rate.

This study aims to analyze the effect of Environmental, Social and Governance (ESG), Intellectual Capital, Leverage, and Asset Efficiency on Sustainable Growth Rate (SGR) in banking companies listed on the Indonesia Stock Exchange during the 2020–2024 period. This research is motivated by the imbalance between actual growth and sustainable growth, as well as differences in the results of previous studies regarding the factors affecting SGR. The research method used is a quantitative approach with purposive sampling technique, resulting in 47 banking companies with a total of 235 observation data. The data used are annual financial reports and sustainability reports, which were analyzed using panel data regression. The results show that Environmental, Social and Governance (ESG) has a negative and significant effect on Sustainable Growth Rate, while Intellectual Capital, Leverage, and Asset Efficiency have a positive and significant effect on Sustainable Growth Rate. This study is expected to provide consideration for companies, investors, and future researchers in understanding the factors that influence Sustainable Growth Rate.