Growing global pressure to manage water and energy sustainably has reinforced the importance of corporate governance as a key lever for improving transparency, operational efficiency, and the adoption of innovative solutions. In this context, the board of directors emerges as a fundamental actor. This thesis provides an integrated analysis of how board diversity influences three dimensions of water and energy management in firms from the Pacific Alliance (Chile, Colombia, Mexico, and Peru): (1) transparency (“what is disclosed”), (2) operational efficiency (“how firms perform”), and (3) the adoption of innovative practices, such as renewable energy use and water reuse (“what is implemented”). To do so, it employs a mixed-methods design combining qualitative content analysis with mixed-effects regression models using panel data (2018–2023). Findings for Objective 1 show that greater board diversity is associated with more complete and rigorous sustainability reports on water and energy. Attributes such as female representation, board size, the proportion of independent directors, higher average age, and international education contribute significantly to improving disclosure quality (SUSQUAL index). Cross-country differences also emerge; for instance, Mexico exhibits lower-quality disclosure, likely linked to weaker regulatory requirements. Overall, these results demonstrate that diversity drives environmental transparency aligned with SDGs 5, 6, and 7. For Objective 2, focused on water and energy efficiency, evidence indicates that board diversity—particularly demographic diversity (gender, age, tenure, international education)—is linked to better eco-efficient performance. The positive influence of board independence also stands out. Once these variables are incorporated into the models, country- and industry-level differences lose significance, underscoring board composition as a transversal determinant of efficient resource use. This provides novel evidence for Latin America by showing that diversity simultaneously supports cost reductions and sustainability gains. Regarding Objective 3, the thesis shows that more diverse boards accelerate the corporate energy transition. Both ISD and IDD are positively associated with the share of renewable energy consumption, especially when women and foreign directors are present on the board. Clean energy quotas and firm size or leverage further reinforce adoption, suggesting that public policies can amplify the internal effect of board diversity. Finally, in relation to water reuse, board diversity alone does not guarantee higher levels of recycling. ISD is negatively associated with reuse intensity, and IDD shows no robust effects. Regulatory, economic, and technological constraints—as well as low regional adoption—explain this structural gap. Thus, board diversity is necessary but not sufficient for highly complex sustainability outcomes without additional enabling conditions. Overall, the thesis concludes that board diversity constitutes a strategic lever to enhance transparency, efficiency, and the energy transition. However, advancing water reuse requires clear policies, infrastructure, and adequate economic incentives. Recommendations are proposed for companies, regulators, and investors to align corporate governance with SDGs 5, 6, and 7.
