Corporations are increasingly evaluated by how they respond to global sustainability challenges. ESG practices now serve as a key indicator of their commitment to responsible and sustainable behaviour. This paper examines the variables of integrated reporting quality, financial performance shortfalls, and firm characteristics affect ESG performance among public-listed companies in Malaysia. This paper uses panel data to analyse 300 firm-year observations from 50 companies between 2017 and 2022. Three regression models were estimated: the FASPPF based model, SASP5PF based model a combined model using both measures. A fixed-effects regression analysis was performed, and the findings show that FASPPF, SASP5PF, firm age, and ROA exhibit significant effects on ESG performance. By contrast, integrated reporting quality, ESG controversies, firm size, and sales growth show insignificant relationship. Leverage exhibit inconsistent. effects across models could be attributed to the differences in the proxy variables of the three models that needs further exploration. By focusing on financial performance shortfalls, this study highlights an underexplored determinant shaping ESG performance in Malaysia. The findings offer meaningful guidance for corporate leaders, investors, and policymakers who aim to enhance the design and implementation of ESG strategies within emerging market environments.