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Moving beyond “the” business case: How to make corporate sustainability work
Summary
This article examines the debate over whether the business case alone can drive meaningful corporate sustainability efforts. Researchers argue that neither purely voluntary corporate action nor regulation alone is sufficient, and that firms need to move beyond a one-size-fits-all business case to context-specific approaches. The study suggests that combining private-sector innovation with supportive regulatory frameworks is the most effective path toward achieving sustainability goals.
Abstract One of the most investigated research topics in the corporate sustainability literature is “the” business case. Long lionized for linking the profit motive to corporate environmental initiatives, the business case for sustainability is now vehemently criticized. These critics generally argue for a return to the state and stronger regulatory frameworks. Others counter that because the private sector's capabilities are uniquely suited to realizing effective sustainability innovations and outcomes, we must not abandon but further develop our business case understanding. In this view, firms' voluntary efforts are key for innovative solutions to sustainability problems. This article overviews and unites these seemingly disparate positions. We move the field forward by placing in context criticisms and also opportunities for more meaningful positive impacts from corporate sustainability. Specifically, we argue that an effective business case orientation requires shifting to a broader “all stakeholders win” approach. This entails impact orientation, collaborative approaches, and economic restraint.
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