Addressing climate change is among the most challenging ethical issues facing contemporary business and society. Unsustainable business activities are causing significant distributional and procedural injustices in areas such as public health and vulnerability to extreme weather events, primarily because of a distinction between primary emitters and those already experiencing the impacts of climate change. Business, as a significant contributor to climate change and beneficiary of externalizing environmental costs, has an obligation to address its environmental impacts. In this paper, we explore (...) the role of firms’ climate change targets in shaping their emissions trends in the context of a large multi-country sample of companies. We contrast two intentions for setting emissions reductions targets: symbolic attempts to manage external stakeholder perceptions via “greenwashing” and substantive commitments to reducing environmental impacts. We argue that the attributes of firms’ climate change targets are diagnostic of firms’ underlying intentions. Consistent with our hypotheses, while we find no overall effect of setting climate change targets on emissions, we show that targets characterized by a commitment to more ambitious emissions reductions, a longer target time frame, and absolute reductions in emissions are associated with significant reductions in firms’ emissions. Our evidence suggests the need for vigilance among policy-makers and environmental campaigners regarding the underlying intentions that accompany environmental management practices and shows that these can to some extent be diagnosed analytically. (shrink)

In this paper we explore the nature of the emerging purpose ecosystem and its role in transforming and supporting business to help address the UN Sustainable Development Goals. We argue that interactions among its ‘private actors’, who share efforts and belief in changing and redefining the purpose and nature of business by advocating broader non-financial performance outcomes, have the potential to contribute to a wider sustainability-oriented transformation of the business sector. Through interview data collected in the UK and Australia, we (...) identify six main roles that characterise the activities and interactions among its actors and their stakeholders. Our research contributes to expanding knowledge on the emerging phenomenon of the purpose ecosystem and how its actors support the achievement of the UN SDGs by seeking to change the purpose of business and integrating the goals into their operations and engagements with stakeholders. (shrink)

Complex and urgent challenges including climate change and the significant decline in biodiversity provide a broad agenda for interdisciplinary scholars interested in the implications facing businesses, humanity, and other species. Within this context of sustainability, persistent conflicts between key paradigms create substantial barriers against—but also opportunities for—developing new conceptual approaches and theoretical models to understand and respond to these critical issues. Here, I revisit paradigmatic tensions to assess their impact on research and debate on sustainability, ethics, and business. Drawing on (...) relational ontology and values of nature that recognise humanity’s tight embeddedness within the planetary ecosystem, I examine how conceptualising sustainability as the _pursuit of life_ might generate new insights for research and practice into the wider transformation needed to sustain and restore socioecological systems. The aim here, however, is not to reconcile these paradigmatic tensions but instead use them as a fruitful lens for examining the implications for sustainability, while acknowledging the inherent ethical dilemmas for individuals, organisations, and society. (shrink)

Purpose‐driven businesses have a stated objective to contribute to the welfare of society and the planet alongside generating shareholder value. As interest in purpose‐driven businesses grows, an emerging “purpose ecosystem” of advisers, investors, and enablers offers different types of support for businesses wanting to transition to sustainability. This paper examines how the transition towards purpose‐driven business in Australia and the United Kingdom requires addressing challenges facing this support ecosystem at three levels. First, at the individual level where support providers need (...) to build the capabilities of managers who are experiencing tensions around integrating societal and environmental purpose while facing pressure for maximizing shareholder value. Second, the support providers working within the purpose ecosystem offering professional advice and finance face their own tensions between environmental or social objectives and commercial pressures. Third, there are challenges facing actors in the ecosystems aiming to change the wider policy and institutional environment but facing lobbying from those wanting to keep “business as usual.” We identify practical implications for those parts of the purpose‐driven business ecosystem providing support. This includes building capabilities to combine social, environmental, and commercial purpose; coordination among support providers; and creating an institutional environment to avoid “purpose wash.”. (shrink)

This paper prepares an investigation into the roles and effectiveness of different types of corporate governance and environmental governance mechanisms in driving improvements in environmental performance. More specifically, the authors provide background theory regarding the way in which different types of traditional corporate governance and new concepts of environmental governance might have an impact on reducing firms’ levels of greenhouse gas emissions intensities. The paper also suggests a method of how this could be empirically tested.

This paper prepares an investigation into environmental performance among multinational enterprises in the context of greenhouse gas emissions. The authors offer a theoretical background about how MNCs are faced with opposing choices with regard to standardising or adjusting their local environmental performances. Moreover, we outline a potential methodology for exploring the variation in MNCs’ levels of greenhouse gas emissions around the world.

In this article we explore the state of current ESCM practices in U.K. companies. We develop a conceptual framework that draws upon the stakeholder,resource-based, and power-dependence perspectives and examine this framework in light of empirical evidence concerning ESCM in 166 UK companies. Using a combination of qualitative and quantitative methods, our evidence suggests that around 50% of sample companies engage in some form of ESCM activity and that experiencing significant external pressure from customers is an important driver of ESCM.

Anecdotal evidence seems to suggest that firms are responding differently to the mounting concerns over environmental degradation and climate change. While a few studies at individual firm level do exist, relatively little is known about the longitudinal development of corporate environmental strategy at the population level of firms. Employing KLD data we explore the evolution of environmental strategy among a sample of S&P500 corporations over the period 1997 to 2006. We theoretically ground our study in Burgelman’s (1991) autonomous and induced (...) perspectives of strategy-making. Our findings suggest widespread inertia among firms to adjust to the changing socio-institutional environment. (shrink)