Sustainable development, especially with the 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs), has been a priority of corporations. Nevertheless, processes which are required to deliver both changes and impact to create a sustainable organization have been slow and challenging. The purpose of this research is first to explore the extent and nature of eco-sustainability policy and strategy implementation of Materials Industry Group (MIG) companies listed on the Australian Securities Exchange (ASX). The analysis shows that strategy is the core element for organizational sustainable development and strategy needs to be implemented at the enterprise-wide level and aligned with other dimensions within the McKinsey Seven S's (7S's) framework. The capabilities of life cycle assessment (LCA) that provides a holistic assessment of environmental impacts of products, from upstream and downstream perspectives, is under-explored. The case companies used in this research find it challenging to implement LCA. This research adds an additional dimension to the existing framework, suggesting the possibilities of adopting blockchain technology in strategizing sustainability strategy. Blockchain in the systems of the framework can be used in LCA to support sustainability and help organizations to achieve their targeted SDGs.
Purpose
– The purpose of this paper is to explore environmental sustainability (eco-sustainability) policy and strategy adoption and implementation in Australian companies. Specifically, it assesses what influences the extent of organizational eco-sustainability strategy implementation.
Design/methodology/approach
– This research used semi-structured interviews with senior executive from a list of the Australian Securities Exchange (ASX) 200 companies in banking, materials, real estate and transportation industry groups. A purposive sampling method was used to select the most appropriate participants. The “elite” interviewing method was adopted with persons who are recognized as the expert in the topic under investigation. Finally, an interpretative approach to data analysis was used.
Findings
– The paper shows the importance of eco-sustainability strategy alignment with the overall business strategy. Similarly, organizational structure and systems are recognized to be equally important. The senior executives also agreed that shared values, passionate skilled and experienced staff, the Board and senior management, as well as governance, are critical in ensuring a successful adoption and implementation of organizational eco-sustainability policy and strategy.
Practical implications
– This research provides some understanding of how organizations implement their eco-sustainability policy and strategy and what influences the extent of their eco-sustainability strategy implementation, and answers to why each dimension is important for a particular organization was gained through interviews with the senior executives. This paper also facilitates a better understanding of the relative importance placed on each dimension as a factor influencing eco-sustainability adoption and implementation.
Originality/value
– Drawing on theories from various disciplines and the McKinsey Seven S’s framework, this paper strengthens the foundation for industry practitioners to understand what influences the success of the eco-sustainability strategy adoption and implementation.
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