Purpose The purpose of this study is to analyse how implementation of corporate social responsibility (CSR) policies following United Nations’ Global Compact (UNGC) guidelines can contribute to firm’s performance during a global crisis, such as the case of COVID-19. Based on the triple bottom line theoretical framework, this work explores the relation between the creation of value and sustainable business models with long-term strategies and strong policy commitments, and their performance in the stock market years later during a crisis. By doing so, new insights on strategic management to create value and consolidate sustainable business models are provided. Design/methodology/approach The present study analyses firms within the context of the European Union, considering the involvement of the region in achieving sustainable development. In particular, the long-term impact in the usage of the UNGC management model and the firm's sustainability performance based on the results during COVID-19 crisis. To achieve this goal, energy firms operating in Spain and subscribing to UNGC were evaluated, specifically those publicly listed in the IBEX35, benchmark index of Spain's Stock Market Interconnection System. In addition, firms were also considered regarding the strong impact within their industries not only nationally but also worldwide. Findings Findings show long-term CSR strategies and a strong commitment to sustainable development contribute to firm’s overcoming periods of economic crisis. In addition, considering the environmental impact of the firms’ actions, transition to sustainable business and widening portfolio in the case of energy firms proved to have a positive impact in overcoming a hard context such as COVID-19. The virtuous cycle can be created by honouring the social contract, yet the tools and management models shall be further tailored to ensure an effective win-win situation. Originality/value This study evaluates a company's strategic involvement in sustainability, considering the UNGC 10 principles and SDG and the effects of these strategies in the long-term. Specifically, the role of UNGC management model is evaluated in designing effective policies that can help firms better overcome a context of crisis such as COVID-19. Consequently, researchers studying business strategy can incorporate the findings in strategic planning. Practitioners can learn the implications of CSR strategic planning in the long-term. Moreover, work illustrates corporate results in sustainability matters after the first decade of the UNGC management model and the impact of a crisis context.

Purpose The purpose of this study is to evaluate whether the implementation of sustainable business models contributes to improving a firm’s performance during a global crisis, such as the one caused by COVID-19. Based on the triple bottom line theory, the paper explores the relation between the creation of value through solid corporate social responsibility (CSR) strategies, United Nations (UN) Global Compact’s (GC) business model proposals and Global Reporting Initiative’s (GRI) reporting scheme. Design/methodology/approach The present paper studies companies within the European Union, focusing specifically on the long-term impact of using the world’s most widely used standards for sustainability reporting – the GRI’s standards and/or the UNGC management models, as well as on the firm’s performance based on the financial results during COVID-19 crisis. To achieve this goal, the study analyses the share price of firms publicly listed in the FTSEMIB (benchmark index of Italy’s largest trading platform) out of those companies that are implementing the UN and GRI’s tools. Findings Findings show how a commitment to sustainable business models and long-term CSR strategies can contribute to firm’s ability to overcome periods of economic crisis. Furthermore, implementing GRI standards and UNGC guidelines within the business model seems to have a positive impact in overcoming a hard context such as COVID-19. In addition, it contributes to a better understanding of stakeholders’ needs, consumer profiling and value creation. Originality/value This study evaluates firms’ business models, considering the effects of decisions made in the context of COVID-19. The role of UNGC and GRI is evaluated in terms of their contribution to firms’ financial performance and corporate reputation during a context of hardship. Consequently, this study contributes to academia and practice, adding value in areas related to strategic planning and business model design.

Purpose The purpose of this study is to analyze how Internet of Things can contribute to the achievement of a sustainable development based on people, profit and planet. Based on the triple bottom line theoretical framework, this work explores the relation between technology and the creation of value in management operative and support processes carried out by a firm with a direct impact in society and the environment. By doing so, new insights on strategic management to create value and consolidate sustainable business models are provided. Design/methodology/approach The present study analyzes firms within the context of the European Union, considering the involvement of the region in achieving sustainable development, in particular, the usage of technology and specifically Internet of Things to create value and contribute to company’s position as leaders in the industry’s change toward sustainable development. To achieve this goal, the Spanish market was analyzed, specifically companies who were publicly listed in the IBEX35, which is the benchmark stock market index of Spain’s main stock exchange (Bolsa de Madrid). In addition, firms were also considered regarding the strong impact within their industries not only nationally, but also worldwide. Findings Findings show that companies incorporating Internet of Things can enhance their role as leaders in change toward sustainable development. Similarly, the usage of these technologies positively impacts the pollution reduction and limiting usage of non-renewable resources, as well as positively impacting people’s lives. Furthermore, technology has a positive effect on the creation of value, considering management, operative and support processes. By considering people and planet, companies can have a profitable business model that is also sustainable in the long-run, creating a win-win situation within the triple bottom line. Originality/value This study shows the links between Internet of Things and sustainable development within the framework of the triple bottom line. It portrays the relevance of technology in value creation to achieve business models that can cater to profit, people and planet objectives. Consequently, practitioners can incorporate Internet of Things elements to create value and contribute to their corporate social responsibility objectives, establishing synergies between managerial and socio-environmental aspects. Moreover, researchers studying business strategy can incorporate these variables to further enlarge the results herein derived. Finally, this work reinforces the usage of triple bottom line theory to analyze a firm’s sustainable development and its business models.

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Creating a solid link between people, profit and planet (known as the Triple Bottom Line-TBL-framework) is the key to achieving sustainable development. In recent years there has been an increasing number of studies evaluating how firms can contribute to establishing these links, in order to ensure their own sustainable growth. In addition, this framework requires the specific support of governmental institutions, who can align and link the different stakeholders in a common vision. In the context of the European Union, the case of a waste management consortium located in a particular region of Spain is analysed. Through the evaluation of its positive economic incentives initiative within the TBL framework, results show the positive impact within sustainable growth and direct alignment with the European Union’s 2020 environmental objectives.