Moving beyond “the” business case: How to make corporate sustainability work

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.

Organizing Sustainably: Introduction to the Special Issue

“…More broadly, organization theory can help in the endeavour of progressive governance by moving beyond firms and industries as the main units of analysis (Davis & DeWitt, 2022) and promoting an approach that goes beyond returns to shareholders by creating a framework for corporate governance that considers ecological and social boundaries and orients businesses towards developing transformational business models that create societal rather than shareholder value (Martí, 2018). While the 'business case' for voluntary corporate responsibility is insufficient to tackle societal concerns, businesses and governments need an integrated framework to consider the needs of all stakeholders and not just a privileged few (Busch et al, 2023). An important element of such governance is the development of adequate measures for sustainability accounting that not only recognize nature as a stakeholder but also consider value plurality (Arjaliès, Laurel-Fois, & Mottis, 2023;Quattrone, 2022).…”

Accelerating Sustainability Mainstreaming: Exploring the Challenges and Opportunities

“…What impacts does mainstreaming have on firms, nature, and society, and how can such impacts be measured (Bai et al, 2024)? Does mainstreaming imply a continuation of "business as usual" or does it engender a qualitatively different way of doing business (Waddock, 2020) that goes "beyond the traditional business case" (Busch et al, 2024)? Who or what are the alternatives and opposition to mainstreaming?…”

Developing a transdisciplinary tool for water risk management and decision-support in Ontario, Canada

“…First, linear management approaches include government regulations and risk-informed strategies, including expert deliberation and techno-centric approaches focusing on scientific research and technology for risk mitigation (Vasvári 2015, Aven and Renn 2020, Klinke and Renn 2012. Then, precaution-based approaches include proactive self-regulatory approaches for resilience building in water-using sectors (Christ and Burritt 2018, 2019, Busch et al 2023. Finally, a discourse-based multi-stakeholder strategy entails participatory decision-making (Renn andKlinke 2015, Aven andRenn 2020).…”

“…The term 'actors' encompasses the various organizations, institutions, or individuals whose activities, actions, and decisions impact water security at the regional scales (de Loë and Patterson 2017). An influential but empirically underexplored non-state actor is the private sector, which can improve decisions, policies, and practices for sustainable water management (Johns 2017, Christ and Burritt 2019, Busch et al 2023, Sandhu et al 2023b. The private sector consists of businesses, which operationally depend on a large quantity and specific quality of local water resources, and financial institutions, who invest in, lend to, or insure these businesses (Hogeboom et al 2018, van Vliet 2023.…”