The Sustainable Company


Book Description

For the past two decades corporate governance reform in Europe has been guided by the ‘shareholder value’ model of the firm. That model has been discredited as one of the major causes of the financial and economic crisis. In a new book published by the ETUI an alternative approach to corporate governance is presented by members of the GOODCORP network of researchers and trade unionists. This new approach, entitled the Sustainable Company, draws on both traditional ‘stakeholder’ models of the firm and newer concerns with sustainability. The main elements of the Sustainable Company and the institutions needed to support it are presented. Key themes in the book are the need for worker ‘voice’ in corporate governance and for a binding legislative framework to promote sustainability. Individual chapters deal with the issues of worker involvement, employee shareholding, sustainability-oriented remuneration, international framework agreements, NGO-trade union relationships, reforming financial regulation and carbon taxes and emissions-trading schemes.




Governance for Sustainable Development


Book Description

As the process of globalization continues and power imbalances between decision-making institutions become increasingly apparent, the need for a critical assessment of the way in which we manage our interaction with the natural environment becomes ever more urgent. Good governance was identified at the World Summit on Sustainable Development as a critical factor for ensuring successful sustainable development. This book builds on the briefing papers that were presented at the Summit, taking further the discussions of the WEHAB agenda (Water, Energy, Health, Agriculture and food, and Biodiversity - the five international priority sectors highlighted by UN Secretary General Kofi Annan). This is a unique offering on the role and reform of global institutions and processes, raising issues that have previously been neglected in international discussions.




Governance for the Sustainable Development Goals


Book Description

This book provides a detailed overview of governance for the Sustainable Development Goals (SDGs). Adopting a unique integrative approach, it examines the fragmentation of governance that is a critical barrier to achieving the SDGs. The main question addressed is: What are the crucial elements and the organizing logic of an integrative framework that is suitable for analysing governance for the SDGs and for implementing the transitions that we need towards a more sustainable world? This transdisciplinary book first proposes a combination of innovative governance theories that can improve the analysis and practice of sustainability governance. Secondly, it explores the interests of core actors in a number of case examples. And thirdly, it offers recommendations for improving the study and practice of sustainability governance. The findings presented form the basis for a new approach to governance towards objectives such as the SDGs: Integrative Sustainability Governance (ISG). The ensuing ISG framework includes indicator frames within the pillars of power, knowledge and norms. The book concludes that the transformation of crisis into sustainability transitions requires a deeper consideration of risk management that strengthens resilience; systems deliberation that complements democracy; and behavioral insights that elevate human awareness and collaboration. This handbook is a comprehensive and valuable companion for students, experts and practitioners with an interest in the SDGs.




Sustainable Governance of Wildlife and Community-Based Natural Resource Management


Book Description

This book develops the Sustainable Governance Approach and the principles of Community-Based Natural Resource Management (CBNRM). It provides practical examples of successes and failures in implementation, and lessons about the economics and governance of wild resources with global application. CBNRM emerged in the 1980s, encouraging greater local participation to conserve and manage natural and wild resources in the face of increasing encroachment by agricultural and other forms of land use development. This book describes the institutional history of wildlife and the empirical transformation of the wildlife sector on private and communal land, particularly in southern Africa, to develop an alternative paradigm for governing wild resources. With the twin goals of addressing poverty and resource degradation in the world’s extensive agriculturally marginal areas, the author conceptualises this paradigm as the Sustainable Governance Approach, which integrates theories of proprietorship and rights, prices and economics, governance and scale, and adaptive learning. The author then discusses and defines CBNRM, a major subset of this approach. Interweaving theory and practice, he shows that the primary challenges facing CBNRM are the devolution of rights from the centre to marginal communities and the governance of these rights by communities, a challenge which is seldom recognised or addressed. He focuses on this shortcoming, extending and operationalising institutional theory, including Ostrom’s principles of collective action, within the context of cross-scale governance. Based on the author’s extensive experience this book will be key reading for students of natural resource management, sustainable land use, community forestry, conservation, and development. Providing practical but theoretically robust tools for implementing CBNRM it will also appeal to professionals and practitioners working in communities and in conservation and development.




Metagovernance for Sustainability


Book Description

The 17 Sustainable Development Goals (SDGs) which were adopted by the United Nations in September 2015 are universally applicable in all 193 UN Member States and connect the big challenges of our time, such as hunger and poverty, climate change, health in an urbanised environment, sustainable energy, mobility, economic development and environmental degradation. Sustainability has the characteristics of a ‘wicked problem’, for which there are no one-size-fits-all solutions. This book tests the hypothesis that the implementation of sustainable development, and in particular the 2015 SDGs, requires tailor-made metagovernance or ‘governance of governance’. This is necessary to develop effective governance and high quality and inclusive public administration and to foster policy and institutional coherence to support implementing the SDGs. Based on the growing literature on governance and metagovernance, and taking into account the specificities of societal factors such as different values and traditions in different countries, the book presents a framework for the design and management of SDG implementation. It shows how hierarchical, network and market governance styles can be combined and how governance failure can be prevented or dealt with. The book presents an overview of fifty ‘shades of governance’ which differ for each governance style, and a sketch of a concrete method to apply sustainability metagovernance. Metagovernance for Sustainability is relevant to academic and practitioner fields across many disciplines and problem areas. It will be of particular interest to scholars, students and policy-makers studying Sustainable Development, Governance and Metagovernance, Public Management and Capacity Building.




Achieving the Sustainable Development Goals


Book Description

This book draws on the expertise of faculty and colleagues at the Balsillie School of International Affairs to both locate the Sustainable Development Goals (SDGs) as a contribution to the development of global government and to examine the political-institutional and financial challenges posed by the SDGs. The contributors are experts in global governance issues in a broad variety of fields ranging from health, food systems, social policy, migration and climate change. An introductory chapter sets out the broad context of the governance challenges involved, and how individual chapters contribute to the analysis. The book begins by focusing on individual SDGs, examining briefly the background to the particular goal and evaluating the opportunities and challenges (particularly governance challenges) in achieving the goal, as well as discussing how this goal relates to other SDGs. The book goes on to address the broader issues of achieving the set of goals overall, examining the novel financing mechanisms required for an enterprise of this nature, the trade-offs involved (particularly between the urgent climate agenda and the social/economic goals), the institutional arrangements designed to enable the achievement of the goals and offering a critical perspective on the enterprise as a whole. Achieving the Sustainable Development Goals makes a distinctive contribution by covering a broad range of individual goals with contributions from experts on governance in the global climate, social and economic areas as well as providing assessments of the overall project – its financial feasibility, institutional requisites, and its failures to tackle certain problems at the core. This book will be of great interest to scholars and students of international affairs, development studies and sustainable development, as well as those engaged in policymaking nationally, internationally and those working in NGOs.




Environmental, Social, and Governance (ESG) Investing


Book Description

Environmental, Social, and Governance (ESG) Investing: A Balanced Analysis of the Theory and Practice of a Sustainable Portfolio presents a balanced, thorough analysis of ESG factors as they are incorporated into the investment process. An estimated 25% of all new investments are in ESG funds, with a global total of $23 trillion and the U.S. accounting for almost $9 trillion. Many advocate the sustainability goals promoted by ESG, while others prefer to maximize returns and spend their earnings on social causes. The core problem facing those who want to promote sustainability goals is to define sustainability investing and measure its returns. This book examines theories and their practical implications, illuminating issues that other books leave in the shadows. Provides a dispassionate examination of ESG investing Presents the historical arguments for maximizing returns and competing theories to support an ESG approach Reviews case studies of empirical evidence about relative returns of both traditional and ESG investment approaches




Corporate Social Responsibility – Sustainable Business


Book Description

In a dramatic departure from its voluntary origins, corporate social responsibility (CSR) is rapidly shifting to hold multinational companies accountable for more than traditional shareholder performance. This CSR movement is embracing new environmental, social and governance (ESG) frameworks that both promote global sustainability goals and enhance accountability for negative impacts businesses can have on ‘planet and people’. This collection of essays by leading businesspeople, international civil servants, legal practitioners, academics, and other experts offers a forward-looking and pragmatic perspective that illuminates the major themes in this movement towards increasingly sustainable, transparent and accountable business practices. The collection shows how CSR has evolved to account for societal pressures, environmental, climate change and human rights impacts, international policy imperatives and the practical challenges of regulating commercial activity that transcends borders. The chapters offer an in-depth examination of current issues including: international frameworks and multistakeholder initiatives catalysing foundational change; the shifting emphasis on corporate imperatives to avoid harm to third parties; trends in CSR, focused on assuring the planet's future sustainability and social stability; regulatory initiatives around the globe, including Europe, North America, Asia and Africa; and extended accountability for activities of corporate group members and supply chains. The pressure and business case for companies to incorporate CSR into corporate governance is intensifying with each quarter, shareholder meeting, and regulatory agenda. The integration of CSR and new ESG frameworks into multinational corporate strategy and operations is key to sustainable business models that can generate long-term value for the organization and all stakeholders. Their acceptance as cornerstones of 21st century business practice appears inevitable. Taking full account of the imperative for companies and their lawyers to grapple with the practical and legal challenges in this area, this volume is an invaluable and pragmatic addition to the practitioners’ toolbox at this important juncture in an ever-more dynamic field.




Governance and Business Models for Sustainable Capitalism


Book Description

Governance and Business Models for Sustainable Capitalism touches upon many of the central themes of today’s debate on business and society. In particular, it brings attention to a recurrent tension between efficiency, innovation, and productivity on the one hand, and fairness, equity, and sustainability on the other. The book argues that we need radical rethinking of business models and economic governance, beyond the classical doctrine, which sees social and ecological responsibility as lying with public-policy regulation of purely profit-seeking firms. In spite of the popular CSR agenda, business – as we know it today – is both too transient and too limited in its motivation to carry the regulatory burden. We need to adopt a much wider concept of 'partnered governance', where advanced states and pioneering companies work together to raise the social and environmental bar. The book suggests that civil engagements based on moral rather than formal rights, and amplified through the media, may provide a healthy challenge both to autocratic planning and to solely profit-centered commercialization. The book also proposes a triple cycle theory of innovation for sustainability: a novel framing of the efficacy of green and prosocial entrepreneurship as intertwined with political visions and supportive institutions. In addition, the book offers reflections on the ways in which further digital robotizaton may enable transition to an ‘Agora Economy’ where productive efficiency is combined with expanded civic freedoms. Aimed primarily at researchers, academics, and students in the fields of political economy, business and society, corporate governance, business ethics, corporate social responsibility, and sustainability, the book will additionally be of value to practitioners, supplying them with information regarding the challenges associated with the shaping of sustainable or ‘civilised’ market capitalism for a better world.




Sustainable Governance


Book Description

The role of governance as a fundamental pillar of sustainability is widely recognized and confirmed by its inclusion in the main ESG issues (environmental social governance). Through the complex role of governance in the context of ESG, research has developed the notion of sustainable corporate governance, i.e., a system based on the integration of shareholder and stakeholder objectives that protects the environment and the broader community. This book provides a sound theoretical definition, a precise measurement system, and best practice examples for the implementation of sustainable corporate governance. It includes theoretical foundations based on stakeholder and institutional theories from different environments and contexts, such as developed and developing economies, large publicly traded companies and SMEs, and family businesses. In addition to explaining the concept theoretically, it uses practical case studies to address the effective integration of sustainable governance into corporate structures. The book provides business students and researchers with an in-depth analysis of the emerging concept of sustainable governance and is valuable for academics as well as corporate and financial market participants.