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In today's globalized world, characterized by complex supply chain networks, integrating sustainability supply chain risks into the corporate assessment models seems crucial. To tackle the global challenges this paper presents a Sustainability Risk Assessment Framework that allows measurement of environmental and social risks upstream and downstream, along global supply chains, using a combination of quantitative methods (environmental and social footprint computing tools) and qualitative methods (hotspots analysis) from three dimensions (by scenarios, by product components, by lifecycle stage). To test this framework this study focuses on the mobile phone industry, due to the importance of its environmental and social impacts. The results show the low impact of recycling strategies in environmental terms and social terms on the mobile phone industry. Fostering re-use strategies by companies will substantially improve their impacts. This framework overcomes some of the weaknesses of the corporate sustainability risk assessment methodologies, combining quantitative methods and qualitative methods. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to empirically analyze a sound commitment and a consistent integration of sustainable development goals (SDGs) in the corporate reporting and management systems of companies that have a leading position in sustainability. Design/methodology/approach: The study applies a content analysis procedure based on a proposed analytical framework to codify the commitment and the SDG integration. In order to analyze the consistency of the integration, this study has provided a "SDG integration" score based on fuzzy inference systems methods. The companies in the sample have been identified as benchmarks in terms of sustainability in a specific region of Spain. Findings: The findings show a lack of formality regarding the SDG commitment at the highest decision-making level and a low level of SDG integration in the reporting and management systems. These results are mainly explained because the most companies do not prioritize according to the materiality analysis and those SDGs more reported have not been deployed along targets and KPIs in a consistent way. Research limitations/implications: The results provide practical implications that help to overcome the limitations in terms of comparison and consistency of the SDGs-reported information. It also illustrates how the leading sustainable companies are doing the SDG reporting and suggests which elements could be improved to promote a consistent integration of the SDGs in the management systems. Originality/value: This study provides new work lines in the promotion of an effective SDG-business reporting based on a robust management structure that allows an alignment among the SDG-business decisions based on a normative, strategic and operational approach. [ABSTRACT FROM AUTHOR]

Solutions will be effective if they are aligned with the problems that they are trying to solve. This paper studied the most relevant social impacts of the textile industry and how appropriately textile companies manage these social impacts, in order to achieve greater social sustainability in global supply chains. Therefore, we attempted to determine whether companies belonging to the textile product lifecycle identify and manage social impacts in keeping with the most relevant social hotspots in the supply chain of the textile industry. A consistency analysis was conducted based on the management of social indicators at the company level (identified through the analysis of contents of their sustainability reporting) connected with social impact categories defined in the Guidelines for Social Life Cycle Assessment of products provided by the United Nations Environment Programme, and the Society of Environmental Toxicology and Chemistry, and on the technical results obtained by the textile sector through the Social Hotspots Database. The results showed a predominant inconsistency between the main social hotspots of the textile industry showed in the footprint analysis and the social indicators specifically reported by the sector. This paper contributes to the literature about what sustainability management implies along global supply chains, emphasizing the need to advance in a consistent and science-based integration of social hotspots at the sectoral level and social management practices at the company level. In addition, the study could be relevant for companies belonging to complex and global supply chains, since it contributes towards enhancing the knowledge of science-based methodologies, as social life cycle assessments, for identifying, managing, and reporting their social hotspots. [ABSTRACT FROM AUTHOR]

Agricultural techniques and orchard management play an important role in food production sustainability and there is an increasing number of research papers that focus on food cradle-to-gate life cycle assessment. In addition, there is also an emerging body of research on short food supply chains and on whether or not proximity can be a proxy for sustainability in the agri-food system. The objective of this analysis is to consider the most relevant social and environmental impacts of the Environmental Footprint and Social Life Cycle Assessment in the citrus fruit sector and identify crucial hotspots. We will explore the relevance of the length of citrus fruit supply chains on maps of social and environmental impacts in order to reach more wiser sustainability-based decisions. The results obtained show mixed conclusions regarding the relevance and implications of choosing short food supply chains to achieve more sustainable food systems. [ABSTRACT FROM AUTHOR]

In a global context, it is crucial to measure and report the corporate sustainability impacts taking into account what is happening along the whole supply chains. The objective of this study is to analyze whether environmental measurement and reporting practices, currently developed by companies under a global supply chain context, are aligned with global environmental challenges and the environmental hotspots at the sectoral level. To tackle this objective, this study has been focused on the textile sector, due to the relevance of its environmental impacts. A research was conducted based on the analysis of global environmental challenges: (1) at company level, on the measurement and reporting of specific environmental indicators connected with the impact categories of the European Organization Environmental Footprint; and (2) on the analysis of textile industry environmental hotspots, through the technical tool SimaPro that allows their quantification and identification along the life cycle phases using different scenarios. The results show a consistency between global environmental challenges and company environmental disclosure; however, a disconnection between the specific environmental indicators reported by textile companies and the main hotspots of the sector are observed. This implies that companies could be managing environmental issues related to global environmental concerns but ignoring those critical environmental issues truly relevant from a technical point of view, according to the nature of their activity. The paper argues that is not only necessary to consider the corporate awareness regarding global environmental challenges, but also to address the real environmental hotspots at the sectoral level. This paper represents a contribution in the discussion about what sustainability management implies along the supply chains, emphasizing the need to advance in a consistent and science-based integration of global environmental challenges, environmental hotspots at the sectoral level and environmental management practices at company level. The results obtained help global chain actors and other organizations to address this challenge. [ABSTRACT FROM AUTHOR]

The development of sustainable finance favors the appearance of environmental, social, and governance (ESG) rating agencies as providers of ESG information and tools for measuring the contribution of companies to sustainable development. This paper attempts to show whether assessment methods adopted by eight ESG agencies are consistent with the Integrative ESG Sustainable Value Framework proposed according to the literature and sustainable business models (SBMs) conceptualization. An exploratory research analyzes whether these methods are identifying and/or driving more SBMs that contribute to promote the creation of sustainable value, seeking to generate economic, social, and environmental value. Results indicate that ESG rating agencies identify the short‐term results in the internal organizational perspective mainly in the environmental dimension, whereas social aspects are emphasized from the external organizational perspective. However, ESG rating agencies are not driving a more SBMs that must integrate ESG criteria in a holistic way with a short‐term and long‐term perspective. [ABSTRACT FROM AUTHOR]

The microfinance sector is considered an important contributor to the expansion of formal financial systems. It plays a significant role in sustainable development. Microfinance institutions (MFIs) as key actors in the microfinance sector require an organizational management framework that facilitates sustainable growth. The objective of this study is to define a balanced MFI sustainability approach that considers financial, environmental, social and governance dimensions as equally important. Through a clustering process, this research establishes the relationship between the various sustainability indicators provided by MixMarket, and it determines different MFI sustainability profiles. This research uses the Kruskal–Wallis method to characterize each group based on outreach, financial and risk indicators. The results show that there is no balance between the different sustainability areas, and lead to the conclusion that it is necessary to promote an integrative approach to foster sustainability management practices in the microfinance industry. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this study is to improve the understanding of stakeholder engagement in the context of sustainability reporting (SR) for higher education institutions (HEIs), together with the materiality principle and stakeholder expectations.Design/methodology/approach This research uses an exploratory approach based on content analysis, a case study and descriptive and inferential statistics.Findings Three key findings come out of this research. First, the results indicate that HEIs use diverse criteria for grouping stakeholders and that stakeholder engagement is a heterogeneous process. Second, the expectations of internal stakeholders align with the material aspects of SR. Finally, among internal stakeholders, students and academics disagree on the prioritisation of some sustainability aspects, with non-academic staff adopting an intermediate position.Practical implications This analysis improves our knowledge of stakeholder engagement in HEIs. It helps to identify the relevant impacts of stakeholder engagement, enhances the quality of reporting and encourages a real dialogue with stakeholders.Originality/value The study examines stakeholder engagement and how the materiality principle is adopted by HEIs through SR. Furthermore, it compares these results with stakeholder expectations, considering the discrepancies between stakeholders. The results open the way to future research to explore the potential conflicts and collaborations between and within stakeholders to advance towards more sustainable institutions in the higher education sector. [ABSTRACT FROM AUTHOR]

The integration of sustainability principles into the assessment of companies along the supply chains is a growing research area. However, there is an absence of a generally accepted method to evaluate corporate sustainability performance (CSP), and the models and frameworks proposed by the literature present various important challenges to be addressed. A systematic literature review on the supply chain at the corporate level has been conducted, analyzing the main strengths and gaps in the sustainability assessment literature. Therefore, this paper aims to contribute to the development of this field by proposing an assessment framework a leading company can adopt to expand sustainability principles to the rest of the members of the supply chain. This proposal is based on best practices and integrates and shares efforts with key initiatives (for instance, the Organizational Environmental Footprint from the European Commission and United Nations Environment Programme and the Society of Environmental Toxicology and Chemistry UNEP/SETAC); moreover, it overcomes important limitations of the current sustainability tools in a supply chain context consistent with the circular economy, the Sustainable Development Goals (SDGs), planetary boundaries, and social foundation requirements. The results obtained create, on the one hand, new opportunities for academics; and, on the other hand, in further research, the use of this framework could be a means of actively engaging companies in their supply chains and of achieving the implementation of practical and comprehensive CSP assessment. [ABSTRACT FROM AUTHOR]

Assessing corporate environmental performance (CEP) that is both comprehensive and consistent with sustainable development both for society and companies, while at the same time taking heed of the facts and interests of each stakeholder, is not a simple feat. Due to the multidimensional character of the sustainability concept, several questions must be considered in the evaluation process: (i) the qualitative nature of indicators and the complexity of developing a synthetic index; (ii) the difficulty of choosing properly statistical techniques for aggregation and (iii) the difficulty of introducing stakeholders' preferences in the assessment models. This paper is an attempt to address this challenge by developing a framework for the assessment of CEP, based on the application of a fuzzy multi-criterion decision-making (MCDM) method. To achieve positive scores in a CEP assessment, an organization should be strategically committed and engage in environmental management and governance structures that are translated into good results in terms of both engagement and operational performance. Unless such premises are explicitly incorporated into the assessment criteria, the results would reveal that the CEP measurement could not be brought into a line with an earnest ambition of achieving true sustainable development. Copyright © 2015 John Wiley & Sons, Ltd and ERP Environment [ABSTRACT FROM AUTHOR]

This study aims to explore how environmental, social and governance (ESG) consistency impacts the firm performance, specifically, the relationship between ESG performance and economic performance (EP). This study posits that the company’s commitment and effectiveness towards the creation of consistent competitive advantage in environmental, social and governance dimensions constitutes an intangible value that leads improvements in corporate performance. This work uses a panel dataset for listed firms of the EU-15 countries during the period 2002 to 2011 and applies Generalized method of moments (GMM) estimator system in order to address the potential unobserved heterogeneity and dynamic endogeneity. The main results reveal that the global effect of ESG performance on EP for those firms that present interdimensional consistency is greater than the rest, except for higher levels of ESG performance. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to analyse whether the onset of the financial crisis caused changes in the influence of top management team (TMT) on corporate results. Design/methodology/approach – The sample is comprised of the list of S & P 500 Index firms between 2002 and 2008. The study uses a longitudinal panel methodology applying a two-step GMM estimator system. This approach addresses potential unobserved heterogeneity, simultaneity, and dynamic endogeneity. Findings – The primary results reveal that the onset of the financial crisis stimulated those TMTs with large teams and a high frequency of meetings to improve corporate performance, without leading to a reduction in corporate risk taking. Originality/value – This study reveals that different environmental conditions call for different behaviour from TMTs to fulfil their responsibilities. This study also suggests changes in normative and voluntary guidelines for improving the quality of the TMT’s work. [ABSTRACT FROM AUTHOR]

This study explores the mediating role of corporate social responsibility (CSR) management quality in the relationship between board diversity and CSR performance. It states that generational diversity is a consistent construct of age diversity as variety, and uses three different proxies to measure CSR management quality and performance. The sample consists of 146 companies listed in FTSE 100, DAX 30, and CAC 40 for the year 2009. The results reveal that generational diversity enables a more effective design of vision and strategies to address financial and extra-financial aspects, and consequently, it encourages companies to adopt a sustainable approach to their businesses. This study concludes that generational diversity is a key component for improving good corporate governance codes. The findings of this research recommend enhancing generational diversity in board structures to encourage sustainability in firms that aspire to be in tune with the needs of the times. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment [ABSTRACT FROM AUTHOR]

ABSTRACT The debate surrounding the financial needs of investors and the impact on society of investment is considered to be an important research topic due to the growth of socially responsible financial markets. The main objective of this research is to study society's perception about socially responsible investing (SRI) and to identify investor's preferences regarding environmental, social and governance criteria, their real-life investment needs and the most relevant sustainable financial products. To examine society's perception of SRI, we conducted a field survey among Spanish investors. The results show that SRI is at an early stage and Spanish investors need more exact information regarding social, environmental, and governance criteria in order to invest in socially responsible companies and products. This paper offers some guidelines that could be used by Spanish institutions, managers and investors and by foreign managers when approaching the Spanish market, in order to promote the growth of socially responsible financial products. Copyright © 2012 John Wiley & Sons, Ltd and ERP Environment. [ABSTRACT FROM AUTHOR]

Banking firms are becoming increasingly aware that their clients’ management of environmental and social risks may in term threaten their own business as lenders and investors. In addition, stakeholders are requiring banks to improve their social performance. As a result, some banks are developing corporate social responsibility (CSR) policies and management systems to reduce potential risks and improve their performance. In the Spanish financial system, half of the banking firms are savings banks, most of which have always used some Corporate Social Responsibility (CSR) criteria in their management. Private Banks have only recently started to integrate social aspects in their performance. However, no formal analysis has been carried out on the impact of CSR strategies. Various initiatives have been launched nationally and internationally to include the social dimension in management systems. The purpose of this research is to analyse the social performance of the main Spanish financial companies through public data such as social or sustainability reports and media sources. In order to do this, we need to determine which CSR criteria most greatly affect banking firms and to choose the most accurate quantitative and qualitative indicators to measure social performance. [ABSTRACT FROM AUTHOR]

This article presents a case study of socially responsible investment (SRI) in Spain. It aims: to point out the corporate social responsibility (CSR) aspects of ethical investment funds and to review the literature in these aspects; to depict the development of ethical investment funds in Spain; and, to make a proposal for social performance that would serve as an approximation for classifying and evaluating the CSR of SRI funds and Spain. This study demonstrates that in Spain, socially responsible funds are classified as ethical and solidarity funds by the National Stock Market Commission. The first ones must have an ethical, social or environmental ideology; the second ones are those which give a percentage of their management commission to certain beneficiary non-governmental organizations, without any ethical concern in asset management. In Spain, ethical investments funds are still an incipient sector of investment. Their social responsibility managerial practices are in an early stage of development. There is no explicit application of the mechanisms and techniques enabling the pre-selection of the portfolio to be applied and they do not have an explicit policy of engagement and voting.

In the last few years, considerable attention has been paid to microfinance as a relevant participant in the formal financial system, whose target audience is people who are otherwise at risk of financial exclusion. In parallel, sustainability and the promotion of Sustainable Development (SD) are imposed as the theoretical frame when facing any study. This, connected with cultural and organizational dimensions theories, are the analytical framework for the analysis of the relationship between the context of performance in which Microfinance Institutions (MFIs) operate and their activity in promoting sustainability. A holistic approach is necessary to make operational these concepts; for that reason, financial, environmental, social and governance dimensions (FESG), and the balance among them, have to be considered. The main objective of the paper is to explore to what extent MFIs are fostering SD, and how this promotion is performed by region. For the analysis, two different sources of information have been studied: sectoral academic literature that focuses on the different sustainability dimensions, and MIX Market sustainability data obtained from the MFIs. A keyword analysis of the selected papers has been executed to be conscious of the most investigated aspects by region; on the data provided by the institutions, a Kruskal-Wallis H test has been performed to learn what the main Sustainability Indicators (SIs) are that are reported affirmatively. To obtain comprehensive research, a comparative study of the results offers the convergences, divergences and gaps of information in each of the regions. The findings show significant differences depending on the region, and confirm that operationalization should be adjusted at the regional context of the MFIs. The paper, with the inherent limitations due to data quality, also offers recommendations for the better promotion of sustainability in each of the regions. [ABSTRACT FROM AUTHOR]

Environmental, social, and governance (ESG) rating agencies, acting as relevant financial market actors, should take a stand on working towards achieving a more sustainable development. In this context, the objective of this paper is, on the one hand, to understand how criteria used by ESG rating agencies in their assessment processes have evolved over the last ten years and, on the other hand, to analyze whether ESG rating agencies are contributing to fostering sustainable development by the inclusion of sustainability principles into their assessment processes and practices according to the ESG criteria. This research is based on a comparative descriptive analysis of the public information provided by the most representative ESG rating and information provider agencies in the financial market in two periods: 2008 and 2018. The findings show that ESG rating agencies have integrated new criteria into their assessment models to measure corporate performance more accurately and robustly in order to respond to new global challenges. However, a deep analysis of the criteria also shows that ESG rating agencies do not fully integrate sustainability principles into the corporate sustainability assessment process. [ABSTRACT FROM AUTHOR]