Aligning multinational corporate strategies with Sustainable Development Goals: A case study of an Italian energy firm's initiatives in developing markets

Abstract

AbstractThis paper investigates the strategic role of multinational corporations (MNCs) in realizing the United Nations Sustainable Development Goals (SDGs) through the lens of creating shared value (CSV) strategies. It presents a comprehensive case study of a prominent Italian multinational energy corporation, demonstrating its application in the energy sector. The paper explores the nuances of CSV implementation, particularly in developing markets like Chile, Brazil, and Colombia, guided by Institutional and Stakeholder theories. It examines the corporation's responsive adaptation to local needs and challenges, and its alignment of business operations with sustainable development objectives. The findings underscore the significance of local stakeholder engagement and the critical role of leadership in fostering a culture of sustainability within the organization. This study expands on previous literature by offering insights into the practical implementation of CSV strategies by MNCs in developing markets. It sheds light on the complexities of integrating global sustainability standards with local institutional dynamics and stakeholder collaboration, enriching the understanding of how MNCs can contribute meaningfully to the SDGs.