Balancing global corporate sustainability engagement in asymmetric markets: The Coca-Cola Co. case

Abstract

Motivated by the changes in the understanding and the growing importance of sustainability engagement among companies, investors, and societies, this paper has for objective to understand how a multinational corporation adjusts its sustainability engagement to different cultures, institutions, and market realities as this topic becomes imperative through the triad Environment, Social, and Governance (ESG) responsibilities. To that end, a qualitative case study of The Coca-Cola Company was used as the basis for this research. The methodology chosen supported the analysis of a situation where an international company operating in different markets must implement a balanced approach in order to fulfill its asymmetries. One important finding was that ESG implementation depends on local resources, which may lead to further asymmetries instead of increased global balance. Another result presented is a model that helps identify essential corporate sustainability issues for defining the strategies, targets, and plans for global, local, and individual levels that may be used by researchers and practitioners alike. This model shall be refined and improved by future research with other organizations that operate globally and must adjust their corporate sustainability strategy according to the United Nations' Sustainable Development Goals while using local implementation strategies aligned with the national institutional realities of the different countries.