Abstract
Background: The Sustainable Development Goals (SDGs) recognize the key role of business in achieving targets. Corporations have embraced the strategy of “Creating Shared Value (CSV)” to enhance corporate competitiveness and profitability while working on social and environmental issues. Despite substantial acclaim for synergy of integrating the SDGs and the concept of shared value, the linkage between the SDGs and CSV is under-researched. This present study aims to examine how CSV and the SDGs are understood and pursued in relation to each other. Methods: This research employed a case study design. Documents of the Australian Government, companies and civil society were thematically analyzed to understand the conceptualization and operationalization of CSV in the Australian context. Results: Findings suggest that the SDGs are well-aligned with the values held by the Australian Government and citizens. Relative to the SDGs, Australian companies have framed their CSV closely but operationalization of shared value still needs a stronger connection with the SDGs. Key themes were the necessity for incentives and support for companies, the government’s leadership and coordination role, and participation of civil society. Conclusions: This case study presented the potential of CSV for attainment of the SDGs and corporate sustainability. Societal commitment to core values such as human rights and equality may be the key to SDG-CSV harmonization and multi-stakeholder collaboration.
Highlights
The Sustainable Development Goals (SDGs), adopted by 193 UN member states in 2015, included an agenda of shared value, which emphasizes the role of the private sector as well as conventional development actors
The 2019 Report on the UN Sustainable Development Goals (SDG) noted that core values of the SDGs are well aligned with Australian values such as cooperation, a fair go, being a good neighbor and gender equality (A)
This is well captured by a quote from the United Nations Association of Australia stating that “the SDGs is a demonstration of our true national values
Summary
The Sustainable Development Goals (SDGs), adopted by 193 UN member states in 2015, included an agenda of shared value, which emphasizes the role of the private sector as well as conventional development actors. The SDGs are suggested as useful for fostering organisational learning in the business sector [4] As both the SDGs and CSV emerged recently, research on the nexus of the two is limited. Corporations have embraced the strategy of “Creating Shared Value (CSV)” to enhance corporate competitiveness and profitability while working on social and environmental issues. Despite substantial acclaim for synergy of integrating the SDGs and the concept of shared value, the linkage between the SDGs and CSV is under-researched. This present study aims to examine how CSV and the SDGs are understood and pursued in relation to each other
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