Responsible Business Practices Research Articles

Corporate accountability for climate change and natural environment in Nigeria: Trends, limitations and future directions

One of the contemporary problems in the business and human rights debate is the obligations of business enterprises to reduce and redress the adverse effects of their operations on the environment. In Nigeria, despite the existence of various regulations and monitoring institutions, environmental pollution caused by the activities of business enterprises persists. The impact of climate change and environmental damage on sustainable development in Nigeria can no longer be ignored as our common future is becoming critically dependent on making the condition of the environment and human lives our top priorities. There is need for a stringent legal framework on business and human rights in Nigeria, accelerated implementation of the National Action plan on business and human right, a committed implementation of existing regulations on environmental protection, strict enforcement of laws and proper awareness that will ensure responsible business practices by business enterprises in all key sectors in Nigeria. This study examines the concept of corporate accountability in Nigeria. It identifies the inadequacies of existing national laws on corporate accountability for environmental protection, and proffer solutions to these gaps.

Beyond breathing exercises: rethinking mindfulness through a Buddhist lens to combat unethical decision-making in organizations

Purpose The purpose of this study is to explore the intersection of mindfulness practices and ethical decision-making within organisational leadership. Drawing from ancient Buddhist principles and contemporary neuroscience, this study aims to illuminate how mindfulness can enhance cognitive and emotional regulation, thereby fostering ethical behaviour and improved decision-making among leaders and employees. By examining the theoretical and practical implications of mindfulness in the context of organisational behaviour, this research seeks to contribute to the development of more compassionate, ethical and effective leadership practices, ultimately promoting a more mindful and sustainable business environment. Design/methodology/approach This concept paper explores the integration of mindfulness meditation practices with decision-making, particularly its influence on ethical choices, through a comparative study of modern techniques and the ancient teachings of the Tripitaka. Using a methodology that spans literature review in organisational behaviour and leadership, alongside in-depth analysis of the Tripitaka and contributions from scholars like Bhikkhu Bodhi, the paper examines the potential of mindfulness in enhancing ethical decision-making. It incorporates a range of sources, including peer-reviewed journals and seminal books across various disciplines, to underscore the transformative potential of mindfulness in addressing contemporary challenges and guiding leadership practices. Findings This discussion explores how mindfulness, rooted in ancient Buddhist philosophy and aligned with modern neuroscience, can significantly enhance managerial decision-making by fostering a balance between cognitive and emotional factors. It delves into the transformative potential of mindfulness in refining thought processes, promoting ethical decision-making and mitigating cognitive biases. By bridging traditional wisdom with contemporary scientific insights, the analysis underscores mindfulness as an active, dynamic process crucial for personal growth and effective leadership in complex environments. Research limitations/implications One limitation of this research is its reliance on theoretical frameworks and literature reviews, which may not capture the full range of practical challenges in implementing mindfulness practices within organisations. Additionally, the diversity in mindfulness methodologies and the subjective nature of mindfulness experiences may affect the generalisability of the findings. Future research should include empirical studies to validate the proposed benefits of mindfulness in organisational settings and explore the most effective strategies for integrating mindfulness practices into leadership and decision-making processes. This would help in understanding how mindfulness can be tailored to suit different organisational cultures and individual preferences. Practical implications The practical implications of applying mindfulness in organisational settings include enhanced decision-making abilities, improved leadership effectiveness and increased employee well-being. Mindfulness training can equip leaders and employees with the skills to manage stress, navigate complex ethical decisions and maintain focus amidst distractions, leading to more thoughtful and responsible business practices. Organisations might see a reduction in conflict, enhanced creativity and better teamwork, contributing to a more harmonious and productive workplace. Implementing mindfulness programmes could also support talent retention and attraction by promoting a workplace culture that values mental health and ethical behaviour. Social implications The social implications of integrating mindfulness into organisational decision-making and leadership, as suggested by the document, include promoting ethical behaviour, enhancing emotional regulation and improving team dynamics. Mindfulness practices can lead to more informed and conscious decision-making, reducing cognitive biases and fostering a culture of ethical awareness within organisations. This shift towards mindful leadership could potentially transform organisational cultures, encouraging greater compassion, ethical responsibility and collective well-being, thereby contributing positively to broader societal values and norms. Originality/value The originality and value of this research lie in its novel integration of mindfulness concepts derived from ancient Buddhist teachings with contemporary neuroscience and organisational behaviour studies. By exploring the deep-rooted philosophical underpinnings of mindfulness and their applicability to modern ethical decision-making and leadership practices, this work offers a unique perspective that bridges historical wisdom with current scientific understanding. It provides a comprehensive framework for understanding the transformative potential of mindfulness in organisational settings, highlighting its capacity to foster ethical leadership, enhance decision-making processes and contribute to a more mindful, compassionate and sustainable business environment.

Embedding CSR into Public Relations: A Study from Polish PR Agencies

This study investigates the implementation and perception of Corporate Social Responsibility (CSR) within the public relations (PR) industry in Poland, with a focus on PR agency employees. Using a survey distributed among 192 PR professionals, this research evaluates the role of CSR in enhancing corporate reputation and engaging stakeholders, as well as its incorporation into PR strategies. The results indicate a significant alignment between CSR and PR practices, underscoring their combined effectiveness in fostering a positive corporate image. However, the findings also reveal a gap in the widespread understanding and integration of the CSR principles within PR efforts. The study advocates for further research on effective strategies that merge CSR and PR, with the aim of increasing both the societal and economic recognition of responsible business practices.

Collaborating a Dependent Business Model: Corporate Social Responsibility - Evidence from India

The research concludes that businesses in developing nations, notably India, exhibit a steadfast commitment to Corporate Social Responsibility (CSR). Despite marked advancements in CSR procedures, there remains a judgment for businesses to transcend self-interest and embrace a broader societal perspective. For multinational corporations (MNCs), robust CSR practices are indispensable for upholding their reputational integrity. The research utilizes secondary data of the Net Profit after taxes, CSR Spending and Budget for the Fiscal Years 2017–18 to 2021–22, Share prices for the fiscal years 2017–18 through 2021–22 on the BSE and NSE, and Sector-wise distribution of CSR initiatives from company websites, online databases, and annual reports. The findings suggest that businesses in developing nations, including India, are committed to CSR. While there has been an improvement in CSR practices, businesses are still not consistently going above and beyond or solely focusing on themselves. This study contributes valuable insights into the evolving CSR terrain within India, shedding light on the strides made and the persistent challenges encountered in fostering a symbiotic relationship between corporate profitability and social responsibility. By delineating these nuances, the research seeks to inform stakeholders and policymakers about the trajectory of CSR evolution, thereby fostering a conducive environment for sustainable and responsible business practices. The study provides valuable insights into the CSR landscape in India and the ongoing efforts to integrate responsible business practices.

Quantitative ABCD Analysis: Indian Household and Personal Care Sector

Purpose: The study aims to examine Indian Household and Personal care sector using the ABCD analytical methodology. It uses factor analysis and elementary analysis to evaluate some of the benefits, drawbacks, limitations, and advantages of the Indian Household and Personal care sector, offering a thorough grasp of the problems and their possible advantages. Methodology: Exploratory: The exploratory research method is used where the relevant information are collected through keyword-based search using search engines like Google, Google Scholar, and AI-driven GPTs and analysed, compared, and evaluated using suitable analysing frameworks. The results are interpreted as new knowledge obtained from this research and suggested in the form of outcome postulates. Findings/Result: The ABCD analytical approach indicates that both organizations and individuals are utilizing sustainable strategies to tackle pressing issues. By examining the Indian household and personal care sector, stakeholders can contribute to its growth, competitiveness, and societal impact, while ensuring responsible business practices and sustainable development. Originality/Value: This study employs the ABCD analysis method to analyse the Indian household and personal care sector. The study explores the sector's dynamics, market trends, consumer preferences, and regulatory landscape enabling businesses to develop effective strategies for product development, branding, distribution, and marketing through determinant issues and key attributes. Paper Type: Empirical Analysis

HOW IMPORTANT IS CSR COMMITMENT IN SHAPING CORPORATE REPUTATION?

Objective: The study investigates the relationship between CSR and corporate reputation, given the trend of companies integrating CSR to meet stakeholders’ expectations and enhance reputation. Theoretical Framework: The study employs stakeholder theory to emphasize positive stakeholder relationships' impact on corporate reputation, the institutional approach advocating strategic societal engagement, signal theory highlighting CSR's role in signaling commitment to stakeholders, and legitimacy theory emphasizing active CSR participation to maintain societal legitimacy. Method: We use a panel data model on a sample of the world's most admired companies between 2015 and 2019. The proxy considered for corporate reputation includes eight firms’ attributes. Results and Discussion: Findings provide the positive relationship between CSR and corporate reputation firstly the stakeholders’ theory which suggests that companies engage in CSR in order to improve their image and meet stakeholders’ expectations suggesting that ethical CSR practices can create a belief that the organization upholds ethical standards and cares about the well-being of society, which, therefore, positively influences corporate reputation. Research Implications: The study has direct implications for academia and business, emphasizing CSR’s importance in enhancing corporate reputation, urging transparent implementation of CSR initiatives, and highlighting competitive advantages associated with responsible business practices. Originality/Value: The study provides novel insights into the relationship between CSR commitment and corporate reputation by employing a comprehensive corporate reputation proxy and a panel data model analysis of globally renowned companies across various industries. It offers new insights into CEO motivations for CSR adoption.

Integrating Safety Practices into the Supply Chain for Sustainable Development in Malaysia's Building Construction Sites

The construction industry plays a vital role in driving sustainable development in Malaysia. However, the sector is also associated with various safety risks and challenges. Safety practices on building construction sites are crucial for the well-being of workers and the overall success of construction projects. This research employs a quantitative approach with descriptive analysis to the extent of the Integration of Safety Practices into the Supply Chain. Utilizing mean and standard deviation calculations, the study analyses rates, compliance levels and other key safety indicators across firms in the construction sectors. Addressing safety concerns at every stage of the supply chain, from sourcing raw materials to final project delivery, stakeholders can mitigate risks, minimize accidents and create a secure working environment. In the context of sustainable development, incorporating safety practices into the supply chain aligns with Malaysia's commitment to achieve the United Nations' Sustainable Development Goals. Specifically, it contributes to SDG 8 (Decent Work and Economic Growth) and SDG 11 (Sustainable Cities and Communities). By prioritizing safety, the construction industry can foster a culture of well-being and productivity, attract skilled workers, and promote responsible business practices. Key safety practices that can be integrated into the supply chain include rigorous supplier vetting, ensuring the use of certified and safe construction materials, implementing proper handling and storage procedures, and conducting regular safety training for all workers involved. Additionally, leveraging technology such as Internet of Things (IoT) devices, wearables, and real-time monitoring systems can enhance safety management and enable prompt response to potential hazards.

Exploring customer engagement tensions when pursuing responsible business practices

PurposeDesigning and developing responsible business practices can create various tensions for service organizations. The purpose of this research is to develop a deeper understanding of the relationship between customer engagement (CE) and responsible business practices (e.g. environmental, social and/or governance [ESG], corporate social responsibility [CSR] and diversity, equity, and inclusion [DEI]) and explore customer engagement tensions that service organizations may face.Design/methodology/approachThis research develops a list of CE-related responsible business practice tensions and empirically explores their relevance through in-depth interviews with nine ESG professionals.FindingsThis paper makes three important contributions. First, we find support for nine distinct but related tensions with implications for CE that organizations must navigate when pursuing responsible business practices. Second, interview participants provide some suggestions for tackling these tensions, which we support with relevant theories. Finally, we develop a conceptual framework that may stimulate future service research and inform the implementation of ESG strategies.Originality/valueTo the best of the authors’ knowledge, this research is the first to conceptualize and empirically explore the tensions that emerge between responsible business practices and CE. The authors develop a novel analysis of the CE-related tensions that emerge when pursuing an ESG strategy.Research limitations/implicationsThe findings are based on a small sample of ESG professionals. Future research may take a quantitative approach to further evaluate the role that these tensions play in engaging customers.Practical implicationsThis research provides a conceptual framework that may guide ESG professionals in understanding, framing and navigating CE-related tensions when pursuing responsible business practices.Social implicationsA social benefit may be found when service organizations are better able to successfully navigate CE-related tensions when pursuing responsible business practices.

Corporate Social Responsibility (CSR) and Sustainability in Water Supply: A Systematic Review

Although access to clean and safe water is a fundamental human right, millions of people around the world lack this essential resource. Through their CSR initiatives, companies are promoting responsible and sustainable practices to ensure the appropriate use and management of water resources. Using a systematic review and PRISMA framework, this study examined the impact of CSR initiatives on sustainable water supply. A total of 108 articles were identified, and 33 were subjected to further reviews and analysis. This study found that CSR initiatives contribute to sustainable water supply through water conservation, water stewardship, responsible supply chains, and various educational and training initiatives. This study found that CSR initiatives have been effective in transforming behaviors and converting millions of people around the world into water activists. Corporations are also leveraging new technologies to enhance efficiency in their operations and minimize excessive water waste. This study also found that corporations must build responsible business practices through ethical, economic, and environmental responsibility. Although CSR initiatives can be too costly for many organizations, businesses can reduce costs through strategic partnerships and leveraging technological innovations to promote water conservation and hygiene.

Environmental stewardship and corporate social responsibility: A review of case studies from the oil and gas sector

This review presents a comprehensive review of case studies focusing on environmental stewardship and corporate social responsibility (CSR) within the oil and gas sector. The oil and gas industry plays a pivotal role in global energy production, yet its operations often pose significant environmental and social challenges. In response, companies in this sector are increasingly embracing environmental stewardship and CSR principles to mitigate negative impacts and foster sustainable practices. The review examines a diverse range of case studies from various regions and contexts, highlighting both successful initiatives and notable challenges faced by oil and gas companies in integrating environmental stewardship and CSR into their operations. Key themes explored include environmental conservation efforts, community engagement, stakeholder collaboration, regulatory compliance, and technological innovation. Several case studies demonstrate innovative approaches adopted by oil and gas companies to minimize environmental degradation, such as implementing advanced technologies for emission reduction, investing in renewable energy projects, and restoring ecosystems affected by exploration and extraction activities. Moreover, successful CSR programs are showcased, emphasizing community development initiatives, education, healthcare, and infrastructure improvement projects aimed at enhancing the quality of life for local populations impacted by oil and gas operations. However, challenges persist, including balancing economic interests with environmental and social responsibilities, navigating complex regulatory landscapes, and addressing stakeholder concerns effectively. Despite these challenges, the case studies underscore the importance of proactive engagement, transparent communication, and continuous improvement in fostering environmental stewardship and CSR within the oil and gas sector. The review offers insights into best practices, lessons learned, and future directions for promoting sustainability and responsible business practices in the oil and gas industry, thereby contributing to the broader discourse on corporate environmental responsibility and societal impact mitigation.

ASSESSING CSR PRACTICES IN INDIA'S POWER SECTOR: A COMPREHENSIVE EVALUATION

This paper presents a comprehensive evaluation of Corporate Social Responsibility (CSR) practices within India's power sector. The study aims to analyze the extent, effectiveness, and impact of CSR activities undertaken by major power companies, focusing on sustainability, community development, and environmental stewardship. Through a mixed-methods approach, including qualitative case studies and quantitative data analysis, the research highlights best practices, identifies gaps, and offers recommendations for enhancing CSR initiatives. The findings suggest that while there is a growing commitment to CSR in the power sector, challenges such as inconsistent implementation and inadequate stakeholder engagement persist. This paper contributes to the discourse on CSR by providing actionable insights for policymakers, industry stakeholders, and academics interested in promoting responsible business practices in the energy sector.

An empirical model for branding oriented by the environmental sustainability of the Amazon Rainforest: a hybrid structural equation modeling with fsQCA approach

Utilizing the Theory of Planned Behavior, a meaningful connection between an organization and its consumers can be established, transcending mere appearances and delving into emotions, relationships, and brand experiences. In line with these principles, this study aims to present an empirical model grounded in factual evidence derived from the perspectives of entrepreneurs and consumers of environmentally sustainable brands in the Brazilian Amazon. The proposed model adopts a mixed-modeling approach, utilizing data analysis techniques such as fuzzy-set qualitative comparative analysis (fsQCA). Two independent data sets were collected: one from 8 companies operating in the Amazon rainforest and another from 535 potential consumers. By analyzing these datasets, consumer motivations for the consumption of sustainable brands, entrepreneurial practices, and the role of traditional communities and the forest environment in shaping brand perceptions were identified. The results reveal that, from the consumer’s perspective, the key factors influencing a positive inclination to purchase sustainable brands include the brand’s engagement with traditional com munities, perceived product quality, brand innovation, and a transparently communicated positioning strategy. These constructs form the core components of the main solution. This article provides valuable information for entrepreneurs operating sustainable brands in tropical forests as well as for policymakers in community-based entrepreneurship. It is also of interest to researchers and individuals involved in brand management as a strategy for empowering small businesses engaged in sustainable practices and community collaboration. The study’s findings and recommendations have the potential to foster more sustainable and socially responsible business practices, thereby enhancing local economies and contributing to environmental preservation.

The event‐driven social responsibility in small and medium‐sized enterprises

AbstractSince the survival and growth of small firms depend largely on their ability to acquire legitimacy within the institutional environment, social responsibility plays an important role in their lives. The aim of this study was to investigate how a disruption in the normal course of business can lead to an evolution and change in the social responsibility activities of small and medium‐sized enterprises. Such disruptions, called critical incidents, interrupt the normal functioning of the business. The case‐based exploratory study found that such critical events can have a positive impact. In particular, they can initiate the integration of socially responsible business practices. This is a journey from philanthropic donations to fully integrated socially responsible practices, often driven by internal triggering events such as organisational growth, unanticipated changes in management, or generational change, which allow new values to be brought on board. When such an internal event is followed by a highly critical but external event, such as the COVID‐19 pandemic, the transformation gains momentum. The findings also suggest that social responsibility can be a new source of competitive advantage.

From Compliance to Commitment: The Evolving Landscape of Sustainable Supply Chains considering BRSR and other Regulatory Frameworks

The global business landscape has witnessed a paradigm shift towards sustainability in recent years, with an increasing focus on responsible business practices. Maximum environmental impact is created at the value chain rather than the final producers. One crucial aspect of this shift is the adoption of sustainable supply chain management by companies worldwide. This abstract explores the role of companies in adapting to regulations such as the business responsibility and sustainability reporting (BRSR) frameworkand other similar initiatives aimed at enhancing environmental, social, and governance (ESG) performance. Sustainable supply chains play a pivotal role in mitigating traditional business operations’ environmental and social impacts. The BRSR framework and other regulatory mechanisms provide a structured approach for companies to disclose their sustainability efforts and demonstrate transparency in their supply chain activities. This study delves into the critical components of these regulations and how companies arenavigating the complexities of compliance. Companies increasingly recognize that integrating sustainability into their supply chains aligns with regulatory expectations and enhances long-term business resilience. This study will examine the role of sustainable supply chains in their procurement, production, and distribution processes to mitigate risks associated with climate change, resource scarcity, and social inequality. The study also explores companies’ challenges in implementing sustainable practices and innovative strategies to overcome these hurdles. In conclusion, this study emphasizes the evolving landscape of sustainable supply chains and the proactive measures companies take to adapt to regulatory frameworks like BRSR. By embracing sustainability as a core business value, companies comply with regulations, foster innovation, improve stakeholder relationships, and contribute to a more resilient and responsible global business ecosystem.

Environment Social Governance Performance and Capital Structure: Evidence in Indonesia and Malaysia

Purpose: This research aims to investigate the relationship between Environmental, Social, and Governance (ESG) performance and capital structure, using Debt-to-Equity Ratio (DER) and Debt-to-Asset Ratio (DAR) proxies, in Indonesia and Malaysia. The study seeks to address the gap in the literature by exploring how ESG factors influence the capital structure decisions of both financial and non-financial companies in these countries. Additionally, the research analyzes the impact of ESG performance on the cost of equity and cost of debt. Methods: The research utilizes secondary data extracted from annual reports and sustainability reports spanning from 2015 to 2020. A total of 102 companies, comprising 59 Indonesian companies and 52 Malaysian companies registered on CSRHub, are included in the analysis. ESG performance is assessed based on community, environmental, social, and governance indicators. Capital structure is measured using DER and DAR proxies. Statistical analysis techniques are employed to examine the relationship between ESG performance and capital structure, as well as its impact on the cost of equity and cost of debt. Results and Discussion: The research findings indicate that community, environmental, social, and governance performance exhibit a negative effect on the cost of equity, suggesting that companies with stronger ESG performance experience lower costs of equity financing. However, these ESG factors do not significantly affect the cost of debt. This implies that while ESG performance may influence equity holders' perceptions of risk and return, it may not have a direct impact on the cost of debt financing for companies in Indonesia and Malaysia. Implications of the Research: The results of this research have important implications for companies, investors, and policymakers interested in understanding the relationship between ESG performance, capital structure decisions, and financing costs. By demonstrating the impact of ESG factors on the cost of equity, the findings underscore the importance of integrating sustainability considerations into financial decision-making processes. Moreover, the research highlights the need for further investigation into the mechanisms through which ESG performance influences capital structure and financing costs. Originality/Value: This study contributes to the literature by offering novel insights into the relationship between ESG performance and capital structure in Indonesia and Malaysia. By examining the impact of ESG factors on both equity and debt financing costs, the research expands our understanding of how sustainability considerations influence corporate financial decisions. The findings provide valuable guidance for companies seeking to enhance their ESG performance and optimize their capital structure, ultimately contributing to more sustainable and responsible business practices in emerging markets.

The effect of digital zakat and accounting on corporate sustainability through financial transparency

This paper aims to investigate the effect of digital zakat and accounting on corporate sustainability, in addition to examining the moderating effect of financial transparency. A quantitative survey was employed to collect data from 298 Malaysian specialists using questionnaires on a 289-5th point Likert scale. The study utilized Smart-PLS 4.0 and SEM-PLS for the analysis of the data. The analysis revealed that digital accounting adoption was found to significantly and positively influence corporate sustainability. Integration of digital Zakat was also shown to have a substantial positive impact on corporate sustainability, aligning philanthropy with sustainability goals and enhancing overall corporate sustainability outcomes. Moreover, financial transparency was confirmed to play a crucial moderating role in strengthening the relationships between digital practices and corporate sustainability. Financial transparency positively influences corporate sustainability efforts by providing stakeholders with clear insights into a company's financial commitment to sustainability initiatives. This paper offers practical insights into the interconnected dynamics of digital accounting adoption, financial transparency, corporate sustainability, and digital Zakat integration. The findings of this study offer valuable practical implications for both scholars and practitioners in the fields of digital accounting and corporate sustainability, enhanced corporate sustainability through digital accounting adoption, and integrating digital zakat for sustainable philanthropy. By heeding these implications, both scholars and practitioners can work towards more responsible and sustainable business practices, fostering a positive impact on society and the environment while also building trust and confidence among stakeholders.

Structured Equations to Assess the Socioeconomic and Business Factors Influencing the Financial Sustainability of Traditional Amazonian Chakra in the Ecuadorian Amazon

This study focuses on investigating the dimensions of sustainability and their influence on financial-economic sustainability (FES) in traditional agroforestry systems (TAFS) using the case of the Amazonian Chakra. The main objectives were to analyze the dimensions of sustainability and to establish the causal relationships between these dimensions and the FES. To carry out this research, 330 households in Napo Province that use the Amazonian Chakra system to grow cocoa were selected in order to analyze the relationship between the different dimensions of sustainability and FES in this unique context. The results of the study show that practices related to food security (FS) and business factors (BF) have a positive and significant impact on the FES of cocoa-producing households in the Amazonian Chakra system. These findings support the importance of ensuring the availability and quality of food and promoting responsible business practices in these environments. In contrast, the dimensions of environmental resilience (ER) and biodiversity conservation (BC) showed a negative impact on FES, highlighting an economic-financial imbalance in relation to conservation and environmental resilience actions in the Amazonian Chakra. This study contributes to the knowledge needed to promote agricultural practices that include an equal focus on FES, biodiversity conservation, and environmental resilience practices in a globally significant area, providing valuable information for the design of sustainable agricultural policies and practices in the Amazonian Chakra.

Commitment to values: Examining the role of ethical and responsible business practices on short and long‐term value

AbstractFirms are under increasing pressure from external forces to do what is right and behave ethically. However, we have only a limited understanding of how ethical and responsible business practices impact the value of the firm, both in the short and the long term. In this study, we examine 196 firms that were recognized as the world's most ethical firms from 20 countries over a 14‐year span. Results show that ethical behavior may have little effect on a firm's profitability in the short term. However, it has a positive effect on a firm's market value, reflecting the market's positive assessment of its long‐term performance. We also find that firms frequently listed among the world's most ethical companies tend to have higher market value than firms listed only once.

Sustainability reporting in corporations: A comparative review of practices in the USA and Europe

As global awareness of environmental, social, and governance (ESG) issues intensifies, corporations are increasingly recognizing the importance of sustainability reporting in demonstrating their commitment to responsible business practices. This Review provides a comparative review of sustainability reporting practices in corporations, focusing on the distinctions between the USA and Europe. The USA and Europe, as major economic regions, exhibit distinct approaches to sustainability reporting, reflecting diverse regulatory frameworks, cultural considerations, and stakeholder expectations. This review delves into the key elements characterizing sustainability reporting in both regions, highlighting the convergences and divergences that shape corporate disclosure practices. In the USA, sustainability reporting is predominantly driven by voluntary initiatives and market forces. Companies often engage in ESG reporting to meet the expectations of investors, consumers, and other stakeholders who increasingly prioritize sustainable business practices. The absence of a standardized regulatory framework has led to a heterogeneous landscape of reporting methodologies, with some corporations adhering to global standards like the Global Reporting Initiative (GRI) or adopting industry-specific frameworks. In contrast, Europe has witnessed a more structured and regulatory-driven approach to sustainability reporting. The European Union (EU) has been at the forefront of shaping sustainable finance policies, introducing frameworks such as the Non-Financial Reporting Directive (NFRD) that mandate certain companies to disclose non-financial information. European corporations, therefore, navigate a more standardized reporting landscape, aligning with established frameworks like the EU Taxonomy Regulation and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. This comparative analysis explores the motivations behind sustainability reporting, the disclosure frameworks commonly employed, and the impact of regional regulatory contexts on corporate practices. By shedding light on the unique dynamics in the USA and Europe, this review contributes to a nuanced understanding of how corporations navigate the evolving landscape of sustainability reporting, ultimately fostering transparency, accountability, and responsible corporate citizenship.

Sustainable packaging innovations and their impact on HSE practices in the FMCG industry

Sustainable packaging innovations have emerged as a critical avenue for addressing environmental concerns and enhancing operational efficiency within the Fast-Moving Consumer Goods (FMCG) industry. This review delves into the multifaceted impact of sustainable packaging innovations on Health, Safety, and Environmental (HSE) practices within this sector. With the escalating global focus on environmental sustainability, FMCG companies are increasingly integrating sustainable packaging solutions into their operations. These innovations encompass a spectrum of approaches, including recyclable materials, biodegradable packaging, lightweight designs, and renewable resources. Such initiatives aim to mitigate the adverse environmental effects associated with traditional packaging practices, such as excessive waste generation and carbon emissions. The adoption of sustainable packaging innovations profoundly influences HSE practices in the FMCG industry. Firstly, it fosters a culture of environmental responsibility, prompting companies to prioritize eco-friendly materials and production processes. This shift aligns with regulatory standards and societal expectations, reducing the ecological footprint of FMCG products while enhancing brand reputation. Moreover, sustainable packaging innovations significantly impact health and safety aspects within FMCG operations. By reducing the reliance on non-biodegradable materials and hazardous substances, companies minimize occupational health risks for workers involved in packaging production and handling. Furthermore, lightweight packaging designs contribute to safer transportation and distribution practices, mitigating the likelihood of accidents and injuries along the supply chain. The integration of sustainable packaging innovations also engenders operational efficiencies within FMCG companies. Through optimization of packaging materials and processes, organizations can achieve cost savings, resource conservation, and enhanced supply chain resilience. These benefits bolster long-term competitiveness and profitability while reinforcing the commitment to HSE principles. Sustainable packaging innovations represent a transformative force within the FMCG industry, reshaping HSE practices and fostering a paradigm of environmental stewardship. As companies continue to prioritize sustainability in packaging strategies, they stand to realize tangible benefits in terms of regulatory compliance, operational efficiency, and brand differentiation. This review underscores the imperative for FMCG stakeholders to embrace sustainable packaging innovations as a cornerstone of responsible business practice in the 21st century.