INSEAD Library

Includes bibliographical references and index

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Managing the Business Case for Sustainability The Integration of Social, Environmental and Economic Performance Contents Foreword John Elkington Foreword Peter Forstmoser Introduction. Managing and Measuring the Business Case for Sustainability. Capturing the Relationship between Sustainability Performance, Business Competitiveness and Economic Performance Stefan Schaltegger and Marcus Wagner xi xiii 1 PART 1 THEORY ­ CONCEPTUAL APPROACHES 1 The Link between Environmental and Economic Performance Environmental Performance and Economic Performance. The Basic Links Leena Lankoski How Can Environmental Management Contribute to Shareholder Value? The Environmental Shareholder Value Approach Stefan Schaltegger 32 47 2 Social Performance and Economic Success Do Social Objectives Integrate with Core Corporate Objectives? The Future of Social Auditing Trevor Goddard Social Performance and Competitiveness. A Socio-Competitive Framework Kuno Spirig 64 82 vi 3 Integrative Approaches Managing the Business Case for Sustainability Mapping the Links of Corporate Sustainability. Sustainability Balanced Scorecards as a Tool for Sustainability Performance Measurement and Management Marcus Wagner and Stefan Schaltegger A Model of Financial Analysis at the Service of Sustainability Juan Piñeiro Chousa and Noelia Romero Castro Sustainable Value Added. A New Approach to Measuring Corporate Sustainable Performance Frank Figge and Tobias Hahn Sustainable Analysis of Industrial Operations. A Proof of Concept Demonstration Study Sonja Lynn Odom 108 127 146 165 PART II EMPIRICAL SURVEYS -- FINANCIAL MARKETS; INDUSTRY AND COUNTRY SURVEYS 4 Views from the Financial Markets The Economic Performance of European Stock Corporations. Does Sustainability Matter? Klaus Rennings, Michael Schröder and Andreas Ziegler Capital Markets and Corporate Environmental Performance. Research in the United States Dinah A. Koehler Sustainable Investment and Financial Performance. Does Sustainability Compromise the Financial Performance of Companies and Investment Funds? Eckhard Plinke and Andreas Knörzer Benchmarking Competitiveness and Management Quality with the Dow Jones Sustainability Index. The Case of the Automotive Industry and Climate Change Niki Rosinski 196 211 232 242 Contents vii 5 Industry Surveys Have Trends in Corporate Environmental Management Influenced Companies' Competitiveness? Henning Madsen and John P. Ulhøi Competitiveness, Environmental Performance and Management of SMEs David Hitchens, Jens Clausen, Mary Trainor, Michael Keil and Samarthia Thankappan IPPC and the Impact of Best Available Techniques (BAT) on the Competitiveness of European Industry. Survey of the European Non-Ferrous Metals Industry David Hitchens, Frank Farrell, Josefina Lindblom and Ursula Triebswetter 256 274 291 6 Country Surveys The Mutual Relationship between the Environmental Context and Management in the Netherlands Ronald S. Batenburg The Norwegian Environmental Business Barometer Bjarne E. Ytterhus Sustainability Performance of Countries. Based on the Example of Oekom Research AG's Country Rating Matthias Bönning Does a Nation's Ecological Performance Affect its Economic Stability? The Potential for Enhancing Sovereign Credit Risk Assessments with Ecological Resource Accounts Mathis Wackernagel, Chris Martiniak, Fred Wellington, Chad Monfreda, Steve Goldfinger, Justin Kitzes and Deborah Cheng 312 328 345 359 viii Managing the Business Case for Sustainability PART III EVIDENCE ­ STRATEGIES, CASE STUDIES AND MANAGEMENT SYSTEMS 7 Strategies and the Business Case for Sustainability Achieving Sustainable Corporate Competitiveness. The Strategic Link between Top Management's (Green) Commitment and Corporate Environmental Strategy Ki-Hoon Lee and Robert Ball Ecopreneurship and Competitive Strategies. Striving for Market Leadership by Promoting Sustainability Holger Petersen Building a Business Case for Corporate Sustainability Ulrich Steger Developing Value. The Business Case for Sustainability in Emerging Markets Jodie Thorpe and Kavita Prakash-Mani 378 398 412 444 8 Company Cases Managing Sustainability Performance in the Textile Chain Stefan Seuring and Maria Goldbach Sustainability and Competitiveness in the Renewable Energy Sector. The Case of Vestas Wind Systems Rolf Wüstenhagen 466 478 Path-Dependent Thinking and Eco-Products. An Empirical 493 Study of Socio-Cognitive Models and Product Propositions of Ford and Volvo Cars Mats Williander Honda and Toyota: Using Sustainability in a New Competitive Battleground Peter A. Stanwick and Sarah D. Stanwick Incremental Change towards Sustainability. Integrating Human and Ecological Factors for Efficiency Suzanne Benn and E. Jane Probert 516 542 Contents 9 Environmental Management Systems and Competitiveness ISO 14001: Profitable? Yes! But is it Eco-Effective? Jost Hamschmidt and Thomas Dyllick ix 554 The Promises and Pitfalls of ISO 14001 for Competitiveness and 569 Sustainability. A Comparison of Japan and the United States Eric W. Welch, Ashish Rana and Yasuhumi Mori What Makes Environmental Management Systems Successful? An Empirical Study in the German Manufacturing Sector Boris Braun 589 About the Contributors Index 615 621