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Aligning Corporate Social Responsibility with Green Economy Development Pathways in Developing Countries

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  • Kalim U. Shah
  • Surendra Arjoon
  • Meena Rambocas

Abstract

Corporate social responsibility (CSR) can be conceptualized as a mechanism through which private sector investment aligns with and shapes sustainable development. In recent years the new economic paradigm of the green economy has been adopted by many developing countries and forwarded by governments and multilateral institutions. It is in this burgeoning socio‐economic context that firms will practice their CSR. In this study, we explore the determinants of such CSR in a green economy by using structural equation modeling techniques to analyze empirical data collected from five Caribbean countries already on the green economy pathway. We find that firm level environmental policies and to a lesser extent relationships with external stakeholder networks are the main determinants of CSR in the green economy. Firms’ environmental practices and internal practices also influence CSR, but only indirectly when mediated by their environmental policies. The findings suggest that firm level environmental policies are critical to successfully aligning CSR with sustainable development in the green economy context. Copyright © 2016 John Wiley & Sons, Ltd and ERP Environment.

Suggested Citation

  • Kalim U. Shah & Surendra Arjoon & Meena Rambocas, 2016. "Aligning Corporate Social Responsibility with Green Economy Development Pathways in Developing Countries," Sustainable Development, John Wiley & Sons, Ltd., vol. 24(4), pages 237-253, July.
  • Handle: RePEc:wly:sustdv:v:24:y:2016:i:4:p:237-253
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    Cited by:

    1. Hongda Liu & Pinbo Yao & Xiaoxia Wang & Jialiang Huang & Liying Yu, 2021. "Research on the Peer Behavior of Local Government Green Governance Based on SECI Expansion Model," Land, MDPI, vol. 10(5), pages 1-26, May.
    2. Haitao Wu & Shiyue Luo & Suixin Li & Yan Xue & Yu Hao, 2024. "Fostering Urban Inclusive Green Growth: Does Corporate Social Responsibility (CSR) Matter?," Journal of Business Ethics, Springer, vol. 189(4), pages 677-698, February.
    3. Weiwei Wu & Rizwan Ullah & Syed Jamal Shah, 2020. "Linking Corporate Environmental Performance to Financial Performance of Pakistani Firms: The Roles of Technological capability and Public awareness," Sustainability, MDPI, vol. 12(4), pages 1-18, February.
    4. José Ventura & Kety Jauregui, 2023. "Poverty Reduction through Corporate Social Responsibility: Case Study of Peruvian Rural Families," Sustainability, MDPI, vol. 15(2), pages 1-20, January.
    5. Muhammad Azher Hassan & Tariq Mehmood & Ehtisham Lodhi & Muhammad Bilal & Afzal Ahmed Dar & Junjie Liu, 2022. "Lockdown Amid COVID-19 Ascendancy over Ambient Particulate Matter Pollution Anomaly," IJERPH, MDPI, vol. 19(20), pages 1-31, October.
    6. Yi Gao & Zhiguo Li & Kashif Khan, 2019. "A Study on the Relationship between Paradox Cognition, Green Industrial Production, and Corporate Performance," Sustainability, MDPI, vol. 11(23), pages 1-18, November.
    7. Shah, Kalim U. & Niles, Keron, 2016. "Energy policy in the Caribbean green economy context and the Institutional Analysis and Design (IAD) framework as a proposed tool for its development," Energy Policy, Elsevier, vol. 98(C), pages 768-777.
    8. Ionica Oncioiu & Anca-Gabriela Petrescu & Florentina-Raluca Bîlcan & Marius Petrescu & Melinda Timea Fülöp & Dan Ioan Topor, 2020. "The Influence of Corporate Governance Systems on a Company’s Market Value," Sustainability, MDPI, vol. 12(8), pages 1-15, April.
    9. Gozal Ahmadova & Blanca L. Delgado-Márquez & Javier Aguilera-Caracuel, 2023. "Reporting of environmental policies and internationalization of Asia–Pacific firms: the moderating role of innovation as a source of legitimacy," Asian Business & Management, Palgrave Macmillan, vol. 22(4), pages 1243-1273, September.
    10. Asif Saeed & Umara Noreen & Akbar Azam & Muhammad Sohail Tahir, 2021. "Does CSR Governance Improve Social Sustainability and Reduce the Carbon Footprint: International Evidence from the Energy Sector," Sustainability, MDPI, vol. 13(7), pages 1-16, March.
    11. Hua Tao & Min Tao & Rong Wang, 2022. "Do Education Human Capital and Environmental Regulation Drive the Growth Efficiency of the Green Economy in China?," Sustainability, MDPI, vol. 14(24), pages 1-20, December.
    12. Ali Alshehhi & Haitham Nobanee & Nilesh Khare, 2018. "The Impact of Sustainability Practices on Corporate Financial Performance: Literature Trends and Future Research Potential," Sustainability, MDPI, vol. 10(2), pages 1-25, February.
    13. Rizwan Ullah & Weiwei Wu, 2023. "How green-friendly practices and environmental disclosure affect the technological capability of the firm," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(2), pages 1276-1300, February.
    14. Anastasiia Moldavska & Torgeir Welo, 2018. "Testing and Verification of a New Corporate Sustainability Assessment Method for Manufacturing: A Multiple Case Research Study," Sustainability, MDPI, vol. 10(11), pages 1-40, November.
    15. Daniel Alonso‐Martínez & Valentina De Marchi & Eleonora Di Maria, 2020. "Which country characteristics support corporate social performance?," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(4), pages 670-684, July.
    16. Eduardo Duque‐Grisales & Javier Aguilera‐Caracuel & Jaime Guerrero‐Villegas & Encarnación García‐Sánchez, 2020. "Can proactive environmental strategy improve Multilatinas' level of internationalization? The moderating role of board independence," Business Strategy and the Environment, Wiley Blackwell, vol. 29(1), pages 291-305, January.
    17. Bahadur Ali Soomro & Ikhtiar Ali Ghumro & Naimatullah Shah, 2020. "Green entrepreneurship inclination among the younger generation: An avenue towards a green economy," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(4), pages 585-594, July.
    18. Samuel Wicki & Erik G. Hansen, 2019. "Green technology innovation: Anatomy of exploration processes from a learning perspective," Business Strategy and the Environment, Wiley Blackwell, vol. 28(6), pages 970-988, September.
    19. Syed Ghulam Meran Shah & Muddassar Sarfraz & Larisa Ivascu, 2021. "Assessing the interrelationship corporate environmental responsibility, innovative strategies, cognitive and hierarchical CEO: A stakeholder theory perspective," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(1), pages 457-473, January.

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