Examining the Link Between Corporate Sustainability and Financial Performance: An Empirical Study with Implications for Post-Conflict Ukraine

This chapter aims to advance the scientific and practical understanding of corporate sustainability assessment in parallel with financial performance for global food and beverage companies (FBCs) with potential implications for addressing urgent environmental, social, and economic challenges in post-war Ukraine. The research explores the extent of active global FBCs’ engagement in sustainable development, evaluates the impact of their sustainable initiatives on financial performance, and investigates whether these companies gain any competitive advantages compared to industry trends. To achieve these objectives, this study analyzes the implementation of the United Nations Sustainable Development Goals (SDGs) by internationally renowned FBCs and compares the financial performance of FBCs that have incorporated SDG strategies with the industry’s average performance. The study encompasses 27 food manufacturing companies recognized as sustainability leaders according to “The Sustainability Yearbook” for the period 2018–2020. Hypotheses are tested regarding the correlation between companies’ performance and the level of corporate sustainability. Corporate sustainability functions as the factor variable, represented by its level, while financial indicators of companies’ activities, such as the rate of change in sales, net profit margin, and return on equity, serve as the dependent variables. Based on empirical findings, the research reveals that FBCs embracing the concept of corporate sustainability are actively implementing SDGs, presenting a potential business contribution toward Ukraine’s modernization and development. Furthermore, the research emphasizes that incorporating sustainability-focused practices may not always result in immediate financial gains for FBC shareholders, underscoring the importance of external incentives to drive positive outcomes. In summary, nurturing corporate sustainability and promoting responsible investments can enable post-war Ukraine to become an appealing hub for businesses, all while pursuing overarching sustainability objectives. Collaborative efforts toward building a sustainable and prosperous future will play a pivotal role in achieving long-term economic development and resilience in the country.