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Governance‐Aligned CSR, Corporate Sustainable Development Goals Adoption, and Long‐Lasting Performance: An Insight From Tourism and Hospitality Industry

Author

Listed:
  • Akrum Helfaya
  • Phuong Bui

Abstract

Despite the growing emphasis on corporate sustainability, the role of governance‐aligned corporate social responsibility (CSR) in driving Sustainable Development Goals (SDGs) adoption within the travel and hospitality industry (THI) remains underexplored. This study addresses this gap by examining how governance‐aligned CSR influences SDGs adoption and its impact on environmental, social, and governance (ESG) performance and CSR recognition. We investigated the practices of 99 publicly listed firms across 25 countries between 2015 and 2022 and found that governance‐aligned CSR promotes SDGs adoption, even amid the COVID‐19 crisis. We also found that sectoral differences emerge, with airlines demonstrating stronger SDGs engagement due to carbon intensity concerns. However, firms selectively adopted SDGs and prioritized SDG 8, SDG 12, and SDG 13 while neglecting SDG 14 and SDG 15. SDGs adoption enhances social and environmental performance but entails short‐term financial trade‐offs. Grounded in social exchange and resource dependency theories, our findings provide novel insights for firms, especially in developing economies, on integrating CSR with governance frameworks to enhance sustainability outcomes.

Suggested Citation

  • Akrum Helfaya & Phuong Bui, 2025. "Governance‐Aligned CSR, Corporate Sustainable Development Goals Adoption, and Long‐Lasting Performance: An Insight From Tourism and Hospitality Industry," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(6), pages 9466-9487, December.
    • Handle: RePEc:wly:sustdv:v:33:y:2025:i:6:p:9466-9487
    DOI: 10.1002/sd.70164
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