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Exploring the Link between Sustainable Practices and Corporate Performance Across Industries

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  • Osorio Iris Maria Velez

    (Faculty of Economics and Business Science, Pontificia Universidad Javeriana Cali, Colombia)

Abstract

Background The adoption of the Sustainable Development Goals (SDGs) has set a global standard for promoting sustainable practices. However, manufacturing companies need help in adopting these practices due to differences between industries, the need for research and development, and variations in corporate sizes. Objectives This analysis aims to study sustainability practices and their impact on corporate performance across different industries. It seeks to identify whether there is a relationship between sustainability practices and corporate performance in manufacturing companies and if the type of industry affects this relationship. Methods/Approach To achieve this goal, a multivariate analysis was conducted using hierarchical regression. Results The research indicates a direct connection between sustainability practices and corporate performance. It highlights the importance of creating distinctive sustainability practices that cater to the specific needs and characteristics of each industry. Conclusions Developing corporate strategies around sustainability is imperative. Additionally, public policies should be implemented to encourage the adoption of such practices, reinforcing the need for industry-specific approaches to enhance both sustainability and corporate performance.

Suggested Citation

  • Osorio Iris Maria Velez, 2024. "Exploring the Link between Sustainable Practices and Corporate Performance Across Industries," Business Systems Research, Sciendo, vol. 15(1), pages 158-177.
    • Handle: RePEc:bit:bsrysr:v:15:y:2024:i:1:p:158-177:n:1008
    DOI: 10.2478/bsrj-2024-0008
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    More about this item

    Keywords

    performance; sustainability; industry; manufacturing;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • L6 - Industrial Organization - - Industry Studies: Manufacturing

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