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The Sustainable Development Goals as new business norms: A survey experiment on stakeholder preferences

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  • Yamane, Tomomi
  • Kaneko, Shinji

Abstract

The Sustainable Development Goals (SDGs) were set by the United Nations General Assembly in 2015 to work towards a sustainable society in which economic prosperity is achieved and social and environmental concerns are met. Under the SDGs, businesses are expected to assume increasingly active roles. However, little is known about the relationship between the preferences of stakeholders and businesses' contributions to the SDGs. This study, therefore, investigates whether the SDGs can function as business norms by examining stakeholder support for sustainable practices. Specifically, the study examines preferences for companies that contribute to the SDGs and the effects of raising awareness regarding the inherent nature of the SDGs on stakeholders' preferences. To this end, we used a nationwide online survey dataset conducted in Japan (n = 6043) and employed a combination of conjoint analysis and an information treatment experiment. The results showed that implementing the SDGs increased stakeholders' preferences for companies. However, a gap existed between the stakeholders' preferred SDGs and the companies' priorities concerning the SDG implementation. The findings suggest that increasing stakeholders' awareness is effective in closing the gap.

Suggested Citation

  • Yamane, Tomomi & Kaneko, Shinji, 2022. "The Sustainable Development Goals as new business norms: A survey experiment on stakeholder preferences," Ecological Economics, Elsevier, vol. 191(C).
    • Handle: RePEc:eee:ecolec:v:191:y:2022:i:c:s0921800921002950
    DOI: 10.1016/j.ecolecon.2021.107236
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    2. Erola Palau-Pinyana & Josep Llach & Llorenç Bagur-Femenías, 2024. "Mapping enablers for SDG implementation in the private sector: a systematic literature review and research agenda," Management Review Quarterly, Springer, vol. 74(3), pages 1559-1588, September.
    3. Saskia Manshoven & Wim Van Opstal, 2022. "The Carrot or the Stick? Stakeholder Support for Mandatory Regulations towards a Circular Fashion System," Sustainability, MDPI, vol. 14(22), pages 1-31, November.
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    5. Jacek Michalak & Bartosz Michałowski, 2022. "Understanding Sustainability of Construction Products: Answers from Investors, Contractors, and Sellers of Building Materials," Sustainability, MDPI, vol. 14(5), pages 1-14, March.
    6. Clement, Jessica & Ruysschaert, Benoit & Crutzen, Nathalie, 2023. "Smart city strategies – A driver for the localization of the sustainable development goals?," Ecological Economics, Elsevier, vol. 213(C).

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