The role of values in shaping sustainable development perspectives and outcomes: A case study of Iceland

Sustainability is conceptualized as a process of balancing growth, equity, and preservation, a definition that is drawn from the 1987 Brundtland Commission report, Our Common Future. While making sustainability a universal objective, this definition conceptualizes sustainability as a one‐size fits all technocratic solution, which removes the concept from the context of specific societies that must engage with sustainable development. Social scientific data about the nature of values, where they come from, with whom they resonate, and what goals for conservation and development they establish are equally necessary for the understanding and framing of sustainability. Policies are more effective if they are embedded in the value systems they engage. Drawing on a case study of Iceland this study examines the nature of values in shaping sustainable outcomes. We argue that regulative, normative, cultural, and cognitive institutional structures are in constant interaction with value systems and sustainability conceptions. We find that institutional structures and pro‐sustainability values are mutually reinforcing: institutional structures and place amplify value orientation. In turn, values influence the orientation of status‐quo institutional structures. Working with interview data and using a grounded theory approach, we build a model for understanding how sustainability is conceptualized in Iceland working from values through agents and industrial bases to generate strategies of development. Icelanders operationalize concepts of sustainability through innovations that improve the efficiency and preservation of natural resources. Our findings add additional layers to conventional pathways of valuation and demonstrate the importance of place and context in situating values of development.