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The changing roles of the United Nations (UN) and national institutions have made addressing climate change a critical concern for many multinational enterprises’ (MNEs) survival and growth. This chapter discusses how such institutions, which vary in their nature and characteristics, shape firm strategies for climate change adaptation. Exploring different versions of institutional theory, the chapter demonstrates how and why institutional characteristics affect typical patterns of firm ownership, governance, and capabilities. These, in turn, influence companies’ internationalisation and climate-change strategies. Climate change poses challenges to how we understand firms’ strategic decisions from both an international business (IB) (HQ–subsidiary relations) and global value chains (GVC) (buyer–supplier relations) perspective. However, climate change also provides opportunities for companies to gain competitive advantages – if firms can reconfigure and adapt faster than their competitors. Existing IB and GVC research tends to downplay the importance of climate change strategies and the ways in which coherent or dysfunctional institutions affect firms’ reconfiguration and adaptation strategies in a globally dispersed network of value creation. This chapter presents a perspective on the institutional conditions that affect firms’ climate change strategies regarding ownership, location, and internalisation (OLI), and GVCs, with ‘investment’ and ‘emerging standards’ playing a significant role. The authors illustrate the discussion using several examples from the Global South (i.e. Bangladesh) and the Global North (i.e. Denmark, Sweden, and Germany) with a special emphasis on the garment industry. The aim is to encourage future research to examine how a ‘business systems’, or varieties of capitalism, institutional perspective can complement the analysis of sustainability and climate change strategies in IB and GVC studies.

The concept of circular economy (CE) has been receiving a lot of attention over the past years from academics, practitioners and policymakers. This is particularly the case for small- and medium-sized enterprises (SMEs) who find in CE a way to overcome their resource scarcity. However, little is known about how embracing the CE perspective can contribute to meet the sustainable development goals (SDGs). The present chapter aims at answering this question. Through a single case study, we explore the drivers, managerial practices and collaborations implemented by SMEs to generate economic, social and environmental values.

This chapter discusses the proposed integrated sustainable road infrastructure project implementation (ISRIPI) model and its constructs and sub-constructs, as well as public participation (PP), climate change response (CCR), and stakeholder management (SM). CEEQUAL was the most comprehensive rating system, with 11 criteria. Lim (2009) and Ugwu and Haupt (2007) were the most thorough studies examining sustainability models for infrastructure projects, focussing on social and cultural sustainability (SCS), economic sustainability (ES), environmental sustainability (EnS), institutional sustainability (IS), health and safety (HS), project management (PM), resource utilization and management (RUM), and engineering performance (EP). The Brundtland Report and Rio Summit defined social sustainability as the right to a decent standard of living, social justice between generations, within generations, and around the world. Thin (2002) showed social justice, unity, investment, and safety as aspects of society. Rosenström et al. (2006) defined social qualities as objects that make people happy. Cultural sustainability is access to cultural assets for current and future generations, and cultural legacy is the collection of physical signals passed on from the past to each civilization and, by extension, to all humans. EnS seeks to reduce the environmental impact of road infrastructure projects. Sustainable road infrastructure project implementation (SRIPI) must consider PM issues such as delivery system, risks, duration, performance assessment, sustainability clauses, and contract type. Quality control systems must be set up to ensure the optimum utilization and management of resources in SRIPI. EP criteria measure sustainable road infrastructure projects’ (SRIP) durability, quality, resilience, adaptability, functionality, carrying capacity, and robustness. This research developed an SRIPI model based on the models of CEEQUAL, Lim (2009), and Ugwu and Haupt (2007). The hypothesized framework consists of 37 SRIPI factors, including SCS, ES, IS, HS, PM, RUM, EP, CCR, PP, and SM. It projected the analytical authority of these constructs in the success of SRIPs to test whether the realization of SRIPI outcomes depends on the supposed indicators of the variables. SRIPI is a multidimensional structure composed of 11 latent variables, derived from literature review and Delphi study findings.

Aviation is not only one of the key contributors to the economy and social structure of the world but it is also an industry whose environmental impacts are being closely monitored. Aircraft efficiency and technological advancements have significantly reduced aviation noise and emissions in recent decades. Nevertheless, as the need for passenger and freight transportation grows, the aviation sector is becoming a primary source of environmental issues and a significant driver of global warming. This chapter focusses on environmentally sustainable aviation with a net-zero emission target. It also highlights sustainable aviation policies and collaborative initiatives in the aviation industry to meet the 2050 net-zero emission goal. While the industry's efforts have increased opportunities recently, the industry has also had to face several challenges to achieve the net-zero aviation target.

This chapter discusses the global challenge to reduce greenhouse gas (GHGs) emissions to net zero by 2050. It explains what net zero means and how it is calculated, together with some of the debate around the suitability of the target to maintain global warming levels within ‘acceptable’ boundaries. The chapter then presents some of the opportunities and challenges that transitioning towards net zero will pose to countries and their inhabitants, in terms of changes to policies, products, processes and behaviours that will be required to attain the target. It then discusses the need for a strategy to achieve net zero across different sectors of society and provides a few suggestions of tools and concepts that could be adopted to support the changes necessary, such as planning for change, the Sustainable Development Goals (SDGs), integrated reporting and the circular economy. The chapter concludes with a reflection on the need for the net zero target and how it is our collective responsibility to support the challenging transition to net zero for the benefit of all.

Now more than ever, climate action requires both private and public investment in building a sustainable future for all. COP26 affirmed the importance of collective action at all scales coupled with supporting public policy to limit global warming to a 1.5-degree trajectory. This chapter outlines the process and building blocks that culminated in the launch of the Drawdown Georgia Business Compact, whose mission is to leverage the collective impact of Georgia’s business community to achieve net zero carbon emissions in the state by 2050. In bringing together companies across diverse industries, the Business Compact creates a community of practice where cross-sector collaboration accelerates Georgia’s path to actualizing COP26’s decarbonization vision while also considering ‘beyond carbon’ issues such as the economy, equity, public health, and the environment. This is a regional and voluntary approach to Sustainable Development Goal (SDG) 17 (Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development), which recognizes multi-stakeholder partnerships as important vehicles to achieve SDGs.

Environmental degradation is a global concern that results from massive economic activities. Carbon dioxide (CO₂) emissions are one of the environmental degradation indicators. This study investigates the impact of population, oil consumption, international tourist arrival, and corruption on CO₂ emissions in ASEAN’s five developing countries of Malaysia, Indonesia, Thailand, Philippines, and Vietnam from 1998 to 2017. This study employed panel Fixed-effect (FE) regression to estimate the panel data generated by British Petroleum and World Bank. The result revealed that the population has a significant positive effect on CO₂ emissions. Furthermore, oil consumption has a significant positive effect on CO₂ emissions. Meanwhile, the effect of tourism and the corruption perception index (CPI) as a proxy of corruption on CO₂ emissions was positive but not significant. Authorities should construct such policies to reduce CO₂ emissions by applying low-carbon technologies, green mass transport, and creating less corrupt behavior.

Climate change is a bitter truth for the entire humanity, and it vehemently calls for thoughtful means for environmental protection along with sustainable economic growth. International trade blocs fundamentally represent amalgamation of countries to achieve unified goals like higher living standards, reduced trade barriers, freer labour mobility across member states, social and cultural upliftment, political allegiance to regional association, etc. Throughout the 1990s, these trade blocs have committed to reducing environmental pressures and shifting towards cleaner forms of energy. This chapter examines the relationship between rate of change in carbon dioxide (CO₂) emissions per capita and rate of change in per capita gross domestic product (GDP) in linear, quadratic and cubic polynomial forms with the other control variables like inflow of foreign direct investment (FDI), export of goods and services, population density, urban population percentage and location dummies for the 66 countries falling in seven regional trade blocs. Other than the European Union and North American Free Trade Agreement (NAFTA), the remaining five trade blocs in the study – Association of South-East Nations (ASEAN), South Asian Association for Regional Cooperation (SAARC), Common Market for Eastern and South Africa (COMESA), Mercado Común del Sur (MERCOSUR) and Commonwealth of Independent States (CIS) – contain mostly the developing and some of the fastest growing economies of the world. The panel regression result finds an inverse relationship between rate of change in per capita CO₂ emissions and rate of change in GDP per capita (in linear and cubic polynomial forms), exports and population density, while the other coefficients of the explanatory variables are positive. The study also establishes an Environmental Kuznets Curve (EKC) which is opposite to N-shape during 2005–2019, and that contradicts with the original EKC of inverted U-shaped. However, this shape admits the collective efforts of region-specific trade blocs towards achieving clean environment which is one of the important global goals.