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Corporate Social Responsibility (CSR) reporting has been widely accepted as a vital tool for communicating with stakeholders on a range of social, environmental, and governance issues, but how companies define, interpret, apply, integrate, and communicate their CSR efforts and impacts in corporate reporting is anything but a straightforward task. The purpose of this chapter is to explore the concept of materiality in CSR reporting and demonstrate practical examples of good CSR and Sustainable Development Goals (SDGs) reporting practices. We chose the aviation industry because of its economic relevance, constant growth, and future expected changes in the aftermath of COVID-19. In addition, airlines affect many of the SDGs directly and indirectly with contending results. This chapter is timely because of the growing willingness by companies to integrate CSR and environmental, social, and governance (ESG) thinking into the corporate strategy and business operations using materiality assessment and enhancing their competitive advantage and ability to maintain long-term value and because ESG and ethical investing have become part of the mainstream investing. Thus, this chapter contributes to an understanding of the wide range of existing and new reporting frameworks and regulations and reinforces the importance of discussing how this diversity of approaches can affect the work toward worldwide comparability of CSR and sustainability reporting.

Many corporations engage in corporate social responsibility (CSR) activities voluntarily, but there is an ongoing debate about whether the government should intervene in CSR, particularly in countries with challenging institutional contexts. While some have argued that CSR should remain a discretionary exercise, as any attempt to make CSR mandatory through any form of state intervention will negate the meaning and objectives of CSR. However, drawing on the institutional theory, this chapter argues for the need to have some form of legislated CSR for banks operating in countries with challenging institutional contexts. The chapter further acknowledges that a universal CSR framework would be difficult to achieve due to differences in institutional contexts between countries; consequently, the nature, scope, and application of CSR legislation would vary significantly amongst countries as CSR is context dependent. Nonetheless, given the crucial role banks plays in society besides acting as the country's payment system, banks also transform illiquid liabilities into liquid assets, therefore making the banks the drivers of national economic developments globally. Governments in developing and emerging markets (DEMs) should ensure that banks' CSR initiatives are not only meaningful but also impactful by implementing a limited legislated CSR framework. This framework would require banks to establish a CSR committee of the board, make mandatory non-financial disclosures on their CSR activities in their Annual Reports, provide mandatory CSR continuous professional development (CPD) training for bankers, and mandate banks to contribute a certain percentage of their yearly profits before tax to agreed CSR initiatives, among other requirements.

This chapter is devoted to sustainable human resource management that leads to sustainable competitiveness. It features the ways human resources can be managed to carry out sustainable goals and the impact of sustainability on employees' attitudes and behaviours. The aim of this study is to explore the complex objectives of sustainability and human resource management and empirically investigate the dynamic relationship between human resources in science and technology and sustainable competitiveness in the case of 35 European countries. Our contribution emphasizes this interrelationship and its causality. For this research, we applied a vector auto-regression (VAR) model, and the Granger causality method to examine the relationship between human resources in science and technology and sustainable competitiveness. A panel data included 314 observations between 2012 and 2021. The panel VAR for analysing the impulse response function was enriched with the 5% and 95%, using Monte Carlo simulations. The research results revealed bidirectional causality in the European countries between human resources in science and technology and sustainable competitiveness. Human resources in science and technology trigger sustainable competitiveness and vice versa. As an element of originality, our study demonstrates that human resources in science and technology contribute to sustainable performance, and, on the other hand, a more competitive and sustainable environment contributes to the development of human resources in science and technology. Thus, the chapter outlines the role of human resources in science and technology with regard to sustainable human resource management (HRM), and how to navigate these objectives so that they can positively influence sustainable competitiveness.

In this chapter, the author underscores the crucial role of the international community in promoting and facilitating responsible management education in business and management schools, as well as higher educational institutions. The chapter highlights the initiative on the Principles of Responsible Management Education (PRME), which has been supported by the United Nations and adopted by hundreds of schools and universities worldwide. The author explains that PRME aims to equip students with the necessary knowledge, skills, mindset and capabilities to bring about rapid and scalable improvements to society. Given that today's students are tomorrow's business leaders, policymakers and organizational heads, investing in responsible management education is crucial. This chapter emphasizes that responsible educational efforts can produce better citizens and future leaders, enabling them to create the world that we aspire to live in. This chapter underscores the importance of global collaboration and commitment to promoting responsible management education. When working together to prioritize ethical and sustainable practices in business and management education, we can foster a new generation of leaders who are equipped to drive positive change in the world.

Drawing on both the stakeholder theory and Carroll’s Corporate Social Responsibility Pyramid, this chapter explores sustainability practice challenges of a gold minning multinational enterprise in Ghana. Primary data was collected through observation and the interviewing of multi-stakeholder groups. We found that internal stakeholders perceive sustainability expenditure as costly. However, while employees of the case enterprise see the cost as depleting shareholders’ wealth, managers view them as investment with possible long-term benefits. Meanwhile, the external stakeholders perceive the gold mining enterprise’s sustainability expenditure as meagre and that beneficiary communities are not economically empowered to sustain those investments. Again, we found that government’s inability to clamp down illegal gold mining threatens economic and environmental sustainability. Additionally, members of the host community identify the lack of adequate employment opportunities within the entity as a hindrance to their economic empowerment. We submit that the resolution of the sustainability challenges would contribute to the balancing of stakeholders’ expectations: the conduct of ethical business through compliance to environmental laws; promotion of host communities’ social well-being; and improved economic returns for shareholders. By meeting the needs of stakeholders, gold mining enterprises could gain acceptance in their host communities and boost corporate reputation.

Sustainable management requires companies to build up new knowledge to acquire the competencies needed for action. This chapter aims to deliver knowledge about sustainability and knowledge for sustainability. Firstly, we systematically analyse the sustainability literature in the social sciences through a bibliographic analysis and topic modelling using VOSviewer and Mallet software. We outline research directions, themes and critical contributions for each research cluster identified. Additionally, we categorise over 30 definitions of sustainability identified by Meuer, Koelbel, and Hoffmann (2020). Secondly, we enumerate knowledge types needed for effective sustainability transitions of organisations. We trace typologies of sustainable business models and their distinct evaluations of sustainability. In this chapter, we argue that integrating the triad of social, ecological and economic goals is central for sustainability attempts as well as long-term thinking. Therefore, our research offers a comprehensive overview of sustainability in the social sciences supporting researchers and practitioners to navigate this miscellaneous and scattered field. Accordingly, our study is precious to young scholars researching sustainability who want to use the term in an informed and meaningful way.

This chapter explores the gap between social expectations and actual sustainability performance in the business world and identifies the root causes of this discrepancy. The author reviews corporate social responsibility (CSR) and sustainability, and their relationship with the Sustainable Development Goals (SDGs). This chapter also compares the connections and differences between the Millennium Development Goals (MDGs) and the SDGs. The author analyzes possible solutions to bridge the gap, including renewing the social contract between businesses, society and institutions. This involves rethinking the role of businesses and institutions in promoting sustainability and creating new systems and structures that incentivize sustainable practices. This chapter concludes by discussing the pathway to a sustainable and inclusive world through systems innovation and change. When embracing a systems thinking approach, individuals and organizations can identify and address the root causes of unsustainability, and create more resilient and sustainable systems that benefit both people and the planet.

The incorporation of Corporate Social Responsibility (CSR) and sustainability is essential for higher education institutions' (HEIs') future development as they deal with more societal and environmental concerns. The current status of research on CSR and sustainability in HEIs is examined in this systematic review, which also identifies major themes and trends for future development. This review emphasizes the complex characteristics of CSR and sustainability in the higher education environment, spanning aspects like university's social responsibility (education, community engagement, research, and internal management and organization), Sustainable Development Goal (environment, social, and economic), student's perceived self-efficacy, students' intention to implement sustainability, students' engagement for sustainability. It does this by assessing a wide range of scientific works. Additionally, it reveals the advantages and disadvantages of applying CSR and sustainability strategies in HEIs. The results highlight the significance of all-encompassing initiatives that cover governance, accountability, and openness in order to promote a sustainability culture inside HEIs. The paper ends with suggestions for further study, highlighting the necessity of interdisciplinary methods and successful collaborations to promote CSR and sustainability initiatives in HEIs and consequently contribute to sustainable development generally.

This study aims at investigating the effect of corporate social responsibility (CSR) and corporate social irresponsibility (CSI) on corporate financial performance (CFP) in firms headquartered in developed versus emerging countries. Drawing upon stakeholder and legitimacy perspectives, the authors argue that the CSR/CSI–CFP relationship differs depending on the home-countries’ level of economic development as this reflects their different sensitivity to sustainability. Indeed, as emerging economies are normally characterized by weaker regulations, they are likely to place lower pressures on companies for superior CSR practices. Therefore, the authors expect the effect of CSR on CFP to be more positive for firms headquartered in advanced than in emerging countries. At the same time, the authors propose a more negative relationship between CSI and CFP for firms headquartered in developed countries due to the higher overall sustainability expectations required to gain legitimacy. The empirical analyses, run on a sample of 1,971 publicly listed firms between 2010 and 2020 from developed and emerging economies, support the expectations, thus confirming that country-specific contextual factors do play a role in shaping both the positive and the negative impact of CSR and CSI on CFP, and that the reactions of stakeholders to responsible and irresponsible behavior are stronger when their sensitivity to sustainability is higher.

Purpose: This research discusses the importance of corporate social responsibility (CSR) and its link to a financial performance metric called net interest margin (NIM) in the context of non-banking financial companies (NBFCs). CSR initiatives can lead to long-term sustainability and improved financial performance, attracting investors seeking to align their investments with their values.

Need for the Study: The research composes portfolios based on financial companies’ CSR performance and NIM ratios to help investors understand the difference between CSR and financial performance, making investment decisions based on their portfolio goals and values. Striking a balance between sustainability and the financial performance of financial companies, will help investors find a suitable balance between portfolios for investment purposes.

Methodology: The authors used data from 55 financial companies for daily returns from 2014–2015 to 2021–2022 and used descriptive statistics to measure the performance of portfolios.

Findings: The findings suggest that financial companies in India have improved their CSR scores over time, indicating an increased focus on integrating socially responsible practices into their operations. The data also show that NBFCs are catching up with banks regarding CSR scores, and some NBFC portfolios even outperform banks regarding returns. However, the study also highlights the need for some companies to focus more on CSR and business operations.

Practical Implications: The results serve as a benchmark for financial companies to assess their relative CSR performance, highlighting the need for companies to focus on integrating socially responsible practices into their operations and guiding areas where companies can improve.