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The search for luxurious hospitality experiences increasingly coincides with the imperative to mitigate negative impacts in the pursuit of greater sustainability. This is a task often understood as being complex particularly in the context of luxury hospitality which often resonates with conspicuous consumption. This chapter uses a case study approach to analyze the complex relationship between luxury tourism and sustainability. The study focuses on the development of “luxury” from a materialistic perspective toward an experience economy and relates this to the concept of sustainability and agreements relevant to the tourism industry. The environmental impact of luxury hospitality is then discussed. The case study on properties in Costa Rica, South Africa, the Maldives, Vietnam, and French Polynesia focuses on philosophy, facilities, energy and waste consumption, food and beverage, conservational and educational activities, and alignment to the United Nations Sustainable Development Goals (UN SDGs). The focus is on the properties and shows limitations in that it is not applicable to the whole tourist journey and experience. All properties understand luxury as based on experiences and involvement in nature. Measures to mitigate environmental impact and foster conservational and educational activities are mainstream practices. Comparing the cases with academic literature on luxury, sustainability, ecotourism, and environmental policies underline that sustainability-driven luxury hospitality shows valuable steps toward a more sustainable product but is ultimately faced with the dilemma of taking into consideration and ultimately mitigating the impacts of the entire travel value chain.

This chapter analyzes how the macro-environment determines corporate dividend decisions. First, political factors including political uncertainty, economic policy uncertainty, political corruption, and democracy may have two opposite effects on dividend decisions. For example, firms learn democratic practices to improve their corporate governance, but dividend policy may be the outcome of strong corporate governance or the substitute for poor corporate governance. Second, firms in countries of high national income, low inflation, and highly developed stock markets tend to pay more dividends. A monetary restriction (expansion) reduces (increases) dividend payments, as economic shocks like financial crises and the COVID-19 may negatively affect corporate dividend policy through higher external financial constraint, economic uncertainty, and agency costs. On the other hand, they may positively influence corporate dividend policy through agency costs of debt, shareholders' bird-in-hand motive, substitution of weak corporate governance, and signaling motive. Third, social factors including national culture, religion, and language affect dividend decisions since they govern both managers' and shareholders' views and behaviors. Fourth, firms tend to reduce their dividends when they face stronger pressure to reduce pollution, produce environment-friendly products, or follow a green policy. Finally, firms have high levels of dividends when shareholders are strongly protected by laws. However, firms tend to pay more dividends in countries of weak creditor rights since dividend payments are a substitute for poor legal protection of creditors. Furthermore, corporate dividend policy changes when tax laws change the comparative tax rates on dividends and capital gains.

The increasing accumulation of synthetic plastic waste in oceans and landfills, along with the depletion of non-renewable fossil-based resources, has sparked environmental concerns and prompted the search for environmentally friendly alternatives. Biodegradable plastics derived from lignocellulosic materials are emerging as substitutes for synthetic plastics, offering significant potential to reduce landfill stress and minimise environmental impacts. This study highlights a sustainable and cost-effective solution by utilising agricultural residues and invasive plant materials as carbon substrates for the production of biopolymers, particularly polyhydroxybutyrate (PHB), through microbiological processes. Locally sourced residual materials were preferred to reduce transportation costs and ensure accessibility. The selection of suitable residue streams was based on various criteria, including strength properties, cellulose content, low ash and lignin content, affordability, non-toxicity, biocompatibility, shelf-life, mechanical and physical properties, short maturation period, antibacterial properties and compatibility with global food security. Life cycle assessments confirm that PHB dramatically lowers CO₂ emissions compared to traditional plastics, while the growing use of lignocellulosic biomass in biopolymeric applications offers renewable and readily available resources. Governments worldwide are increasingly inclined to develop comprehensive bioeconomy policies and specialised bioplastics initiatives, driven by customer acceptability and the rising demand for environmentally friendly solutions. The implications of climate change, price volatility in fossil materials, and the imperative to reduce dependence on fossil resources further contribute to the desirability of biopolymers. The study involves fermentation, turbidity measurements, extraction and purification of PHB, and the manufacturing and testing of composite biopolymers using various physical, mechanical and chemical tests.

Multinational enterprises (MNEs) own and control technological resources and capabilities that make them critical actors in accelerating the transition toward net zero. Even beyond the energy sector, stakeholders are putting increasing pressure on MNEs to reduce the carbon intensity of their operations, that is, to improve their carbon performance. While there is unambiguous evidence that national climate policy is a critical catalyst for long-term carbon performance improvements, there is limited research on how MNEs’ carbon strategies react to climate policies. This chapter reviews the concepts, drivers, and strategies connected to carbon performance in the broader sustainability and management literature to clarify potential complementarities to international business (IB). The authors then highlight how MNEs will face increasing institutional complexity along two dimensions: (1) the structural diversity of institutional environments and (2) institutional dynamism, primarily reflected by public policy. The proposed conceptual framework maps these two dimensions to national and subnational levels, and the authors present two data sources that allow the quantitative analysis of country differences in the diversity and dynamism of national climate policy. The authors conclude that there are ample opportunities for IB researchers to explore MNEs’ strategic reactions to climate policy and to inform policymakers about the consequences of national climate policy in the global economy.

Changes and transformations experienced today have created alternative lifestyles in cities. Many life concepts try to find solutions to environmental problems, so much so that this section focuses on smart eco-city concept, which is one of the trending city initiatives of the last century and is expected to become more popular each day. In the chapter, firstly, information about the concepts of eco-city and smart city is given and then what is meant by the concept of smart eco-city is discussed. Next, smart eco-cities have been tried to be explained with application examples. Finally, the chapter emphasizes the importance of ecological cities blended with technology for the sustainability of living spaces and offers implications for future research.

This study investigates how firms’ awareness of sustainability affects the revision of their internationalization strategy. Adopting a resource-based view (RBV) approach, the authors argue that sustainable-oriented firms have a higher propensity to de-internationalize (i.e., to go back to their home country) when confronted with the need to relocate foreign manufacturing subsidiaries, as the shortening of value chains would allow the reduction of transportation emissions and enhanced corporate image as green-oriented entities. Furthermore, the authors explore the role exerted by a stringent regulatory setting in the home country on the likelihood of de-internationalization. The empirical test conducted on a sample of relocations performed across European nations in 2002–2014 reveals that multinational enterprises (MNEs) – regardless of their sustainability orientation – have a higher probability to de-internationalize when their home countries have strict institutional contexts in place.

Climate change places significant pressure on the tourism sector by altering environmental and socio-economic conditions that influence tourist behaviour and the attractiveness of destinations. Rising temperatures, changing precipitation patterns and the increasing frequency and severity of extreme weather events affect tourism supply and demand. On the supply side, climate change threatens tourism infrastructure, natural attractions, recreational opportunities and accessibility of destinations. Coastal destinations are particularly vulnerable to sea-level rise and coastal flooding, which can damage tourism assets. On the demand side, changing climatic conditions alter visitor comfort levels, health risks and the seasonality of destinations, influencing tourists' choice of destinations. In addition, small island destinations face unnecessary risks due to their economic dependence on climate-sensitive activities such as beach and nature tourism. Adapting the tourism sector to climate change requires reducing vulnerability through diversification, green infrastructure, ecosystem conservation, community-based adaptation and policy support. Mitigating tourism's contribution to climate change requires minimising energy use, switching to renewable energy, improving efficiency, reducing long-haul flights and promoting sustainable consumption and production. Collective and concerted efforts by all stakeholders are needed to transition to a climate-resilient and low-carbon tourism sector that continues to provide socio-economic benefits while minimising its environmental footprint.

The current study aims to analyze the role of International Federation of Accountants (IFAC) in sustainability issues and its impact on the attitude of practitioners (auditors) in industrial companies. The current study relies on the analytical method, one of the tools of the inductive approach, by examining the literature of researchers, international and local organizations, publications, series, alerts, and topics dealt with by the IFAC, as well as reviewing studies, theoretical and applied research, periodicals, books, and statistics. And specialized publications for this subject, which is related to other sciences – such as – environmental science, economic, and political sciences. The study reached many results, the most important of which are: (1) The first half of the current decade has seen high interest from the IFAC, has led to the issuance of International Auditing and Assurance Standards Board (IAASB) international standard on assurance engagements 3410, (GHG) Statements. (2) Sustainability has become important to a growing number of enterprises, and may have a significant influence, in certain cases, the financial statements, also became the sustainability of the topics under increasing attention from users of financial statements. Thus, the financial statements will need a practitioner to take into consideration sustainability issues and a private greenhouse gas when auditing the financial statements. This study is distinguished by analyzing the role of the IFAC and the IAASB for the period from 1998 to 2023 regarding sustainability issues.