Frågor kopplade till ekologisk hållbarhet i företagssammanhang (både i forskning och inom företagsvärlden) har historiskt inte haft speciellt mycket gemensamt med forskning om ekosystem och miljöprocesser. Styrning av affärsverksamhet för att uppnå ekologisk hållbarhet är typiskt fokuserad på linjära företags eller industri-specifika miljöproblem. Forskningen om ekosystem och miljöprocesser har antagit ett holistiskt perspektiv på miljöproblemen vilket erkänner icke-linjära karaktärsdrag i ekosystemens svar på mänsklighetens avtryck i form av miljöförstörande aktiviteter. Denna studie försöker bringa dessa två skilda tillvägagångsätt tillsammans genom att applicera ett holistiskt perspektiv på ekologisk hållbarhet i företagssammanhang. Detta testas genom att undersöka om hur den konceptuella modellen ’planetära gränser’ kan användas i företag för att stödja företagens arbete med ekologisk hållbarhet. Genom tre analytiska och åtta relaterade empiriska frågeställningar söker denna studie svaret på frågan ifall ramverket ’planetära gränser’ är ett lämpligt verktyg för att förbättra företags prestationer inom ekologisk hållbarhet. En fallstudie på företaget ’Sandvik Materials Technology’ som inkluderar intervjuer med nyckelpersoner och en analys av deras verksamhet och processer utifrån perspektivet ’planetära gränser’, samt en strukturerad litteraturstudie har genomförts för att svara på verktygets lämplighet för applicering i företagsverksamhet. Från litteraturstudien konstateras att föreslagna metoder för implementering på andra nivåer än den globala typiskt inkluderar en kombination av ramverket ’planetära gränser’ med ett annat verktyg. Totalt fann litteraturstudien nio föreslagna kombinationer varav tre var testade i fallstudieformat på regional och nationell nivå. Sex kombinationer inkluderar metoder för att skala ner planetära gränser till andra nivåer än den globala. Implementering av ramverket i företagssammanhang kan enligt den studerade litteraturen assistera företag i deras prestationer inom ekologisk hållbarhet genom att användas för prioritering bland miljöproblem. Vidare har ramverket beskrivits som ett starkt utvärderingsverktyg för externa intressenter.  Intervjuerna visade en skepticism mot verktygets möjligheter att förbättra Sandvik Materials Technologys prestationer på (ekologisk) hållbarhetsområdet. Intervjupersonerna tyckte förvisso att det var viktigt att luta sig mot vetenskapen för att ta fram miljömål, men inte bara. Miljömål på företag måste också ta hänsyn till kostnadseffektivitet och/eller affärsmöjligheter. Sandvik Materials Technology´s verksamhet och processer lämpar sig dock väl för en analys utifrån perspektivet ’planetära gränser’ då kopplingar kunde fastställas för alla gränser. Jämfört med företagets nuvarande miljö och klimatstrategi visade analysen utifrån ’planetära gränser’ på några fler möjliga fokusområden (t.ex. biologisk mångfald och påverkan på biokemiska flöden) medans andra förblev desamma (klimatförändringar och vattenanvändning). Det nuvarande huvudfokusområdet, resursanvändning inkluderas dock inte på ngt annat sätt än möjligtvis indirekt. En fullskalig kvantitativ implementering av ramverket ’planetära gränser’ kräver på grund av avsaknaden av robusta metoder starkt engagemang där det ska genomföras. Detta engagemang bedöms saknas på Sandvik Materials Technology, därför konstateras att verktyget ensamt idag inte är moget för implementering på detta företag. / The question investigated in this study is whether the framework ‘planetary boundaries’ can be a suitable tool for improving sustainability performance at companies or not. It does so by investigating three analytical and eight related empirical questions. The methods in this study include; a structural literature review, qualitative interviews with key players at the focal company Sandvik Materials Technology and a qualitative analysis of the steel industry and Sandvik Materials Technology’s relationship to planetary boundaries. From the literature study, it was concluded that as for now, methods for applying the planetary boundary framework lack in maturity. It does not follow from this that there is no scientific relevance in developing methods for application, but more research is needed to confirm a methodological framework for application which is suitable for companies. The interviews revealed a skeptical attitude towards the framework´s ability to improve Sandvik Materials Technology´s sustainability performance. To derive environmental targets from science was viewed as a necessity, however environmental targets in companies must take other aspects (e.g. cost-effectiveness and business opportunity) into account as well.   The qualitative Planetary Boundaries analysis showed that the activities and processes at Sandvik Materials Technology is well suited for an environmental assessment based on a planetary boundaries perspective. Some focus areas remained the same as in their current environmental strategy (e.g. climate change and fresh water abstraction) but others (biosphere integrity and biochemical flows) appeared as new possible focus areas. Sandvik Materials Technology´s main focus, resource use, were however excluded from an environmental assessment based on a planetary boundaries perspective. Due to the lack of mature methods, an implementation of the framework at a company requires a strong commitment at the company. The researcher concludes that such level of commitment is lacking at Sandvik Materials Technology. Therefore, this study reaches the conclusion that the planetary boundary framework is, at least for now, not alone a suitable tool for improving sustainability performance at the focal company Sandvik Materials Technology.

This dissertation examines two main research questions: Why do firms deviate from their predicted level of toxic emissions, and how do these differences relate to financial performance? The objective is threefold: (1) to understand deviation in corporate environmental performance by looking at both industry and firm level variables, (2) to see how this deviation relates to both profitability and fluctuations in financial performance, and (3) to see if, and how, corporate environmental legitimacy affects the relationship between corporate environmental deviation and corporate financial performance. To achieve this objective the construct “corporate environmental performance deviation” is developed. It is defined as the extent to which a firm’s environmental performance deviates from its predicted performance, and is used to capture within-firm strategic choices in environmental management. Predicted environmental performance is calculated based on certain firm characteristics such as size and industry. Actual environmental performance is calculated using a weighted score of air emissions obtained from the Toxic Release Inventory (TRI) database. The difference between these two values represents a corporation’s environmental performance deviation. Corporate environmental performance deviation focuses on strategic choices related to environmental management, while recognizing that environmental management is the result of both institutional pressures and within-firm strategic decisions. Aligned with this focus, variables 2 related to this strategic choice are used to explain deviation in environmental management, including an environmental integration capability, firm strategy, and industry munificence and dynamism. Associated with the internal and external organizational analysis, institutional theory and the resource-based view (RBV) are used to explore the tension between deviation to increase competitiveness versus isomorphism to attain legitimacy. The sample is composed of 311 U.S. firms who have reported their toxic air releases to the TRI from 1998-2007. The sample is broken down into two subsets, those that exceed (positive deviation) or fail to meet (negative deviation) predicted environmental performance. Results of a longitudinal analysis show that positive environmental deviation is related to a greater capacity to strategically integrate environmental issues into a firm’s existing business approach, less munificence and dynamism in the task environment, and reduced financial fluctuations. Negative environmental deviation is decreased through a demonstrated capacity to strategically integrate environmental issues into a firm’s existing strategic approach, and related to greater munificence and dynamism in the task environment, reduced profitability and increased financial fluctuations. Lastly, although there are no significant main effects for corporate environmental legitimacy, the paradoxical combination of negative deviation and environmental legitimacy can reduce the severity of the negative financial results to negative deviation, both in terms of profitability and financial fluctuations.

This dissertation examines two main research questions: Why do firms deviate from their predicted level of toxic emissions, and how do these differences relate to financial performance? The objective is threefold: (1) to understand deviation in corporate environmental performance by looking at both industry and firm level variables, (2) to see how this deviation relates to both profitability and fluctuations in financial performance, and (3) to see if, and how, corporate environmental legitimacy affects the relationship between corporate environmental deviation and corporate financial performance. To achieve this objective the construct “corporate environmental performance deviation” is developed. It is defined as the extent to which a firm’s environmental performance deviates from its predicted performance, and is used to capture within-firm strategic choices in environmental management. Predicted environmental performance is calculated based on certain firm characteristics such as size and industry. Actual environmental performance is calculated using a weighted score of air emissions obtained from the Toxic Release Inventory (TRI) database. The difference between these two values represents a corporation’s environmental performance deviation. Corporate environmental performance deviation focuses on strategic choices related to environmental management, while recognizing that environmental management is the result of both institutional pressures and within-firm strategic decisions. Aligned with this focus, variables 2 related to this strategic choice are used to explain deviation in environmental management, including an environmental integration capability, firm strategy, and industry munificence and dynamism. Associated with the internal and external organizational analysis, institutional theory and the resource-based view (RBV) are used to explore the tension between deviation to increase competitiveness versus isomorphism to attain legitimacy. The sample is composed of 311 U.S. firms who have reported their toxic air releases to the TRI from 1998-2007. The sample is broken down into two subsets, those that exceed (positive deviation) or fail to meet (negative deviation) predicted environmental performance. Results of a longitudinal analysis show that positive environmental deviation is related to a greater capacity to strategically integrate environmental issues into a firm’s existing business approach, less munificence and dynamism in the task environment, and reduced financial fluctuations. Negative environmental deviation is decreased through a demonstrated capacity to strategically integrate environmental issues into a firm’s existing strategic approach, and related to greater munificence and dynamism in the task environment, reduced profitability and increased financial fluctuations. Lastly, although there are no significant main effects for corporate environmental legitimacy, the paradoxical combination of negative deviation and environmental legitimacy can reduce the severity of the negative financial results to negative deviation, both in terms of profitability and financial fluctuations.

This dissertation sought to develop a grounded theory explaining how ENGOs assess the environmental performance of firms, select target industries and firms, and influence those targeted industries and firms. A preliminary model based on research in the fields of social movements, neo-institutional theory, stakeholder theory, and corporate social performance was developed. The model contained 21 propositions: seven regarding assessment, nine regarding targeting, and five regarding influencing. Interviews were conducted with 33 representatives of five ENGOs: Natural Resources Defense Council (NRDC), Greenpeace, Environmental Defense (ED), World Resources Institute (WRI), and Union of Concerned Scientists (UCS). NRDC and WRI served as pilot studies. NRDC, Greenpeace, and ED were considered case studies for the purpose of drawing inferences about the propositions. Insufficient interviews were conducted at WRI and UCS to draw inferences from them; however, data from these interviews was included in the dissertation to the extent it provided additional support for the inferences drawn. Qualitative methods were used to analyze the data. Results regarding the propositions were presented, as well as additional findings going beyond the propositions. A grounded theory of how ENGOs assess, target, and influence firms was developed based on the results; a model to accompany the grounded theory was also developed. / Ph. D.

Eco-innovation is crucial for companies to balance environmental compliance with profitability. It involves implementing more efficient resource use and reducing harmful environmental effects. However, eco-innovation requires significant resources and corporate commitment. This thesis examines how sustainability affects firms’ performance and how some firms’ structures influence this relationship. Three articles are included: one studies the moderating role of the supply chain network in the relationship between corporate environmental and financial performance; the second studies how board gender diversity impacts eco-innovation through a moderated mediation model introducing the CSR committee as a mediator and board-independent members as a moderator; and the third studies the link between eco-innovation and productivity in reducing GHG emissions.

For almost 40 years researchers have been trying to identify the relationship between corporate environmental and corporate economic performance. Neither theoretical debate nor empirical studies investigating the relationship show conclusive results. Within a field research seminar at Technische Universität Dresden, nine students conducted a meta-analysis of 124 studies to assess different aspects of the relationship between corporate economic and corporate environmental performance. In the first part of our paper, we analyze and present the theoretical background based on a review of literature. In the second part, we test for empirical evidence. At first, the conceptual frameworks and measurement methods for corporate economic and corporate environmental performance are discussed. We also look at the impact of environmental performance on shareholder value. Thereafter, we examine the influence of time, industries and publication bias. In conclusion, our research indicates that the quality of journals merits further examination to improve results.

For almost 40 years researchers have been trying to identify the relationship between corporate environmental and corporate economic performance. Neither theoretical debate nor empirical studies investigating the relationship show conclusive results. Within a field research seminar at Technische Universität Dresden, nine students conducted a meta-analysis of 124 studies to assess different aspects of the relationship between corporate economic and corporate environmental performance. In the first part of our paper, we analyze and present the theoretical background based on a review of literature. In the second part, we test for empirical evidence. At first, the conceptual frameworks and measurement methods for corporate economic and corporate environmental performance are discussed. We also look at the impact of environmental performance on shareholder value. Thereafter, we examine the influence of time, industries and publication bias. In conclusion, our research indicates that the quality of journals merits further examination to improve results.

Industrin gör att samhället utifrån det ekonomiska system som det verkar i, fungerar. På samma gång står industrin för stora delar av de växthusgasutsläpp som värmer upp jorden och den globala kris som det innebär. Att företag mäter sina utsläpp, jobbar för att sänka de, genomför klimatpositiva åtgärder, klimatanpassar och jobbar förebyggande blir av vikt för att kunna minska på utsläppen såväl globalt som lokalt. Ett företag drivs utifrån olika faktorer så som att vara lönsamma på olika vis. I den här studien, som är ett samarbete med Hagainitiativet, undersöks vad 102 svenska börsnoterade företag anser om sitt klimatarbete och hur det påverkar företagets lönsamhet. Företagen svarar även på hur de menar att politiska beslut och Covid-19-pandemin påverkar deras klimatarbete. Material inhämtades med hjälp av kvantitativ metod, webbenkät.  Studien visar på att företagen över lag ställer sig positiva till att engagera sig i klimatfrågan och menar att klimatarbetet får positiva effekter för företagets lönsamhet. Allra starkast tycks synergin vara mellan klimatarbetet och en positiv effekt för varumärket samt för attraktiviteten som arbetsgivare. När Hagainitiativets enkätsvar från 2019 jämfördes med svaren från denna undersökning i 2021, svarar fler att klimatarbetet får en positiv effekt för företagets lönsamhet och färre att det får en negativ effekt. Det klimatpolitiska läget samt Covid-19 skulle kunna presentera en del av förklaringen till varför.  Resultaten indikerar på att det finns ett flertal frågor som hade varit intressant att ställa framöver för att få mer information om vad företagen gör, vad de inte gör och varför. Att ytterligare fördjupa förståelsen kring de uppfattningar som finns kan vara en del av det som krävs för att bana vägen framåt för företag att kunna jobba för hållbar utveckling och på samma gång uppnå en god lönsamhet. / The industry keeps society spinning in its current system. At the same time, it accounts for large parts of the greenhouse gas emissions which are heating up the earth and is responsible for the global crisis that it entails. Companies measuring their emissions, working to reduce them, implementing climate-positive measures, adapting to climate- change and working preventively is important to reduce emissions both globally and locally. For a company to survive, it runs based on various factors, such as being profitable in different ways. This study, which is a collaboration with the Hagainitiativet, examines what 102 Swedish listed companies think about their climate work and how it affects various profitability aspects of the business. The companies also respond to how they believe that political decisions and the Covid-19 pandemic affect their climate work. Materials were obtained using a quantitative method, web survey.  The study shows that companies in general are positive about getting involved in the climate issue and believe that their responses to climate change result in positive effects on the company's profitability. The synergy seems to be strongest between climate responses and a positive effect on the brand and the attractiveness as an employer. When the questionnaire from Hagainitiativet in 2019 were compared to the responses from this survey in 2021, more companies answered that climate work has a positive effect on the profitability and fewer that it has a negative effect. The climate policy situation and Covid-19 could present part of the explanation for why this is.  The results indicate that there are several questions that would be interesting to ask in the future to get more information about what companies do, what they do not do and why. Further deepening the understanding of existing perceptions, can be part of what is required to pave the way for companies to work for sustainable development and at the same time achieve profitability.

For more than 40 years, a tremendous number of studies have empirically explored the relationship between Corporate Environmental Performance (CEP) and Corporate Financial Performance (CFP). This study considers the relationship from a new perspective—via a qualitative research approach based on expert interviews. First, practitioners are queried for their view on the link between CEP and CFP and how to measure it. Since the vast majority see a positive relationship, this study contributes with a new form of evidence that it pays to be green. The chosen qualitative approach also allows a more detailed analysis of underlying cause-and-effect mechanisms. For instance, interviewed practitioners emphasize a direct and indirect impact from CEP on CFP. Second, the study conducts interviews with experts from research and associations (non-practitioners) and compares the viewpoints of the two interview groups. One prevalent difference refers to the fact that non-practitioners do not focus on the two impact levels. Moreover, business experts perceive the link between CEP and CFP as much less complex and reveal more pragmatically oriented considerations. The study then discusses how the interview results and identified differences can be used to direct future research and to support corporations in their move towards sustainability.

For more than 40 years, a tremendous number of studies have empirically explored the relationship between Corporate Environmental Performance (CEP) and Corporate Financial Performance (CFP). This study considers the relationship from a new perspective—via a qualitative research approach based on expert interviews. First, practitioners are queried for their view on the link between CEP and CFP and how to measure it. Since the vast majority see a positive relationship, this study contributes with a new form of evidence that it pays to be green. The chosen qualitative approach also allows a more detailed analysis of underlying cause-and-effect mechanisms. For instance, interviewed practitioners emphasize a direct and indirect impact from CEP on CFP. Second, the study conducts interviews with experts from research and associations (non-practitioners) and compares the viewpoints of the two interview groups. One prevalent difference refers to the fact that non-practitioners do not focus on the two impact levels. Moreover, business experts perceive the link between CEP and CFP as much less complex and reveal more pragmatically oriented considerations. The study then discusses how the interview results and identified differences can be used to direct future research and to support corporations in their move towards sustainability.