SBF Research and Course Compendium | Center for Sustainable Business

The Center solicited submissions from around the globe to recognize the best sustainable business practices within any institute. This compendium will be shared with senior leaders attending our Fall Sustainable Business Forum and published via the Center.

Articles

"Boards Better Prepared in 2024 for Tackling Financial Material Sustainability Issues but Major Weaknesses Persist”

Tensie Whelan, New York University, Stern School of Business

In 2024, U.S. public boards showed significant progress in their ability to oversee financial material sustainability issues, yet key gaps remain. Research by the NYU Stern Center for Sustainable Business highlights a rise in board members with environmental, social, and governance (ESG) credentials—from 29% in 2018 to 43% in 2023 among Fortune 100 companies. However, specific areas like climate change, water management, and labor relations continue to lack sufficient expertise. The study underscores the importance of aligning board competencies with sector-specific ESG challenges and emphasizes the need for comprehensive sustainability strategies to drive competitive advantage, risk mitigation, and innovation. While the formation of ESG committees has grown, the report calls for greater focus on relevant ESG issues tailored to industries' material risks and opportunities.

“Driving Sustainability: Catalyzing your leadership practices”

Rosina Watson, Cranfield University, Cranfield School of Management

Dr. Rosina Watson’s article, Leading for Sustainability, highlights the imperative for businesses to evolve in response to global environmental and social challenges. Watson draws on her experiences in corporate sustainability and academia to argue that traditional profit-driven models are insufficient for today's volatile, uncertain, complex, and ambiguous (VUCA) environment. She emphasizes the need for managers to develop sustainability competencies, including systems thinking, strategic foresight, and stakeholder engagement, to foster change and innovation within organizations. Cranfield School of Management’s programs exemplify these principles, integrating interdisciplinary approaches and experiential learning to equip leaders with the skills necessary to drive sustainable transformations. The article advocates for embedding sustainability as a core business strategy, underscoring that meaningful change demands leaders who are not only knowledgeable but also committed to reimagining business in a way that serves both society and the environment.

“Engagement logics: How partners for sustainability-oriented innovation manage differences between organizational logics”

Rosina Watson, Cranfield University, Cranfield School of Management, Hugh N. Wilson, University of Warwick, Warwick Business School, Emma K. Macdonald, University of Strathclyde, Strathclyde Business School

Innovation partnerships frequently experience tensions due to differences in partners' organizational logics. The literature recommends that partners adopt collaborative, empathetic mindsets but even so, tensions can threaten outcomes and partnership continuation. Difficulties can be exacerbated when firms engage stakeholder organizations in sustainability-oriented innovation projects, where each partner is seeking their own combination of social, environmental, and economic objectives. This study explores strategic responses to these differences in logic through eight case studies of sustainability-oriented innovation engagements between a focal business and an external organization. The key finding is that partners can respond to their differing logics by shaping a new “engagement logic” that guides members of both (or all) organizations. A logic frame with four value-related dimensions—value salience, instrumentality, temporality, and language—allows a subtly idiosyncratic engagement logic to be created that is acceptable to both parties. This classification of ingredients of a logic frame forms a wider contribution to the institutional-logics literature. A complementary range of logic practices is identified, covering logic emergence, logic enactment, and boundary defining. The engagement logic aids the partnership by contributing to four partnership-level generative outcomes: partnership commitment, capability integration, scope flexibility, and system orientation. A notable finding is the presence of a logic boundary, specified in work, time, and space, enabling the engagement logic to co-exist with organizational logics; a research direction is whether this boundary also exists in logics at organizational and field levels. The study shows partnerships to be a new context within which novel logics can emerge, contributing to an understanding of how logics evolve.

“Practitioners' Guide to Embedding Sustainability”

Chisara Ehiemere, NYU Stern Center for Sustainable Business, Tensie Whelan, New York University, Stern School of Business

This article advances sustainability towards a new logic that favors the flourishing of Sustainable Development Goals (SDGs) and well-being from North to South. It presents a Global Dual-Perspective (GDP) and a Dynamic Equilibrium Framework (DEF) that inform sustainability, management, and international business with a paradoxical view of the SDGs and a strengthened analysis that outlines the role of multinational enterprises (MNEs) in addressing the SDGs within and across the North–South. This article reveals that organizations will effectively unleash virtuous cycles of SDGs and well-being when confronting and juxtaposing environmental, health, social, economic, and law-oriented goals. Furthermore, virtuous cycles will be more successful when splitting and integrating short and long-term conflicting goals within and across the North–South to fuel systemic resilience and sustainable development.

“Unleashing Sustainable Value in Food & Agriculture”

Tensie Whelan, New York University, Stern School of Business, Ben Ninio, Deloitte Consulting LLP

This article, created by NYU Stern Center for Sustainable Business in collaboration with Deloitte Consulting, examines the role of sustainability strategies across the food and agriculture value chain. It highlights that the sector faces critical challenges, including environmental degradation, resource depletion, and social inequalities, which threaten long-term profitability. By using the Return on Sustainability Investment (ROSI™) framework, the report identifies 12 key sustainability strategies that drive financial value, such as food waste reduction, sustainable sourcing, and energy management. Through a survey of 350 executives across the value chain—from processors to retailers—the report finds that nearly all respondents saw financial benefits from sustainability investments, with 99% reporting revenue growth and 98% experiencing cost reductions. The analysis highlights how sustainability outcomes differ by value chain segment. Processors and food service providers achieved the highest revenue growth, while manufacturers faced challenges due to thin margins and high capital costs. The report emphasizes that companies must collaborate across the value chain, invest in sustainable practices, and act quickly to avoid losing market share and facing higher costs from regulatory pressures. By embedding sustainability into business strategies, organizations in the food and agriculture sector can unlock new opportunities for financial and operational success while addressing global sustainability challenges.

“Unleashing virtuous cycles of sustainable development goals and well-being"

Farley Simon Nobre, University of Parana, School of Management

This article advances sustainability towards a new logic that favors the flourishing of Sustainable Development Goals (SDGs) and well-being from North to South. It presents a Global Dual-Perspective (GDP) and a Dynamic Equilibrium Framework (DEF) that inform sustainability, management, and international business with a paradoxical view of the SDGs and a strengthened analysis that outlines the role of multinational enterprises (MNEs) in addressing the SDGs within and across the North–South. This article reveals that organizations will effectively unleash virtuous cycles of SDGs and well-being when confronting and juxtaposing environmental, health, social, economic, and law-oriented goals. Furthermore, virtuous cycles will be more successful when splitting and integrating short-and long-term conflicting goals within and across the North–South to fuel systemic resilience and sustainable development.

“What We Measure Today Does Not Matter When It Comes to Jobs"

Ulrich Atz, NYU Stern Center for Sustainable Business, Tensie Whelan, New York University, Stern School of Business

This report addresses the inadequacies in measuring and reporting human capital metrics in the corporate world, with a focus on U.S. businesses. It argues that current accounting and ESG (Environmental, Social, Governance) metrics fail to capture essential aspects of employee well-being, such as wages, turnover rates, and employee benefits. Many companies prioritize shareholder returns, often at the expense of employee compensation, resulting in over 50% of Russell 1000 employees not earning a living wage. The lack of proper measurement methods contributes to short-term financial gains but harms long-term performance, as seen in high employee turnover and decreased productivity. Case studies, such as Amazon, highlight the significant financial impact of poor employee management. Despite being rated highly by ESG frameworks, Amazon experienced over $8 billion in costs due to high employee turnover. The report calls for a shift in how businesses and ESG raters assess human capital, urging the use of more accurate and meaningful metrics to evaluate and improve job quality, which could lead to enhanced corporate performance and societal impact.

Chapters

“Inclusive professional education for sustainability: The Cranfield MSc Sustainability”

Mariana Galvão Lyra, LUT Business School, Hanna Lehtimäki, LUT Business School  

Rosina Watson, Cranfield University, Cranfield School of Management, Kenisha Garnett, Cranfield University, Cranfield School of Management

There is increasing pressure on business to contribute to solving global social and environmental challenges. Diversity can help companies better represent their stakeholders and find creative solutions to systemic challenges in partnership with others. Business schools play a key role in equipping leaders with key competencies for sustainability including systems thinking, collaboration and integrated problem solving. To do this effectively, business schools themselves need to be inclusive, not only to reduce inequalities, but to facilitate learning environments conducive to developing these competencies, and to bring together diverse talents with the shared purpose of creating value for society. We reflect on how to deliver interdisciplinary and inclusive professional education for sustainability, informed by our experience of designing and running Cranfield’s part-time MSc Sustainability. Iterating between our reflections, which draw on evidence from learners, faculty, staff and employers, and the prior literature, we develop a multi-level framework setting out how inclusive learning and teaching can be embedded at individual, course, institutional and societal level. Focusing on the needs of professionals helps attract learners who are representative of society, and who can create immediate positive impact through their organisations. Institutional enablers are critical to enhancing diversity through interdisciplinarity. Considering the societal level prompts educators to think about the societal context for, and impact of, their programmes. We highlight key lessons and best practice for future development of inclusive professional learning experiences at Cranfield and beyond.

“Working title: Stakeholder engagement in environmental innovation”

The chapter Stakeholder Engagement in Environmental Innovation by Rosina Watson, Emma K. Macdonald, and Hugh N. Wilson explores the growing need for organizations to integrate environmental goals into their innovation strategies through meaningful stakeholder collaboration. In an era of heightened environmental crises, the authors argue that companies must embrace partnerships across sectors to foster innovation that aligns ecological and financial imperatives. The chapter presents a capability-based framework for successful stakeholder engagement in environmental innovation, highlighting competencies such as systems thinking, alignment of diverse objectives, and dynamic learning processes. Drawing on a systematic review and case studies, the authors demonstrate that sustainable innovation thrives through cross-sector collaborations, where engaging a wide array of stakeholders enables companies to address complex environmental challenges, mitigate risks, and enhance competitive advantage. This framework provides actionable insights for companies seeking to leverage stakeholder engagement to create value across economic, environmental, and social domains, ultimately contributing to systemic, sustainable change.

“Teaching Sustainability: More than just a game”

Rosina Watson, Cranfield University, Cranfield School of Management, Gemma Adams, Cranfield University, Cranfield School of Management, Rosina Borreli, Cranfield University, Cranfield School of Management

In this Book Chapter, the authors contextualize and introduce the Cranfield University’s Exploring Sustainable Futures game. They propose this “game” as an example of an innovative learning intervention that can teach sustainability competencies in the context of management education at the post-graduate level. They emphasize the importance of Higher Education Institutions in offering sustainability education to equip leaders to respond to the rapidly changing organizational contexts in business today and equip leaders to respond to the changing needs and expectations of stakeholders in the context of a volatile, uncertain, complex, and ambiguous (VUCA) environment.

Courses

“Corporate Sustainability”

Matt Kingston, University of Alberta, Alberta School of Business

This course is an online asynchronous course developed for the Alberta School of Business MBA program (University of Alberta). This course consists of asynchronous materials such as videos, websites, reports, and simulations, which can give students an idea of the environmental and social challenges that we currently face, and the business tools we can employ to address them. Students can engage with these materials in their own time and interact with each other via forum to apply concepts and share learnings from their respective careers. The deliverables for this course include the identification and mitigation of greenwashing, the identification and strategic assessment of a new sustainability initiative, and the pitch of a novel sustainability initiative to a c-suite.

“Green Chemical Engineering and Sustainability”

Joaquin Rodriguez Alonso, University of Pittsburgh

This course deals with the application of the principles of green chemistry and green engineering to the field of chemical engineering. It is framed under the umbrella of ESG (Environment-Society-Governance) for Sustainability and provides a thorough introduction to “green” strategies for the design of chemicals, manufacturing processes, supply chain, and businesses. The course integrates topics such as Environment, Health, Safety, Bioprocessing, Life Cycle Assessment, Procurement, Energy, Waste, Eco-footprinting, Total Cost Assessment, Industrial Ecology, Circular Economy, and Business ESG Reports.

“Special Topics in Logistics, Business and Public Policy; Strategic Management with a Sustainable Mindset”

Nima Farshchi, University of Maryland, Robert H. Smith School of Business, Christopher Yeh, Center for Social Value Creation

In today’s global marketplace, firms face mounting pressure from various stakeholders–activists, investors, and consumers– to mitigate the environmental impact of their operations and supply chains while upholding fundamental human rights and labor standards. At the same, using a sustainability lens while making strategic business decisions offers new opportunities for innovation and efficiency gains. This course delves into how firms can create a long-term strategy, at the intersection of sustainability and supply chain management, exploring how firms can design and manage operations and supply chains that are environmentally and socially responsible, reduce costs, and improve efficiency, while remaining aligned with overarching corporate vision. Students will examine the complexities of integrating sustainability principles into supply chain strategies, considering the many environmental, social/political, and economic factors that play a part in this process.

“Sustainability: A world to fix”

Joaquin Rodriguez Alonso, University of Pittsburgh

The course introduces the most common concepts and topics of sustainability and explores students’ potential to develop proposals to solve pressing needs and current problems of our planet and humankind. Topics may include the agendas for sustainable development, the status of sustainable development goals, the environmental, social and governance (ESG) reports and compliance, advanced climate technologies to meet net-zero goals, global power consumption and renewable energies, social injustices and inequalities, the challenges of waste management and recycling, nature capital and planet boundaries, land use and water accessibility in the food chain, life cycle assessment and circular economy, community-based sustainable projects. However, other topics can be developed by the initiatives or requests from students. The course makes use of a broad range of literature, including intelligence reports. Instructor summarizes and document areas of concern. Students identify and document singular problems in individual assignments. Students analyze selected problems for presentations and reports. Students develop a project for a feasible solution to a selected problem. Students are expected to meet regularly with the instructor outside the classroom for discussions and coaching. Grading is based on assignments, debates, and presentations.

Course Projects

“Capstone Assignment” - BACC2401 (Financial Accounting) and BECN2401 (Economic Analysis for Managerial Decisions)

Elise Boyas, University of Pittsburgh, Pitt Business, Katz Graduate School of Business, Haimanti Banerjee, University of Pittsburgh, Pitt Business, Katz Graduate School of Business

In this Capstone Assignment for two graduate business courses, Financial Accounting and Economic Analysis for Managerial Decisions, Professors Boyas and Banerjee outline a course that supports their students’ ability to analyze ESG reporting metrics and how those metrics related to the ESG aspects and operations of businesses. The goals of the project are:

1. To understand current ESG disclosure requirements and how they are changing.

2. Relate company financial performance (via ratio and metric analysis) to company disclosures and statements on ESG risks and actions.

3. Interpret company ESG disclosures and discuss/relate corporate initiatieces to concepts of social welfare and governance.

“Think like an Expert”

Joaquin Rodriguez Alonso, University of Pittsburgh

In this Course Project, junior and senior students work together to explore how team building games can be effective strategies to develop communication, teamwork, and leadership skills. The activities in this project and reported here aimed to provide students with an experience to realize the value of communication, negotiation, leadership, and teamwork, based on previous technical knowledge acquired during the course, but open to uncertainties and opinion. The activity was developed and tested in an elective course for junior and senior students on green chemical engineering and sustainability. The activity provided students with the attractive feature of approaching experts' qualified opinions about main topics explored in the course.

Papers

“How (entrepreneurial) business sustainability informs cultured meat in addressing the Sustainable Development Goals”

Farley Simon Nobre, University of Paraná, School of Management

This study explores the connection between cultured meat production and business sustainability (BS) strategies in addressing the United Nations' Sustainable Development Goals (SDGs). It emphasizes the need for cultured meat companies to adopt true BS strategies that go beyond conventional profit-driven approaches and instead align corporate progress with societal and environmental goals. Using case studies of two multinational corporations focused on animal-based protein and two startups in the cultured meat sector, the research draws on the Natural-Resource-Based View (NRBV) framework to map how these firms' practices contribute to sustainability. The study categorizes the firms’ sustainability practices into four major NRBV strategies: Pollution Prevention, Product Stewardship, Clean Technology, and Base of the Pyramid. Conceptual maps link the firms' business activities to specific SDGs, revealing synergies and trade-offs in areas such as environmental impact, social welfare, and economic development. Results show that cultured meat startups demonstrate significant potential in promoting sustainability and positively impacting multiple SDGs. The research contributes a methodology for mapping strategic BS practices and highlights the importance of integrating business sustainability into the broader goals of addressing climate change, food security, and poverty reduction through cultured meat innovations.

“In the Margins of Stakeholder Engagement: Fringe Stakeholders’ Inclusion in Sustainability Transition Initiatives”

Mariana Galvão Lyra, Business School, Lappeenranta-Lahti- University of Technology LUT University, Hanna Lehtimäki, Business School, University of Eastern Finland

This paper explores the inclusion of fringe stakeholders, marginalized and non-collaborative groups—in sustainability transition initiatives. Fringe stakeholders, such as activists and local resistance actors, often lack power, legitimacy, and strategic capabilities, but they challenge societal status quos and push for systemic change. The study highlights that traditional stakeholder literature has largely overlooked these groups, focusing instead on more influential or salient stakeholders. The authors argue for a deeper understanding of fringe stakeholders in the context of sustainability transitions and propose methodological approaches to include their voices in stakeholder engagement research. By examining grassroots initiatives, bottom-up approaches, and vulnerable user perspectives, the paper provides insights into the potential transformative impact fringe stakeholders can have in sustainability transitions, especially in urban settings.

“Is Workplace Flexibility Good for the Environment? Evidence from Satellite Imagines”

Mark (Shuai) Ma, University of Pittsburgh, Betty Xing, Baylor University, Ling Zhang, Rowan University

What is the impact of flexible work arrangements on the environment? On one hand, work from home can have a positive impact on the environment by cutting the GHG emissions produced by employee commuting. On the other hand, employees may increase non-work-related trips, such as traveling to restaurants, grocery shopping, and recreational activities. Furthermore, the energy used at home may be less efficient than the energy used at the office. In this paper, we use actual workplace flexibility data from the Flex Index and satellite images of greenhouse gases to answer this question. Specifically, we compare the change in Carbon dioxide (CO2) and Nitrogen dioxide (NO2) emissions before and after COVID between the 10 metropolitans with the least flexible work arrangements and the 10 metropolitans with the most flexible work arrangements. We find that the most flexible metropolitans show significantly less increase in emissions of both types of greenhouse gas (GHG) than the least flexible metropolitans. Further, the most flexible metropolitans have higher economic growth than the least flexible metropolitans. Thus, their slower growth in GHG emission is not due to lower economic growth. The findings in this paper suggest that flexible work arrangements have a positive impact on the environment.

“Social Profit Orientation: Lessons from Organizations Committed to Building a Better World”

Leonard L. Berry, Texas A&M University, Tracey S. Danaher, Monash University, Timothy Keiningham, St. John’s University, Lerzan Aksoy, Fordham University, Tor W. Andreassen, Norwegian Schools of Economics

This Paper introduces the concept of social profit orientation, where organizations prioritize the common good through social and environmental initiatives. Based on 62 executive interviews from 21 global organizations, the research highlights the commitment of these entities to enhancing societal well-being and environmental health, while maintaining financial sustainability. The authors distinguish social profit orientation from traditional corporate social responsibility (CSR) by emphasizing its integration into the core mission, rather than as a peripheral activity. Organizations with a social profit orientation invest resources—such as time, knowledge, and capital—into initiatives that directly address societal challenges. Key drivers include innovative leadership, resource allocation, and collaboration with stakeholders. The Paper provides a framework outlining the antecedents, moderators, and outcomes of social profit orientation, offering insights into how organizations can achieve both social and financial goals. This research serves as a guide for businesses aiming to balance profitability with meaningful societal impact.

“The Effect of an Emergency Savings Program on Employee Savings and Work”

Carrie Leana, University of Pittsburgh, Xue Yang, University of Pittsburgh, Daniel Berkowitz, University of Pittsburgh, Daniya Kamran-Morley, University of Pittsburgh, Pitt Business, Katz Graduate School of Business

Financial precarity – the persistent worry about one’s financial situation – can have detrimental effects on individuals’ cognitive, emotional, and social functioning. It can also interfere with work performance. In this paper we report on a two-year field intervention aimed at addressing financial precarity through the implementation of an employee emergency savings program. The program was employer-sponsored but required voluntary employee participation in the form of a weekly payroll deduction. Using propensity score matching of program participants with non-participants, results showed that program participants accrued more in emergency savings than non-participants, and that for more financially precarious employees, participation in the program was associated with improved work performance. Supplemental analysis showed that participation in the program, and the enhanced savings associated with it, buffered employees from financial shocks that might otherwise have interfered with their performance at work. Thus, the program offered benefits to employees in the form of enhanced short-term savings, and to the employer in the form of enhanced work performance. We discuss the implications of the findings for employee financial wellness initiatives.

Presentations

“Social Profit Orientation: Lessons from Organizations Committed to Building a Better World”

Leonard L. Berry, Texas A&M University, Mays Business School, Tracey Danaher, Monash University, Timothy Keiningham, St. John’s University, The Peter J. Tobin College of Business, Lerzan Aksoy, Fordham University, Gabelli School of Business, Tor Wallin Andreassen, Norwegian School of Economics

This Article introduces the concept of social profit orientation, where organizations prioritize the common good through social and environmental initiatives. Based on 62 executive interviews from 21 global organizations, the research highlights the commitment of these entities to enhancing societal well-being and environmental health, while maintaining financial sustainability. The authors distinguish social profit orientation from traditional corporate social responsibility (CSR) by emphasizing its integration into the core mission, rather than as a peripheral activity. Organizations with a social profit orientation invest resources—such as time, knowledge, and capital—into initiatives that directly address societal challenges. Key drivers include innovative leadership, resource allocation, and collaboration with stakeholders. The Article provides a framework outlining the antecedents, moderators, and outcomes of social profit orientation, offering insights into how organizations can achieve both social and financial goals. This research serves as a guide for businesses aiming to balance profitability with meaningful societal impact.

“Sustainability Policymaking with En-ROADS: fostering decisions to set global priorities and synergies”

Farley Simon Nobre, University of Parana, School of Management

This presentation outlines the use of the En-ROADS Climate Action Simulation, developed by Climate Interactive and MIT Sloan, as a tool for fostering global sustainability policymaking. The simulation provides a platform for participants to explore the impact of various policies on achieving climate goals, such as limiting global warming to 1.5-2°C. It incorporates decision-making variables like energy supply, transport, building and industry efficiency, carbon dioxide removal, and economic growth. Stakeholders from different sectors, including conventional energy, clean technology, climate justice, industry, agriculture, developing and developed nations, and the United Nations, participate in the simulation. Each stakeholder group sets priorities based on their interests, and the simulation mediates discussions to resolve tensions and build synergies for sustainability. The goal is to use En-ROADS to set priorities and make decisions that foster global and regional sustainability while balancing economic and environmental needs. The presentation emphasizes collaboration and strategic decision-making to address climate change effectively and equitably.

Public Comment

“Is it time to survey how we teach Sustainability in Chemical Engineering?”

Joaquin Rodriguez Alonso, University of Pittsburgh

In this article, Professor Alonso shares his question as to how sustainability should be integrated into the fundamental courses of Chemical Engineering tracks.