Green and sustainable development case for multinational enterprises

Nancy H. Vaz

Chapter 16 in The Role of Multinational Enterprises in Supporting the United Nations' SDGs, 2022, pp 338-349 from Edward Elgar Publishing

Abstract: In the wake of the problem of global warming and the impending disaster, a clarion call given by Pope Francis in his encyclical 'LAUDATO SI', mi' Signore' awakens every resident on earth to give immediate attention to the sustainable and green development of our home planet. This call is very much applicable to industries, with special reference to Multinational Enterprises (MNEs), as they have greatly contributed, and still continue to contribute, to global warming. In the past, as part of their corporate social responsibility, these organizations have undertaken many social causes. The question to ponder in the environmental context will be: Can the MNEs adopt CSR strategies in environmental sustainability in the places where they operate globally? If so, how should they do it? What can be their contribution in environmental sustainability? What would they gain in return? This paper makes use empirical studies to answer the questions. The studies evaluated present the state of the environment, the need for its sustainable development, the state and image of CSR activities of MNEs and what amounts to ideal CSR, need for involvement of MNEs and the common man in environmental sustenance, strategies that can be adopted for environmental sustenance, need for partnering with the educational institutions for obtaining best outcome and the benefits derived by the MNEs through such strategies, especially by adopting Cause Related Marketing (CrM) strategy. Further, a framework has been suggested for MNEs for CSR activities in sustaining a healthy environment.

Keywords: Business and Management; Economics and Finance; Environment (search for similar items in EconPapers)
Date: 2022
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