Entrepreneurship and Sustainability

Andrea E. McGrath and Laurie Lane-Zucker

Chapter 4 in Sustainability:Business and Investment Implications, 2023, pp 81-112 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This chapter defines the main elements of entrepreneurship — stages of development, sources of funding, and approaches of launch and development. It explores the emergence and expansion of entrepreneurs that are tackling a diversity of environmental, social, and governance challenges and some of their differentiating characteristics. While companies of all sizes have been addressing numerous sustainability challenges for years, the adoption of the Sustainable Development Goals (SDGs) by 193 countries in 2015 sparked a global call to action for all stakeholders to work toward achieving the 17 ambitious targets by 2030. Limited progress and wide funding gaps now highlight the need for innovative business models, investing strategies, and even — as some might argue — a completely new way of doing business. While much of this book focuses on how mainstream businesses and investors are adapting to the challenges and opportunities presented by the sustainability agenda, the authors argue that entrepreneurs are also playing a critical role. While tackling sustainable development, entrepreneurs are creating new products and services, identifying, and capturing new customers and markets, creating and demonstrating new business models and helping to move toward a more sustainable economy. The chapter highlights how key global developments are helping to support the market demand for these entrepreneurs. It concludes that a supportive ecosystem, informed by systems thinking, is increasingly critical to launch and develop these entrepreneurs and the economy that holds and fosters them.

Keywords: Sustainability; Sustainability Risks and Opportunities; Sustainability: Business and Investment Implications; Sustainable Finance; Sustainable Investing; Impact Investing; Sustainable Entrepreneurship; ESG; Business Case for Sustainability; Investment Case for Sustainability; Introduction to Sustainability; Introduction Sustainable Finance; Introduction to Sustainable Investing; Introduction to ESG; Introduction to Impact Investing; Sustainability Handbook; Sustainability Textbook; Sustainable Business Textbook; Sustainable Business Handbook; Sustainable Finance Textbook; Sustainable Finance Handbook; Impact Investing Textbook; Risk Management & Sustainability; The Corporate Sustainability Spectrum; Business and Financial Implications of Climate Change; The Financial Case for Embedding Sustainability Core to Business Strategy; Corporate Sustainability & Financial Performance; Shareholder Engagement; The Pressing Needs For A Sustainable World; Scale-up; Impact Entrepreneur; Impact Entrepreneurship; Sustainability Science and Challenges; Internalizing the Externalities; The Role of Government; Fiscal Impact; Macro-economic Performance; Realism; Mission Creep; Single Issue Capture; GreenWashing; Whitewashing; Hidden Agendas; Transparency; and Competitiveness (search for similar items in EconPapers)
JEL-codes: L21 L26 M1 Q01 (search for similar items in EconPapers)
Date: 2023
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