Environmental Drivers, Environmental Practices, and Business Performance: A Systematic Literature Review and Future Research Directions

Efthymia Iliopoulou (), Aspasia Vlachvei and Eirini Koronaki
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Efthymia Iliopoulou: Department of Economics, University of Western Macedonia, 52100 Kastoria, Greece
Aspasia Vlachvei: Department of Economics, University of Western Macedonia, 52100 Kastoria, Greece
Eirini Koronaki: Department of Economics, University of Western Macedonia, 52100 Kastoria, Greece

Sustainability, 2024, vol. 16, issue 11, 1-27

Abstract: Internal and external pressures urge businesses to adopt sustainable practices and compel them to manage natural resources for enhanced performance. The objective of this literature review research was to investigate the stakeholders influencing companies to embrace environmental practices, document existing environmental practices, and investigate the effects of these practices on business performance. This study spans a 25-year period, from 1998 to 2023, utilizing articles sourced from the Scopus database. The novelty of this research is that (a) each dimension—drivers, environmental practices, and performances—is individually examined, as well as in combination; (b) environmental practices are categorized based on the value chain framework, across the different stages of business operations; and (c) it includes analysis of the effects of each of the environmental practices on all three types of performance—environmental, financial, and non-financial. This research is presented with its findings and highlights the gaps in the existing literature. This work discusses the implications of this research for academics and managers.

Keywords: environmental drivers; environmental practices; business performance; firm characteristics; literature review (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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