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Lessons for Creating Shared Value from ESG and RBC : Toward Indicators and Operationalisation

Mares, Radu LU and Charman, Ken P. (2024) In Boletín de Estudios Económicos 79(235). p.109-128
Abstract
Creating shared value (CSV), environmental, social, and governance (ESG) investing, and responsible business conduct (RBC) are three frameworks used to assess companies' sustainability impacts. As a relative newcomer, we assess the role of CSV developed in the strategic management studies of Porter and Kramer in light of recent developments in ESG and RBC. Each framework offers its own perspective, but all focus on the challenge of measuring and demonstrating practical impact. Each contributes insights and metrics to assess corporate activity on broader issues than simply narrowly defined and measured shareholder value. This article highlights the remarkable speed and evolution of ESG and RBC. The conclusion reached is that CSV should... (More)
Creating shared value (CSV), environmental, social, and governance (ESG) investing, and responsible business conduct (RBC) are three frameworks used to assess companies' sustainability impacts. As a relative newcomer, we assess the role of CSV developed in the strategic management studies of Porter and Kramer in light of recent developments in ESG and RBC. Each framework offers its own perspective, but all focus on the challenge of measuring and demonstrating practical impact. Each contributes insights and metrics to assess corporate activity on broader issues than simply narrowly defined and measured shareholder value. This article highlights the remarkable speed and evolution of ESG and RBC. The conclusion reached is that CSV should leverage the principles of materiality and due diligence that underlie ESG and RBC, respectively, while contributing its unique insights in terms of business models, innovation, and contribution to societal needs. We see the merits of an integrative approach in which the three perspectives provide an updated and nuanced understanding of shareholder value and, more broadly, stakeholder value. This analysis will be valuable to academics, policymakers, business managers, and practitioners seeking answers to the perennial questions about the role of business and finance in society. (Less)
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author
and
organization
alternative title
Lecciones para el valor compartido de ESG y RBC (Spanish) : Hacia indicadores y operacionalización (Spanish)
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Public international law, Human rights, Folkrätt, Mänskliga rättigheter
in
Boletín de Estudios Económicos
volume
79
issue
235
pages
19 pages
DOI
10.18543/bee.2966
language
Multiple languages
LU publication?
yes
id
d4345842-2b5f-4e67-9a83-e885521a1643
alternative location
https://bee.revistas.deusto.es/article/view/2966
date added to LUP
2025-04-22 16:31:19
date last changed
2025-04-23 11:22:24
@article{d4345842-2b5f-4e67-9a83-e885521a1643,
  abstract     = {{Creating shared value (CSV), environmental, social, and governance (ESG) investing, and responsible business conduct (RBC) are three frameworks used to assess companies' sustainability impacts. As a relative newcomer, we assess the role of CSV developed in the strategic management studies of Porter and Kramer in light of recent developments in ESG and RBC. Each framework offers its own perspective, but all focus on the challenge of measuring and demonstrating practical impact. Each contributes insights and metrics to assess corporate activity on broader issues than simply narrowly defined and measured shareholder value. This article highlights the remarkable speed and evolution of ESG and RBC. The conclusion reached is that CSV should leverage the principles of materiality and due diligence that underlie ESG and RBC, respectively, while contributing its unique insights in terms of business models, innovation, and contribution to societal needs. We see the merits of an integrative approach in which the three perspectives provide an updated and nuanced understanding of shareholder value and, more broadly, stakeholder value. This analysis will be valuable to academics, policymakers, business managers, and practitioners seeking answers to the perennial questions about the role of business and finance in society.}},
  author       = {{Mares, Radu and Charman, Ken P.}},
  keywords     = {{Public international law; Human rights; Folkrätt; Mänskliga rättigheter}},
  language     = {{mis}},
  number       = {{235}},
  pages        = {{109--128}},
  series       = {{Boletín de Estudios Económicos}},
  title        = {{Lessons for Creating Shared Value from ESG and RBC : Toward Indicators and Operationalisation}},
  url          = {{http://dx.doi.org/10.18543/bee.2966}},
  doi          = {{10.18543/bee.2966}},
  volume       = {{79}},
  year         = {{2024}},
}