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Beyond Compliance - Exploring ESG Integration in Nordic Corporations

Korkashvili, Mikheil LU (2024) MIDM19 20241
Department of Human Geography
LUMID International Master programme in applied International Development and Management
Abstract
This thesis explores the integration of Environmental, Social, and Governance practices within leading Nordic companies, focusing on Ericsson, Vestas, and Ørsted. Through a qualitative analysis supplemented by quantitative metrics, the research examines how regulatory environments, stakeholder engagements, and innovative practices influence the adoption and implementation of ESG strategies. The research reveals that strict regulatory frameworks and proactive stakeholder participation greatly impact these companies' sustainability strategies, moving them beyond compliance and into leadership in global sustainability efforts. This study used Institutional Theory, Stakeholder Theory, and Triple Bottom Line in the interpretation of the ESG... (More)
This thesis explores the integration of Environmental, Social, and Governance practices within leading Nordic companies, focusing on Ericsson, Vestas, and Ørsted. Through a qualitative analysis supplemented by quantitative metrics, the research examines how regulatory environments, stakeholder engagements, and innovative practices influence the adoption and implementation of ESG strategies. The research reveals that strict regulatory frameworks and proactive stakeholder participation greatly impact these companies' sustainability strategies, moving them beyond compliance and into leadership in global sustainability efforts. This study used Institutional Theory, Stakeholder Theory, and Triple Bottom Line in the interpretation of the ESG practices of the companies which were discussed holistically. More precisely, the results prove that, while these companies are at the forefront of mainstreaming ESG in their business models, challenges in terms of balancing stakeholder demands and managing their supply chains sustainably do remain. Regulatory settings and stakeholder-centric approaches were identified as robust points for improvement of ESG performance. This study adds to the academic subject of corporate sustainability and provides practical insights for businesses to improve their ESG practices, policy-makers willing to enhance sustainability regulation, and stakeholders willing to influence corporate governance standards. (Less)
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author
Korkashvili, Mikheil LU
supervisor
organization
course
MIDM19 20241
year
type
H2 - Master's Degree (Two Years)
subject
keywords
ESG, Sustainability Practices, Green Economy, Environmental Impact, Nordic Corporations, Innovative Practices, Corporate Social Responsibility, Renewable Energy, Compliance, Sustainable Development Goals, Governance Practices, Social Responsibility, Regulatory Frameworks
language
English
id
9157442
date added to LUP
2024-06-10 09:08:37
date last changed
2024-06-10 09:08:37
@misc{9157442,
  abstract     = {{This thesis explores the integration of Environmental, Social, and Governance practices within leading Nordic companies, focusing on Ericsson, Vestas, and Ørsted. Through a qualitative analysis supplemented by quantitative metrics, the research examines how regulatory environments, stakeholder engagements, and innovative practices influence the adoption and implementation of ESG strategies. The research reveals that strict regulatory frameworks and proactive stakeholder participation greatly impact these companies' sustainability strategies, moving them beyond compliance and into leadership in global sustainability efforts. This study used Institutional Theory, Stakeholder Theory, and Triple Bottom Line in the interpretation of the ESG practices of the companies which were discussed holistically. More precisely, the results prove that, while these companies are at the forefront of mainstreaming ESG in their business models, challenges in terms of balancing stakeholder demands and managing their supply chains sustainably do remain. Regulatory settings and stakeholder-centric approaches were identified as robust points for improvement of ESG performance. This study adds to the academic subject of corporate sustainability and provides practical insights for businesses to improve their ESG practices, policy-makers willing to enhance sustainability regulation, and stakeholders willing to influence corporate governance standards.}},
  author       = {{Korkashvili, Mikheil}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Beyond Compliance - Exploring ESG Integration in Nordic Corporations}},
  year         = {{2024}},
}