Applying Responsible Ownership to Advance SDGs and the ESG Framework, Resulting in the Issuance of Green Bonds

This study aimed to contribute to the strand of literature encompassing governance, sustainability, and stakeholder theory by addressing an inchoate element of responsible ownership: collective action by different stakeholders. Our study’s originality rests on the introduction of an ownership strate...

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Veröffentlicht in:Sustainability 2021-07, Vol.13 (13), p.7331
Hauptverfasser: Jonsdottir, Gudrun Erla, Sigurjonsson, Throstur Olaf, Alavi, Ahmad Rahnema, Mitchell, Jordan
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container_end_page
container_issue 13
container_start_page 7331
container_title Sustainability
container_volume 13
creator Jonsdottir, Gudrun Erla
Sigurjonsson, Throstur Olaf
Alavi, Ahmad Rahnema
Mitchell, Jordan
description This study aimed to contribute to the strand of literature encompassing governance, sustainability, and stakeholder theory by addressing an inchoate element of responsible ownership: collective action by different stakeholders. Our study’s originality rests on the introduction of an ownership strategy as a governance mechanism for collective action and responsible ownership in order to implement the United Nations Sustainable Development Goals (SDGs) and an environmental, social, and governance (ESG) framework. Using a twofold empirical methodology—studying of archival data and qualitative case work—we provide empirical evidence from a case study of a Nordic energy company showing that applying an ownership strategy helped to strengthen the approach to SDGs and ESG while leading to positive benefits: in this case, the issuance of green bonds. Our theoretical contribution is the addressing of a gap in the literature exploring how an ownership strategy can be a uniting point for collective action, based on the hypothesis that an ownership strategy provides an important reinforcement of a “virtuous cycle”. Policymakers who are interested in promoting long-term commitment of different stakeholders with a focus on sustainability and improved agency should encourage the formulation of an ownership strategy that explains the owners’ commitment to the environment, social causes, and/or governance guidelines. Therein lies the practical contribution of this work. In this study, we found that an ownership strategy with these elements helped to strengthen the firm’s commitment to SDGs and ESG.
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subjects Activists
Boards of directors
Collaboration
Collective action
Corporate governance
Economic crisis
Equity funds
Institutional investments
Literature reviews
Qualitative analysis
Social responsibility
Stakeholders
Stockholders
Strategic planning
Sustainability
Sustainable development
title Applying Responsible Ownership to Advance SDGs and the ESG Framework, Resulting in the Issuance of Green Bonds
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