TY - JOUR

T1 - The transformation of corporate sustainability model in the context of achieving the UN SDGs

T2 - evidence from the leading Russian companies

AU - Blagov, Yury E.

AU - Petrova-Savchenko, Anastasia A.

N1 - Blagov, Y.E. The transformation of corporate sustainability model in the context of achieving the UN SDGs: evidence from the leading Russian companies / Y. E. Blagov, A. A. Petrova-Savchenko // Corporate Governance. - 2021. - Vol. 21 No. 2. - P.. 307-321.

PY - 2021/11/11

Y1 - 2021/11/11

N2 - Purpose: The purpose of this paper is to explore the current status and identify the main trends in leading Russian companies’ corporate sustainability model transformation in the context of achieving the United Nations Sustainable Development Goals (UN SDGs). Design/methodology/approach: A theoretical approach is based on the interpretation of corporate sustainability model transformation within the corporate social performance (CSP) framework. The corporate sustainability model is described according to Dyllick and Muff (2016) business sustainability (BST) 1.0-3.0 spectrum. The analysis is settled on survey data collected from leading Russian companies participated in the “Report on Social Investments in Russia” project conducted by the Russian Managers Association from 2008 to 2019. Findings: This paper finds that the BST 2.0 is becoming a dominant model based on the “creating shared value” goal. The related CSP is characterized by their orientation to the principles of the UN Global Compact; by the emergence of a coordinating role for specialized departments of corporate social responsibility (CSR) and/or sustainability; and by the regular sustainability reporting. The SDGs are generally correlated with responsible business practices that are already in existence in companies. The emerging trend towards the advanced BST 3.0 model including the SDGs integration into the main business processes is constrained by the lack of active cooperation between companies. Research limitations/implications: The research sample includes only large Russian companies with a significant industry diversity, participating in the “Report on Social Investments in Russia” project, thereby restricting the analysis of non-participants. The relatively low repetition of participants in this long-term project does also restrict the degree of generalization. Future research could be based on the findings of this paper to create and test hypotheses via a nationwide study of Russian businesses as well as cross-national comparative studies. Practical implications: The analysis of the corporate sustainability model transformation through studying the key CSP framework elements could support Russian companies in creating systemic changes of their principles, processes and outcomes measurements in the context of achieving the UN SDGs. Originality/value: This study contributes to existing literature by combining the corporate sustainability model transformation analysis with the CSP framework. It describes the experience of large Russian companies that publicly position themselves as national leaders in the field of CSR and sustainable development.

AB - Purpose: The purpose of this paper is to explore the current status and identify the main trends in leading Russian companies’ corporate sustainability model transformation in the context of achieving the United Nations Sustainable Development Goals (UN SDGs). Design/methodology/approach: A theoretical approach is based on the interpretation of corporate sustainability model transformation within the corporate social performance (CSP) framework. The corporate sustainability model is described according to Dyllick and Muff (2016) business sustainability (BST) 1.0-3.0 spectrum. The analysis is settled on survey data collected from leading Russian companies participated in the “Report on Social Investments in Russia” project conducted by the Russian Managers Association from 2008 to 2019. Findings: This paper finds that the BST 2.0 is becoming a dominant model based on the “creating shared value” goal. The related CSP is characterized by their orientation to the principles of the UN Global Compact; by the emergence of a coordinating role for specialized departments of corporate social responsibility (CSR) and/or sustainability; and by the regular sustainability reporting. The SDGs are generally correlated with responsible business practices that are already in existence in companies. The emerging trend towards the advanced BST 3.0 model including the SDGs integration into the main business processes is constrained by the lack of active cooperation between companies. Research limitations/implications: The research sample includes only large Russian companies with a significant industry diversity, participating in the “Report on Social Investments in Russia” project, thereby restricting the analysis of non-participants. The relatively low repetition of participants in this long-term project does also restrict the degree of generalization. Future research could be based on the findings of this paper to create and test hypotheses via a nationwide study of Russian businesses as well as cross-national comparative studies. Practical implications: The analysis of the corporate sustainability model transformation through studying the key CSP framework elements could support Russian companies in creating systemic changes of their principles, processes and outcomes measurements in the context of achieving the UN SDGs. Originality/value: This study contributes to existing literature by combining the corporate sustainability model transformation analysis with the CSP framework. It describes the experience of large Russian companies that publicly position themselves as national leaders in the field of CSR and sustainable development.

KW - Corporate social performance

KW - Corporate social responsibility

KW - Corporate strategy

KW - Corporate sustainability

KW - Russia

KW - Sustainable development goals

KW - SCOPUS

KW - SCOPUS

UR - http://www.scopus.com/inward/record.url?scp=85095702612&partnerID=8YFLogxK

U2 - 10.1108/CG-01-2020-0047

DO - 10.1108/CG-01-2020-0047

M3 - Article

AN - SCOPUS:85095702612

VL - 21

SP - 307

EP - 321

JO - Corporate Governance (Bingley)

JF - Corporate Governance (Bingley)

SN - 1472-0701

IS - 2

ER -