Corporate Social Responsibility in Developing and Emerging Markets Institutions, Actors and Sustainable Development
Book contents
- Corporate Social Responsibility in Developing and Emerging Markets
- Corporate Social Responsibility in Developing and Emerging Markets
- Copyright page
- Dedication
- Contents
- Figures
- Tables
- Notes on Contributors
- Foreword
- Endorsement
- Preface
- Table of Cases
- Table of Legislation
- 1 Introduction to Corporate Social Responsibility in Developing and Emerging Markets: Institutions, Actors and Sustainable Development
- Part I Institutions, CSR Conceptualizations and Sustainable Development
- Part II CSR and Sustainable Development Cross-Country Studies
- Part III Normative and Utility Perspectives
- 14 Islamic Finance, Sustainable Development and Developing Countries: Linkages and Potential
- 15 Developing Countries’ Business Schools and Socially Conscious Business Leaders
- 16 Corporate Participation in Climate Change Mitigation in Developing Countries: ‘Green Capitalism’ as a Tool for Sustainable Development
- 17 Ethics Issues in Outsourcing to Emerging Markets: Theoretical Perspectives and Practices
- 18 Promoting Sustainability in Business and Management Education
- 19 Sustainable Finance, the Law and Stakeholders: Towards Responsible Social Movements
- 20 Sustainable Consumption, Consumer Protection and Sustainable Development: Unbundling Institutional Septet for Developing Economies
- 21 Corporate Social Responsibility and Sustainable Development in Developing and Emerging Markets: Looking Forward
- References
16 - Corporate Participation in Climate Change Mitigation in Developing Countries: ‘Green Capitalism’ as a Tool for Sustainable Development
from Part III - Normative and Utility Perspectives
Published online by Cambridge University Press: 18 December 2019
Book contents
- Corporate Social Responsibility in Developing and Emerging Markets
- Corporate Social Responsibility in Developing and Emerging Markets
- Copyright page
- Dedication
- Contents
- Figures
- Tables
- Notes on Contributors
- Foreword
- Endorsement
- Preface
- Table of Cases
- Table of Legislation
- 1 Introduction to Corporate Social Responsibility in Developing and Emerging Markets: Institutions, Actors and Sustainable Development
- Part I Institutions, CSR Conceptualizations and Sustainable Development
- Part II CSR and Sustainable Development Cross-Country Studies
- Part III Normative and Utility Perspectives
- 14 Islamic Finance, Sustainable Development and Developing Countries: Linkages and Potential
- 15 Developing Countries’ Business Schools and Socially Conscious Business Leaders
- 16 Corporate Participation in Climate Change Mitigation in Developing Countries: ‘Green Capitalism’ as a Tool for Sustainable Development
- 17 Ethics Issues in Outsourcing to Emerging Markets: Theoretical Perspectives and Practices
- 18 Promoting Sustainability in Business and Management Education
- 19 Sustainable Finance, the Law and Stakeholders: Towards Responsible Social Movements
- 20 Sustainable Consumption, Consumer Protection and Sustainable Development: Unbundling Institutional Septet for Developing Economies
- 21 Corporate Social Responsibility and Sustainable Development in Developing and Emerging Markets: Looking Forward
- References
Summary
The chapter shows that one way of tackling the problem of weak regulatory systems that allow corporations to ignore environmental sustainability in their business activities is to make corporate investments in environmental sustainability in developing countries economically attractive to the corporations. And in the process enable them to contribute to the achievement of the Sustainable Development Goals in these developing countries, while reaping economic rewards for doing so. ‘Green capitalism’ as a concept merges economic capitalism with green objectives and when appropriately utilised, can be an effective tool for achieving the SDGs in developing countries. This chapter analyses the application of green capitalism in developing countries and how it merges the profit-focus of capitalism with environmental sustainability. Utilising the ‘environment contestation approach’, the chapter examines how ‘green capitalism’ reconciles the notions of free-market enterprise and the sustainable development desired by developing countries. It discusses the regulatory steps needed to prevent potential ‘greenwashing’ by corporations while incentivising increased investments in SDGs-related projects within these jurisdictions. Using available statistics, the chapter examines the success of ‘green bonds’ issuance for environmental projects as a reflection of the increasing reliance on green capitalist tools for achieving the SDGs in developing countries.
Keywords
- Type
- Chapter
- Information
- Corporate Social Responsibility in Developing and Emerging MarketsInstitutions, Actors and Sustainable Development, pp. 315 - 335Publisher: Cambridge University PressPrint publication year: 2019
References
Akyildiz, F. (2006). The Failure of Multinational Companies in Developing Countries in Sharing Environmental Responsibilities: The Case of Turkey. Social Responsibility Journal 2(2), 12.CrossRefGoogle Scholar
Amao, O. (2011). Corporate Social Responsibility, Human Rights and the Law: Multinational Corporations in Developing Countries, London and New York: Routledge.Google Scholar
Anderson, T. L. and Leal, D. R. (1991). Free Market Environmentalism, New York: Palgrave Macmillan.Google Scholar
Apodaca, C. ‘Foreign Aid as Foreign Policy Tool’ (2017). Oxford Research Encyclopedia of Foreign Policy Analysis. http://doi:10.1093/acrefore/9780190228637.013.332.Google Scholar
Bill & Melinda Gates Foundation (2011). Ethics left behind as drug trials soar in developing countries, The Guardian (London, 4 July) www.theguardian.com/global-development/2011/jul/04/ethics-left-behing-drug-trials-developing accessed 6 April 2016.Google Scholar
Barrett, P. (2016). Can ExxonMobil Be Found Liable for Misleading the Public on Climate Change? Bloomberg (New York, 7 September) www.bloomberg.com/news/articles/2016–09-07/will-exxonmobil-have-to-pay-for-misleading-the-public-on-climate-change accessed 12 May 2017.Google Scholar
Catanoso, J. (2014) UNILEVER CEO: We need to do more to fight climate change, Business Insider (New York, 8 December) http://uk.businessinsider.com/unilever-ceo-speaks-on-climate-change-2014–12?r=us&ir=t accessed 28 January 2017.Google Scholar
Clark, P. (2015) Mark Carney warns investors face ‘huge’ climate change losses, Financial Times (London, 29 September), www.ft.com/content/622de3da-66e6-11e5-97d0-1456a776a4f5 accessed 15 October 2016.Google Scholar
Climate Bonds Initiative, ‘Year 2014 Green Bonds Final Report’ (Washington, 2015) www.climatebonds.net/year-2014-green-bonds-final-report-0 accessed 15 March 2016.Google Scholar
Dimitris Tsitsiragos (2016). ‘Climate Change is a threat- and an opportunity- for the private sector’ (World Bank, 13 January) www.worldbank.org/en/news/opinion/2016/01/13/climate-change-is-a-threat–and-an-opportunity–for-the-private-sector accessed 20 May 2016.Google Scholar
Eaton, J. (1997). The Nigerian Tragedy, Environmental Regulation of Transnational Corporations, and the Human Right to a Healthy Environment. Boston University International Law Journal 15, 261.Google Scholar
Environmental Finance (2015). ‘Green bond market to grow by $100bn this year’, www.environmental-finance.com/content/news/green-bond-market-expected-to-grow-by-$100bn-this-year-after-smashing-records-in-2014.html accessed 15 October 2015.Google Scholar
Fialho, D. and Van Bergeijk, Peter A. G. (2017). The Proliferation of Developing Country Classifications. Journal of Development Studies 53(1).Google Scholar
Foster, J. B. and York, R. (2004). Political Economy and Environmental Crisis. Organization & Environment, 17(3), 293–5.CrossRefGoogle Scholar
Friedmann, H. (2005). From Colonialism to Green Capitalism: Social Movements and Emergence of Food Regimes. Research in Rural Sociology and Development 11, 227–64.Google Scholar
Giuliani, E. and Macchi, C. (2014). Multinational Corporations’ economic and Human Rights Impacts on Developing Countries: A Review and Research Agenda. Cambridge Journal of Economics 38(2), 479–517.Google Scholar
Grene, S. ‘The Dark Side of Green Bonds’, www.ft.com/cms/s/0/16bd9a48-0f76-11e5-b968-00144feabdc0.html#axzz42b8cbfzw accessed 13 March 2015.Google Scholar
Hall, S. (2015). Exxon Knew about Climate Change almost 40 years ago, Scientific American (Washington, 26 October) www.scientificamerican.com/article/exxon-knew-about-climate-change-almost-40-years-ago/ accessed 12 May 2017.Google Scholar
Hotten, R. (2015). Volkswagen: The scandal explained, BBC (London, 10 December), www.bbc.co.uk/news/business-34324772 accessed 20 March 2017.Google Scholar
Idemudia, U. ‘Corporate social responsibility and developing countries moving the critical CSR research agenda in Africa forward’ (2011) Progress in Development Studies.Google Scholar
Klein, N. (2008). The Shock Doctrine: The Rise of Disaster Capitalism, London: Penguin.Google Scholar
Kolk, A. and Levy, D. L. (2001).Winds of Change: Corporate Strategy, Climate change and Oil Multinationals. European Management Journal 19(5), 501–9.Google Scholar
KPMG ‘International 2015 Report’.Google Scholar
Levi-Faur, D. (2012). From ‘Big Government’ to ‘Big Governance’ in Levi-Faur, D. ed., The Oxford Handbook of Governance, Oxford: Oxford University Press,pp. 3, 5.CrossRefGoogle Scholar
Mol, A. and Buttel, F., eds., (2002). The Environmental State under Pressure, Amsterdam: Elsevier Science.Google Scholar
Mol, A. and Spaargaren, G. (2000). Ecological modernization theory in debate: A review. Environmental Politics, 9(1), 17–49.CrossRefGoogle Scholar
Nielsen, L. Classifications of Countries Based on Their Level of Development: How It Is Done and How It Could Be Done, IMF Working Paper Strategy, Policy, and Review Department WP/11/31 February 2011.CrossRefGoogle Scholar
Niyonkuru, F. (2016). Failure of Foreign Aid in Developing Countries: A Quest for Alternatives. Business and Economics Journal, 7, 231.Google Scholar
Ong, D. (2015). Regulating Environmental Responsibility for the Multinational Oil Industry: Continuing Challenges for International Law. International Journal of Law in Context, 11(2), 153–73.CrossRefGoogle Scholar
Prudham, S. (2009). Pimping Climate Change: Richard Branson, Global Warming, and the Performance of Green Capitalism. Environment and Planning, 41, 1594–613.CrossRefGoogle Scholar
Pulver, S. (2007). Making Sense of Corporate Environmentalism: An Environmental Contestation Approach to Analyzing the Causes and Consequences of the Climate Change Policy Split in the Oil Industry. Organization & Environment, 20(1), 44–83.Google Scholar
Ravindranath, N. H. and Sathaye, J. A. (2002). Climate Change and Developing Countries. In Climate Change and Developing Countries. Advances in Global Change Research, Dordecht: Kluwer Academic Publishers.Google Scholar
Reichelt, H. and Davies, C. (2015) ‘Getting to Know the Green Bond Market’, World Bank Treasury Department Publication, available at http://treasury.worldbank.org/cmd/pdf/gettingtoknowthegreenbondmarket_pensionfundservice.pdf accessed 23 March 2015.Google Scholar
Rowlands, I. H. (2000). Beauty and the Beast? BP’s and Exxon’s Positions on Global Climate Change. Environment and Planning, 18, 339–54.Google Scholar
Rwabizambuga, A. (2007). Negotiating Corporate Social Responsibility Policies and Practices in Developing Countries: An Examination of the Experiences from the Nigerian Oil Sector. Business and Society Review, 112(3), 407–30.Google Scholar
Sarvajayakesavalu, S. (2015). Addressing Challenges of Developing Countries in Implementing Five Priorities for Sustainable Development Goals. Ecosystem Health and Sustainability 1(7), 1–4.CrossRefGoogle Scholar
Schnaiberg, A., Pellow, D. N. and Weinberg, A. (2002). The Treadmill of Production and the Environmental State. In Mol, A. and Buttel, F., eds., The environmental state under pressure Oxford: Elsevier Science.Google Scholar
Smith, R. (2015). Green Capitalism: The God that Failed, British Columbia, Canada: World Economics Association Book Series.Google Scholar
Sullivan, S. ‘Green capitalism, and the cultural poverty of constructing nature as service provider’ http://eprints.bbk.ac.uk/6016/1/Sullivan,_radical_anthropology_2009.pdf, accessed 21 July 2019.Google Scholar
Thaysen, M. (2018). ‘A handy list of car companies that are ditching diesel’, Greenpeace, 5 October, available at www.greenpeace.org.uk/handy-list-car-companies-ditching-diesel/ accessed 25 October 2018.Google Scholar
Tienhaara, K. (2013). Varieties of Green Capitalism: Economy and Environment in the Wake of the Global Financial Crisis. Environmental Politics, 23(2), 187–204.Google Scholar
UNEP (2015). ‘Inquiry into the Design of a Sustainable Financial System; Policy Innovations for a Green Economy’.Google Scholar
UNEP (2014). ‘Financial Institutions Taking Action on Climate Change’ (Inquiry into the Design of a Sustainable Financial System).Google Scholar
United Nations Framework Convention on Climate Change (UNFCCC) (2015). Conference of the Parties, Twenty-first session, Paris, 30 November to 11 December 2015: Draft decision -/CP.21 FCCC/CP/2015/L.9/Rev.1 https://unfccc.int/resource/docs/2015/cop21/eng/l09r01.pdf accessed 15 January 2017.Google Scholar
Valdmanis, R. and Smith, G. (2016). ‘Several companies that claim to support climate-change initiatives are actually funding climate sceptics’, Business Insider (Reuters, 6 September) available at http://uk.businessinsider.com/r-us-companies-tout-climate-policies-fund-climate-skeptics-2016–9 accessed 1 June 2017.Google Scholar
Visser, W. (2008). Corporate Social Responsibility in Developing Countries. The Oxford Handbook of Corporate Social Responsibility.Google Scholar
Watts, M. (2002).Green Capitalism, Green Governmentality. American Behavioral Scientist, 45, 1313–17.Google Scholar
Windholz, E. (2018). Governing through Regulation: Public Policy, Regulation and the Law, New York, London: Routledge.Google Scholar
World Bank (2014). ‘Climate Change affects the poorest in developing countries’ (Washington, 3 March). www.worldbank.org/en/news/feature/2014/03/03/climate-change-affects-poorest-developing-countries accessed 23 May 2016.Google Scholar
World Economic Outlook (2018). World Economic Outlook October (2018). Challenges to Steady Growth, October, pp. 134–5.Google Scholar
World Energy Council (2016). ‘Defining Measures to Accelerate the Energy Transition’ (World Energy Trilemma 2016, March). www.worldenergy.org/wp-content/uploads/2016/05/World-Energy-Trilemma_full-report_2016_web.pdf accessed 20 October 2017.Google Scholar
York, R., Rosa, E. and Dietz, T. (2003). Footprints on the Earth: The Environmental Consequences of Modernity. American Sociological Review, 279–300.CrossRefGoogle Scholar
- 2
- Cited by