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Sustainability and financial performance: the chicken or the egg dilemma

Sustainability and financial performance: the chicken or the egg dilemma

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Published by Romeu Gaspar
There is a clear link between corporate sustainability and financial results, but which one is the trigger? Well, the link can actually run both ways.
There is a clear link between corporate sustainability and financial results, but which one is the trigger? Well, the link can actually run both ways.

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Published by: Romeu Gaspar on Mar 04, 2013
Copyright:Attribution Non-commercial

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11/29/2013

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Sustainability and financial performance: thechicken or the egg dilemma
 
January
2013
 
www.thisisxy.com
 
 
X&Y Partners
Sustainability and financial performance: the chicken or the egg dilemma
2
Contacts:
Romeu Gasparromeu.gaspar@thisisxy.comUK: +44 (20) 3239 5245 | PT: +351 210 961 834Skype: xypartners
 
X&Y Partners
Sustainability and financial performance: the chicken or the egg dilemma
3
Sustainability and financial performance: the
chicken or the egg dilemma
 
There is a clear link betweencorporate sustainability andfinancial results, but whichone is the trigger? Well, thelink can actually run bothways.
Little doubt remains about thecorrelation between improvedsustainability practices and better financial results: Exhibit 1 compiles theresults of close to 160 researchpapers, most of which found a positivecorrelation between these twobenefits. But which one is the trigger?In other words, do better sustainabilitypractices lead to improved financialresults, or does the availability of fundslead to increased investments insustainability? In this article weexplore the issue of causality betweensustainability and financialperformance, and what it means for various stakeholders.The relationship between sustainabilityand financial performance is acomplex one. To begin with, there isnot a standard metric for measuringsustainability, since it covers a broadnumber of socio-economic andenvironmental issues. Financialperformance, although narrower inscope, can also be measured indifferent ways, from share price toprofits. Even after selecting concrete
Exhibit 1 –
Results of 159 studies from 1972 to 2008, analyzing the correlation between

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