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New research on environmental sustainability from Harvard Business School faculty on issues including the role of companies to mitigate climate change, corporate social responsibility, reporting to stakeholders, government relations and development of Chief Sustainability Officers.
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Corporate Sustainability: A Strategy?

by Ioannis Ioannou and George Serafeim

Between 2012 and 2017, companies within most industries adopted an increasingly similar set of sustainability practices. This study examines the interplay between common and strategic practices. This dynamic distinction helps for understanding whether and how sustainability practices can help companies establish a competitive advantage over time.

Financing the Response to Climate Change: The Pricing and Ownership of US Green Bonds

by Malcolm Baker, Daniel Bergstresser, George Serafeim, and Jeffrey Wurgler

Green bonds are used for environmentally friendly purposes like renewable energy. Complementing previous research, this paper explores the US corporate and municipal green bond and shows that a subset of investors is willing to give up some return to hold green bonds.

How Companies Can Increase Market Rewards for Sustainability Efforts

by Rachel Layne

There is a connection between public sentiment about a company and how the market rewards its corporate social performance, according to George Serafeim. Is your company undervalued? Open for comment; Comment(s) posted.

What’s the Best Administrative Approach to Climate Change?

by James Heskett

SUMMING UP: James Heskett's readers point to examples of complex environmental problems conquered through multinational cooperation. Can those serve as roadmaps for overcoming global warming? Open for comment; Comment(s) posted.

8 Ways to Make Olympic Stadiums Useful After the Games End

by Julia Hanna

For many cities that host the Olympic Games, the central stadium is nothing more than a white elephant after the competition ends. Stephen A. Greyser and Isao Okada pinpoint actions cities can take to give them new life. Open for comment; Comment(s) posted.

Public Sentiment and the Price of Corporate Sustainability

by George Serafeim

Public opinions from industry experts are important in the economy but it has not been clear how they affect the valuation of and returns to corporate activities. Using big data and machine learning, this paper analyzes how public sentiment influences the market pricing of firms’ sustainability activities and thereby the future stock returns of portfolios that integrate environmental, social, and governance data.

Should US Companies Still Care About the Paris Climate Change Agreement?

Re: Vincent Pons

American President Donald Trump pulled out of the 2015 Paris agreement on climate change one year ago. Vincent Pons discusses what it means for US business leaders in confronting environmental challenges. Open for comment; Comment(s) posted.

Sustainability and Green Business in Latin America During Globalization Waves

by Geoffrey Jones

Capitalism has created much wealth, but at the cost of massive ecological destruction. This has been particularly severe in Latin America over the past century. Yet the last three decades have also seen a wave of businesses across sectors ranging from beauty to eco-tourism aimed at greater sustainability.

Has Environmental Sustainability Lost its Relevance?

by Geoffrey G. Jones

Companies have thought for decades about business-focused solutions to fix the deteriorating environment. But judging by continually rising waters and temperatures, we may need a rethink about what sustainability means, suggest participants at a recent conference at Harvard Business School. A report by co-organizer Geoffrey Jones. Open for comment; Comment(s) posted.

How a Coal Polluter Became a Renewable Energy Leader

Re: Mark R. Kramer

Enel, Italy’s state-owned power company, was one of Europe’s largest coal users and polluters. Now it is recognized as a leader in renewable energy services. Mark Kramer discusses how CEO Francesco Starace drove the huge strategy shift. Open for comment; Comment(s) posted.

Smart Cities are Complicated and Costly: Here's How to Build Them

by John Macomber

When governments take on a smart city project, it's often the private sector that's left to execute the vision—sometimes at the expense of good public policy. John Macomber proposes a roadmap that considers situation, solution, and sovereignty. Open for comment; Comment(s) posted.

Op-Ed: Why Private Investors Must Fund 'New Nuclear' Power Right Now

by Joseph Lassiter

Joseph Lassiter has high hopes for “new nuclear” technology, which he believes can meet the world’s urgent demand for power. But its success requires big, immediate investments from the private sector. Open for comment; Comment(s) posted.

8 Ways To Be An Environmentally Conscious Manager

by Sean Silverthorne

What does it mean to bring your individual environmental values to work every day? Here's how eco-friendly managers can practice what they preach. Open for comment; Comment(s) posted.

Business and Sustainability: New Business History Perspectives

by Ann-Kristin Bergquist

This paper provides a long-term business history perspective on sustainability, arguing that it is now matter of urgency to make sustainability a mainstream topic in business history.

Should Industry Competitors Cooperate More to Solve World Problems?

by Sean Silverthorne

George Serafeim has a theory that if industry competitors collaborated more, big world problems could start to be addressed. Is that even possible in a market economy? Open for comment; Comment(s) posted.

Investors as Stewards of the Commons?

by George Serafeim

This paper lays out a framework suggesting that index investors and adequately funded asset owners are a potential mechanism to build and sustain pre-competitive collaborations for addressing environmental and social issues. With long time horizons and significant common ownership of companies within the same industry or supply chain, investors could serve as vehicles for the establishment and/or stability of collaborations between companies.

Can Innovation Save Us From Ourselves?

by James Heskett

SUMMING UP Can technology save the world from its most pressing problems? James Heskett's readers aren't overly optimistic. Open for comment; Comment(s) posted.

Meet the Oddball Entrepreneurs Who Invented Green Businesses

by Sean Silverthorne

Historians have hardly noticed the fringe-of-society entrepreneurs who gave birth to the green business movement starting in the 19th century. In a new book, Profits and Sustainability: A History of Green Entrepreneurship, Geoffrey Jones chronicles the pioneers of healthy food, alternative energy, and alternative living. Open for comment; Comment(s) posted.

Stock Price Synchronicity and Material Sustainability Information

by Jody Grewal, Clarissa Hauptmann, and George Serafeim

This paper seeks to understand and provide evidence on the characteristics of emerging accounting standards for sustainability information. Given that a large number of institutional investors seek sustainability data and have committed to using it, it is increasingly important to develop a robust accounting infrastructure for the reporting of such information.

More Than 900 Examples of How Climate Change Affects Business

by Carmen Nobel

MBA students participating in Harvard Business School’s Climate Change Challenge offer ideas on how companies can negate impacts from a changing environment. Open for comment; Comment(s) posted.