Building a sustainable future: examining the impact of sustainable management on financial performance, climate innovation, and value creation in essential sectors
- Autores: Lara María Quiñoá Piñeiro
- Directores de la Tesis: Ángeles López Cabarcos (dir. tes.), Juan Piñeiro Chousa (dir. tes.)
- Lectura: En la Universidade de Santiago de Compostela ( España ) en 2025
- Idioma: inglés
- Tribunal Calificador de la Tesis: Mercedes Vila Alonso (presid.), Pablo Ramil Rego (secret.), Ana Isabel Machado Lopes Sampaio de Pinho (voc.)
- Programa de doctorado: Programa de Doctorado en Economía y Empresa por la Universidad de Santiago de Compostela
- Materias:
- Enlaces
- Tesis en acceso abierto en: MINERVA
- Resumen
Sustainable development has become one of the most important global goals of our time. Defined in the Brundtland Report in 1987 as development that meets present needs while safeguarding the capacity of future generations to meet their own, numerous efforts have been made to drive a paradigm shift that balances economic growth, environmental protection and social development. Despite notable progress, the effects of prolonged anthropogenic pressure that has exceeded six of the nine known planetary boundaries are becoming increasingly evident and alarming. This is compounded by a 'polycrisis' scenario, marked by the COVID-19 pandemic, geopolitical conflicts that worsen the scarcity of resources and heighten energy and food security challenges, and the intensification of extreme climatic events.
In this context, the need to redirect business efforts towards sustainable objectives can no longer be deferred. Essential sectors, which serve as pillars of economic and social stability, play a central role in this transition. In particular, the biopharmaceutical sector, key in the development of vaccines against COVID-19, alongside the food and beverage sectors and the utilities industry, fundamental to ensuring access to the essential resources addressed by the water-energy-food nexus approach. The vulnerability of these sectors to the impacts of crises and extreme events underscores the urgency of transitioning towards more sustainable business models in order to avoid the collapse of societies and economies.
Despite the increasing academic interest in corporate sustainability, essential sectors have received little attention in the literature, leaving significant knowledge gaps. There is limited understanding of the specific actions companies can implement to balance economic, social and environmental demands. In addition, empirical evidence presents mixed results on the relationship between sustainability and financial performance, with a lack of attention to market-based performance measures and a need to further explore the practices underlying the ESG pillars. Furthermore, the bleak global outlook calls for a deeper understanding of the role of business strategies in managing extreme events and major societal challenges, as well as an exploration of organisational processes and practices capable of creating sustainable value.
Through four complementary studies, this thesis addresses these gaps by providing empirical evidence on how responsible and sustainable corporate management influences financial performance, fosters climate innovation and technologies, and contributes to sustainable value creation in essential sectors. To this end, samples of companies from the biopharmaceutical sector (article 1), the utilities industry (article 2) and the food and beverage production sectors (articles 3 and 4) have been used, with a study period spanning from 2019 to 2022.
The results highlight, first, the role of technological innovation as a mechanism for resilience in the face of global crises. Second, they underline the ability of responsible and sustainable practices to achieve tangible financial benefits and strengthen business resilience, consolidating sustainability as a source of business advantage. Third, they highlight the importance of governance bodies and their commitment to sustainability in fostering climate innovation. Finally, they reinforce the role of business strategy in sustainable value creation.
This doctoral thesis advances knowledge on corporate sustainability, climate innovation, and financial performance within the context of essential sectors, offering specific approaches to facilitate the adoption of more sustainable and resilient business models in an increasingly complex global landscape. The findings provide business managers with guidance for the adoption of responsible and sustainable management strategies that contribute to balancing economic, social and environmental objectives in these sectors. Additionally, they offer valuable information for investors' decision-making processes, as well as for the design of public policies by governments and legislators aimed at fostering a more sustainable global economic development.
