Implementing environmental sustainability engagement into business: sustainability management, innovation and sustainable business models

Companies have emphasized sustainability in recent years, and so debates about environmental sustainability (ES) are focused on how to merge sustainability considerations with traditional business activities. From a theoretical point of view, several different incentives could bring about a continued and real commitment to ES. To take advantage of these incentives, however, companies need to address several challenges that could potentially transform or even reinvent their way of doing business. Based on a review of the scholarly literature on the topic, this chapter discusses the most important challenges companies must face, while examining the emerging managerial tools that can help companies make the appropriate changes. This chapter also focuses on various theoretical frameworks that can help companies address the challenges related to ES. The business community has developed several different approaches that can be used to implement ES engagement policies, including resource efficiency, creating value from waste, and the PSS. However, this is just the beginning. Thanks to technological change and growing recognition of ES issues, further opportunities are expected to emerge in the near future for companies to embrace sustainable BMs.