An in-depth analysis of barriers to corporate sustainability?

Abstract

Establishing sustainable and resilient businesses are among the key drivers behind the unprecedented demand for the transition and transformation of sustainable growth models. Driven by a desire to remain competitive amidst economic turmoil and climate change, organisations are embedding sustainable measures into their long-term goals and strategies. This is demonstrated by developing and implementing Net-Zero targets and associated plans. However, the greatest challenge is whether such momentum will be retained and how organisations can maintain the drive. Although this is a positive move towards climate-related actions from organisations and stakeholders, it is taking longer than anticipated to be realised and actualised. This necessitates the urgency in understanding the intricacies of corporate sustainability matrices. The question as to why attaining a positive climatic state has taken almost half a century needs to be explored when compared to scenarios where the implementation of sustainable related measures has taken less time. This paper provides a review of the barriers that are making sustainability unattractive for corporate organisations. Finance gaps, the complexity of organisational sustainability, reporting frameworks, tools, and procedures coupled with considerable marketing and communication in a business-as-usual environment are key barriers to corporate sustainability. Our findings provide recommendations for policymakers, and stakeholders across the corporate sustainability platform by delivering a holistic approach to overcome the bottlenecks for implementation, action, and monitoring.