Article2024

The role of entrepreneurship in alleviating ESG backlash and advancing sustainability

4 citations0/0 files storedJournal of the International Council for Small Business

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Sustainability and Innovation in Business Corporate Social Responsibility Reporting Corporate Social Responsibility and Sustainability

Abstract

Entrepreneurship plays a pivotal role in defusing backlash against environmental, social, and governance (ESG) initiatives and advancing sustainability. This review explores the role of entrepreneurship in mitigating ESG opposition and promoting sustainable development. A systematic review utilizing online databases resulted in a shortlist of 499 articles, of which 62 were selected using the preferred reporting items for systematic reviews and meta-analyses 2020 flowchart. The findings highlight the barriers companies face in adopting ESG practices, such as shareholder returns and company valuation, and describe successful strategies to overcome these obstacles. They also explore how entrepreneurial innovation can transform ESG backlash into opportunities for growth and positive impact. Entrepreneurs can drive systemic change and contribute to a more sustainable and equitable global economy by enhancing transparency, fostering stakeholder trust, and integrating long-term sustainability goals. The review concludes with practical strategies for entrepreneurs to navigate the complexities of ESG integration in the future.

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1991Firm Resources and Sustained Competitive Advantage 1983The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality in Organizational Fields 2010Strategic management a stakeholder approach 2006Corporate Social Responsibility: Strategic Implications*2021Firms and social responsibility: A review of ESG and CSR research in corporate finance 2005Toward a theory of sustainable entrepreneurship: Reducing environmental degradation through entrepreneurial action 2005Market imperfections, opportunity and sustainable entrepreneurship 2011Scrutiny, Norms, and Selective Disclosure: A Global Study of Greenwashing

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