Abstract
This thesis presents a collection of studies conducted during the doctoral program, focusing on the assessment of ESG practices and performance. The research aims to analyze various ESG tools, practices, and metrics to evaluate corporate sustainability performance, contributing to the advancement of knowledge in the field and supporting more informed decision-making in sustainability management. Confronting the sustainable transition, companies today grapple with challenges such as balancing trade-offs and determining effective strategies to manage sustainability. This study tackles this issue by analyzing different streams of literature on the topic of sustainability management and measurement. The studies have been conducted in a three-year period and include a systematic literature review on the topic of sustainability reporting and the standard of the Global Reporting Initiative, a secondary data analysis on the impact of ESG controversies on ESG practices uptake, a multiple case study on circular economy assessment tools applied to Italian Small and Medium Enterprises and finally a quantitative study on the social sustainability issue of conflict minerals. From the outcomes of the thesis’ studies and comparing them with past research on the topic, an overview of existing practices, tools and performance is provided and a framework for better guiding companies’ decisions for sustainability management and assessment is created. The findings inform companies to follow some critical steps that include the consideration of external factors through a systemic view of the issue and of the company’s strategic direction. The tools and corporate sustainability approach analyzed are still entrenched in a reductionist view of sustainability, therefore hints to adopt a more holistic vision are suggested. This work offers different theoretical and practical implications. Regarding the thesis’ implications more generally, it advances corporate sustainability management by breaking down sustainability dimensions and practices through a final framework, which classifies sustainability practices and performance. Subsequently, the thesis offers a set of actionable guidelines for systemic decision-making and aligning tools with organizational strategy. Emphasizing a flexible and systemic approach, the findings highlight the importance of managing trade-offs, external contingencies, and interlinked dimensions of sustainability. Common pitfalls, such as disconnected objectives and human bias, are addressed, with recommendations for aligning tools with strategic considerations. These aspects and a systemic view of sustainability management and assessment are often neglected in the literature, thus including them in a single work contributes to advancing the state-of-the-art in sustainability management and assessment. On the other hand, regarding the specific essays, this research bridges theory and practice, providing insights for future studies and practical applications. From a theoretical perspective, the essays discuss and enrich often neglected theories in the sustainability domain, such as prospect theory and the theory of the nexus supplier. Furthermore, from the practitioners’ point of view, it provides a critical analysis of existing tools, including sustainability reporting, ESG scores, circular economy assessments, and due diligence frameworks for conflict minerals, providing them with an overview and allowing them to avoid a ”tick-the-box” mindset.