Search Results (19)

The hospitality industry is a major segment of tourism, which is, in turn, a main economic contributor for many destinations. Sustainable tourism practices are promoted worldwide by international organizations like the United Nations World Tourism Organisation (UNWTO) to assist different countries. Various frameworks such as the Global Reporting Initiative (GRI), the Sustainable Development Goals (SDGs), United Nations Global Compact (UNGC), and environmental indices and management systems such as ISO 14001 are common assessment tools for environmental sustainability. This research reviews the relevance of incorporating environmental and socio-economic factors within hotel operations that may lead to improved transparency and operational effectiveness while guaranteeing adherence to sustainability within the hotel business. Accordingly, a systematic review of environmental sustainability assessments in hotels was carried out. A comprehensive analysis of research articles published between January 2000 and January 2023 by reputed databases ranging from Google Scholar, Scopus, and others, were used to conduct the literature review. A total of 38 papers were examined adhering to the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) standards, and it is worth noting that a significant increase in interest emerged in 2018, especially in Europe and Asia. The review reiterated the relevance and need to use relevant assessment methods and tools that aid in implementing sustainable development strategies to promote tourism-dependent economies, which can serve as a guiding note for varied tourism destinations. It additionally provides valuable knowledge for future directions, whilst improving research methods and incorporating innovative technologies. These advancements are essential as they may guide policy decisions to protect the environment within the hospitality industry. Full article

While Tunisia endorsed the non-binding Global Compact for Migration (GCM), it has not yet ratified the binding International Convention on the Protection of the Rights of All Migrant Workers and Members of Their Families (ICRMW). In view of the overlap and convergence between both instruments and the fact that soft and hard law interact through cross-fertilisation processes, with the result that the boundaries between both become blurred, this article examines the potential of the GCM to reinforce the legal standing of the ICRMW in Tunisia and to pave the way for the attenuation of the obstacles to its ratification. Based on policy documents, interviews and secondary sources, we first conclude that the Compact has a considerable potential to promote the Convention as it created a political dialogue in which the Convention gained attention and visibility. Crucially, the implementation of Objective 6(a) GCM, calling for ratification of international labour instruments, appears to be the first step towards ratification as it resulted in a governmental decision to re-consider the ratification of the ICRMW. Secondly, on the basis of comparative legal analysis, we conclude that reading the ICRMW’s provisions through the lens of corresponding GCM Objectives attenuates the obstacles to ratification of the ICRMW. Our findings exemplify the well-established influential function of soft law as a catalyst supporting hard law by reinforcing its legal standing and by providing an impetus for its endorsement. Both analysis and conclusions are not only relevant for the Tunisian case but also for all other countries that endorsed the GCM but have yet to ratify the ICRMW. Full article

This research aims to analyze the impact of social responsibility (SR) on the performance of 216 European companies from 2017 to 2021. The objective of this research is to determine how the operational, financial, and market performance of companies is influenced by social responsibility practices. The methodology adopted is quantitative in nature, using the estimation of models for panel data. To quantify corporate performance, this study uses the return on assets (ROA), the return on equity (ROE), and finally Tobin’s Q ratio. Additionally, environment, social, and governance (ESG) and United Nations Global Compact (GC) scores are used to quantify SR. Our findings indicate a complex relationship between SR and corporate performance. While SR positively impacts market performance, it negatively affects operational and financial performance. This disparity becomes more pronounced when comparing companies with the highest and lowest SR scores. Further analysis reveals that the environment, social, and governance dimensions of ESG negatively correlate with ROA and ROE, but positively correlate with Tobin’s Q. The GC’s anti-corruption and environment scores exhibit a negative relationship with Tobin’s Q, the human rights dimension negatively correlates with ROE and ROA, and the labor law dimension positively influences ROE. Notably, firm size amplifies these relationships, whereas firm age has a dampening effect. This research offers significant contributions to the literature by providing a comprehensive analysis of the impact of social responsibility on corporate performance based on ESG and GC scores. Full article

Corporate social responsibility (CSR) extends beyond mere profit-seeking to encompass the ethical behavior of a company toward society, mitigating negative and generating positive impacts on the environment, consumers, employees, communities, and all stakeholders. The UN Global Compact (UNGC) is the world’s largest voluntary CSR initiative, and its Communication on Progress (CoP) requirement is a key reporting mechanism that allows participating companies to transparently showcase their progress and efforts regarding CSR. As more and more companies are reporting CSR practices, it is crucial to establish a global, standardized, trusted, accessible, and useful database that can be used by different stakeholders, including the companies themselves in the benchmarking process. This paper examines whether the UNGC CoP can be used as a sustainability benchmarking tool, based on well-established criteria, and compares it with other existing reporting frameworks. Results indicate that the UNGC CoP can be considered a benchmarking tool, being applicable to nearly all phases of the benchmarking process. The study also shows that the CoP stands out regarding other frameworks due to ample coverage of the sustainable development goals (SDGs), number of reporting companies, accessibility to all stakeholders, and consolidation of the information into one platform. Full article

The private sector is part of the United Nations Global Compact, which promotes the voluntary participation of organizations to implement environmental care strategies. The purpose of this article is to examine the performance of Ecuadorian companies in regard to environmental management, especially in the fight against climate change, considering the economic sectors (manufacturing, mining, commerce, construction and services). Figures from the National Institute of Statistics and the Census of Ecuador (2020) are used, including descriptive statistics and cross-tabulations with Cramer’s V index. The results show that approximately 5% of companies had the ISO 14001:2015 certification. In the seven actions against climate change considered, the proportion of companies that did not consider them to be current expenses predominated. Cramer’s V index, for associating the economic sector and the environmental spend, revealed that certain economic sectors (manufacturing and mining) are contributing significantly to environmental management spending in the areas of air, soil, wastewater and waste treatment, while no economic sector dominates the others in areas such as radiation treatment, the use of mineral or energy resources and water resources. Full article

This study aims at describing and characterizing the Human Resources practices (HRPs), as reported by organizations within the framework of the United Nations Global Compact (UNGC). That endeavor was undertaken considering the concept of decent work (DW). Specifically, we intended to analyze and verify to what extent those practices translate and incorporate the concept of DW to build a typology of commitment levels by organizations regarding the values behind UNGC. We conducted a documentary analysis on 40 annual reports of Portuguese organizations’ participants of the UNGC. A qualitative content analysis using NVivo and a descriptive and cluster analysis based on coding similarity were performed. One output of this research is the design of a maturity typology of adhesion to the UNCG. Four levels were identified, reflecting expressed concerns with DW concepts and the UNGC Ten Principles and its integration into HRP. This research reflects the concerns of Human Resources Management (HRM) with the wellbeing, development, and conditions of employees and may support the design of future research and interventions, leading to more responsible and ethical HRM practices. Full article

Businesses are actively integrating sustainability principles into their operations by pursuing goals that go beyond reputation management, which all help companies capture value through growth and return on investment. This study aimed to investigate the current status of the Sustainable Workplace Equality Policy (SWEP) in an emerging country—Kuwait—and how it impacts firms’ financial and market performance. This study included companies listed in the Kuwait Boursa (Boursa Kuwait is the operator of the Kuwait Stock Exchange) in the period between 2016 and 2021. A disclosure index was prepared for SWEP based on guidelines provided by a combination of various sources and standards such as the Global Reporting Initiatives (GRI) Standard, S&P Global Corporate Sustainability Assessment, Dow Jones Sustainability Index, United Nations Global Compact, and KPMG Sustainability Reporting Standards. Time series regression analysis was used to examine the hypotheses of this study which were developed using Rawls’ Theory of Justice (1971). The results revealed a strong positive relationship between SWEP disclosure and firm measures of financial performance. The results also indicate that SWEP is value-relevant and affects firms’ market value, suggesting that investors consider firms’ disclosure of SWEP when making investment decisions in Kuwait. The results of the current study are of interest to several stakeholders, especially investors and policymakers. Specifically, this study is relevant to the Kuwaiti Government, which has defined a clear path for sustainable growth with the Vision 2035/New Kuwait initiative that is aimed at transforming the country into a financial and commercial hub for the region by 2035. Full article

The present study investigates the decision-making process of investors on the Pakistan Stock Exchange with regard to portfolio construction, explicitly focusing on the incorporation of ESG concerns. A quantitative research approach has been implemented for this paper. The hypotheses have been developed and tested through the adapted questionnaires. The data were collected from individual Pakistani investors. The present study employed SmartPLS-SEM to quantitatively assess data received from a sample of 421 out of 500 respondents. Based on the available data, investors participating in the Pakistan Stock Exchange are notably impacted by ESG aspects. The findings of this study hold significance for emerging economy firms, regulators, and investors, in terms of both theoretical and practical ramifications. The study’s findings demonstrate a clear indication of investors’ significant emphasis on ESG matters. This research made a significant contribution to the field of behavioural finance with a focus on ESG-related issues. This work contributes to the literature on ESG elements by using the Theory of Planned Behaviour (TPB) to adapt the ESG components from the United Nations Global Compact (UNGC) and Thomson Reuters Corporate Responsibility Index (TRCRI). Furthermore, it provides valuable insights for stakeholders who are involved in the ever-evolving realm of sustainable finance within developing countries. Full article

Achieving the global electricity demand and meeting the United Nations sustainable development target on reliable and sustainable energy supply by 2050 are crucial. Portable energy storage (PES) units, powered by solid-state battery cells, can offer a sustainable and cost-effective solution for regions with limited power-grid access. However, operating in high-dust and high-temperature environments presents challenges that require effective thermal management solutions. This paper is a comprehensive review of thermal management systems for PES units, with a specific focus on addressing the challenge of overheating in airtight designs. The review of various active and passive cooling systems is conducted through extensive study of the relevant literature, which is significant in providing insights into the operation, performance parameters, and design options for different cooling system technologies. The findings from this review show heat pipe (HP) technologies as key cooling-system solutions for airtight PES units. Specifically, loop and oscillating HPs, as well as the vapour chamber, offer desirable features such as compactness, low cost, and high thermal conductivity that make them superior to other alternatives for the cooling systems in PES. The insights and knowledge generated via this review will help facilitate the design and development of innovative, efficient, and reliable PES units, thereby contributing to the advancement of off-grid renewable energy applications and enabling sustainable power solutions worldwide. Furthermore, an appropriate design of PES units can help in reducing capital and maintenance costs. Full article

This study empirically assesses the impact of nonprofit organizations (NPOs) on multi-actor global governance initiatives. Multi-actor global governance initiatives have emerged to strengthen joint action among different societal actors to tackle transnational social and environmental issues. While such initiatives have received a great deal of academic attention, previous research has primarily focused on businesses’ perspectives. In light of the important role of NPOs within such initiatives, critically addressing NPOs’ role by assessing their impact on the effectiveness of such initiatives is crucial. This article builds on the United Nations Global Compact (UNGC)—the largest multi-actor global governance initiative in the world—and offers a panel analysis on a unique dataset including 820 NPOs from 68 different countries. The findings suggest that NPOs have indeed strengthened the UNGC over time, yet their engagement explains only a small fraction of differences in UNGC activity across countries. This study contributes to the emerging research on nonprofits’ social responsibility by fostering the actorhood thesis, which places higher responsibility for the impact and requirements for accountability on NPOs. Furthermore, the study supports discussions about the increasing political role of NPOs by providing the first empirical evidence for their political leadership and impact in multi-actor global governance initiatives. Full article

Candida auris is an emerging fungal pathogen considered as a global health threat. Recently there has been growing concern regarding drug resistance, difficulty in identification, as well as problems with eradication. Although outbreaks have been reported throughout the globe including from several Arab countries, there were no previous reports from Lebanon. We herein report the first cases of C. auris infection from the American University of Beirut Medical Center, a tertiary care center in Lebanon describing the clinical features of the affected patients in addition to the infection control investigation and applied interventions to control the outbreak. Fourteen patients with C. auris infection/colonization identified using MALDI-TOF and VITEK 2- Compact system were reported over a period of 13 weeks. Patients were admitted to four separate critical care units. All of them came through the emergency room and had comorbid conditions. Half of the patients were infected with COVID-19 prior to isolation of the C. auris. C. auris was isolated from blood (two isolates), urine (three isolates), respiratory tract (10 isolates) and skin (one isolate). All the patients had received broad spectrum antibiotics prior to isolation of C. auris. Six patients received antifungal treatment, while the remaining eight patients were considered colonized. Environmental cultures were taken from all four units and failed to isolate the organism from any cultured surfaces. A series of interventions were initiated by the Infection Prevention and Control team to contain the outbreak. Rapid detection and reporting of cases are essential to prevent further hospital transmission. A national standardized infection control registry needs to be established to identify widespread colonization. Full article

The aim of this study was to improve the understanding of the factors determining a firm’s affiliation with the United Nations Global Compact (UN GC) as the largest voluntary corporate responsibility initiative worldwide. Drawing on the board perspective of the firm, this paper examines the effect of gender diversity and the mediating effect of the existence of a corporate social responsibility (CSR) committee. To test the paper’s objectives, the authors use an international sample of analysis of 29,951 firm-year observations from 2012 to 2018. The results suggest that female directors on the board significantly encourage the firm’s affiliation with the UN GC and support the mediating effect of the existence of a CSR committee. Therefore, the positive impact of female directors on UN GC signatories appears to be mediated by the existence of a CSR committee. Full article

With its Global Compact, the United Nations (UN) called companies to align strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, while settling and pursuing the seventeen UN Sustainable Development Goals (SDGs). Achieving SDGs in business reporting is part of the lively debate in the literature about the ability of nonfinancial reporting in providing stakeholders with useful and value-relevant information about companies’ behaviors. This paper intends to address this issue in the aftermath of the recent European Union EU policy (Directive 95/2014/EU) of mandating companies to disclose nonfinancial information (NFI) according to some of the SDGs matters. To this end, the Italian context was analyzed, and main findings provide some early evidence of the absence of association between NFI and financial/market performance. At the same time, the positive association between companies’ Beta factor and size and NFI is supported. This implies that stakeholders still do not appreciate NFI reported according to the new rules and probably that more time is needed to assess the possible advantages of an improved regulation about NFI. However, results show that larger companies and/or companies with higher risk profiles (Beta) have already started to improve their NFI. Full article

Since 2016, the United Nations Global Compact (UNGC), one of the most prominent worldwide corporate social responsibility and sustainability initiatives, has been linked to the Sustainable Development Goals (SDGs). However, despite the enormous scholarly interest in the UNGC since the very beginning, its impact on the integration of the SDGs into the business activities, risk management and reporting of its participants remains understudied. This paper examines support and action for the SDGs among companies from the Visegrad Four (V4) countries. It attempts to find out whether the recent UNGC efforts result in their mobilisation towards the SDGs’ implementation or merely creates a new space for instrumental adoption to improve image and reputation. The paper adopts qualitative content analysis of 42 Communications of Progress (COPs), submitted by 25 companies from the V4 in 2017–2019. The related self-assessments in the UNGC Participation Database were also used. It reveals that the companies obviously fulfil their obligation to report their activities related to SDGs but fail to provide relevant details. Moreover, divergences between the challenges faced by V4 countries and the priorities of the companies related to individual SDGs are also identified. This raises serious concerns about the UNGC’s practical effects. Full article

Organizations can play a significant role in the advancement of Sustainable Development, and companies with Quality, Environmental, and Occupational Health and Safety (QEOHS)-certified management systems address the three Sustainability Dimensions (economic, environmental, and social). This research aims to map the present level of engagement of those companies in contributing and reporting to the 17 Sustainable Development Goals (SDG) of the United Nations (UN) 2030 Agenda. By publicly disclosing their sustainability reports on their institutional websites, they can, therefore, support this agenda implementation. The content of the company reports that were available by 31 December 2017 in the institutional websites, from a total of 235 Portuguese organizations with QEOHS-certified management systems was analyzed. The results show a moderate reporting of SDGs by those companies, with the top five being SDG 12—Responsible consumption and production (23.8%); SDG 13—Climate action (22.1%); SDG 09—Industry, innovation, and infrastructure (21.3%); SDG 08—Decent work and economic growth (20.0%); and SDG 17—Partnerships for the goals (19.6%). The results of the statistical tests indicate that the communication of SDGs is more prominent in organizations (QEOHS) with the following characteristics: have a high business volume, are members of the United Nations Global Compact Network Portugal, and disclose their sustainability reports on their website. This study can be useful for both managers and decision makers who aim to support organizations in contributing to the Sustainable Development Goals and achieving a better and sustainable future for all. Full article