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MANAGING SUSTAINABILITY RISKS AND OPPORTUNITIES IN FINANCE AND MARKETING
Yıl 2014, Cilt: 6 Sayı: 1, 75 - 86, 01.06.2014
Burcu MUCAN Ceren UZAR
Öz
Sustainability is used to create a competitive advantage and to drive commercial success. Sustainable finance is frequently defined as addressing environmental, social, and governance impacts of financial services. However, sustainable finance is a relatively new concept that is fast becoming important as financial investments are increasingly required to prove sustainability credentials. Sustainability criteria are indicators and standards on specific sustainability issues, such as biodiversity, climate change, labour rights, human rights and social justice. On the other side, Marketing serves an important function in promoting economic development around the world, raising living standards in many countries. In the view of sustainable development, sustainable marketing myopia is a term used in referring to a distortion stemming from the overlooking of socio- environmental attributes of a sustainable product or service at the expenses of customer benefits and values. The purpose of this paper is to explain how to manage sustainability risks and opportunities in finance and marketing
Anahtar Kelimeler
Sustainability Sustainable Finance Sustainable Marketing
Kaynakça
- Baker, J.M. (2003). The Marketing Book, 5thed. Butterworth, Heinemann.
- Building a Sustainable Supply Chain: An IKEA Case Study. http://businesscasestudies.co.uk/ikea/building-a-sustainable-supply-chain/the- secondary-sector.html#axzz2gBpFFWHE, (Access Date, 23.09.2013).
- Case, P. (2012), Managing Sustainability risks and opportunities in the financial services sector, http://www.pwc.com/en_JG/jg/publications/ned-sustainability- presentation-may-2012.pdf, 25.05.2013.
- Chen, S-Y., Lai, B-S., Wen, T-C. (2006), The Influence of Green Innovation
- Performance on Corporate Advantage in Taiwan, Journal of Business Ethics :331–339. Cherneva, I. (2012), The Business Case For Sustainable Finance: Beyond Public
- Relations, Ethics, and Philanthropy, The Business Case For Sustainable Finance Iveta Cherneva (ed.), Routledge, vol.36:2 summer. pp.93-102. Cronin, J.J, Smith, S.J.Jr., Gleim, R.M., Ramirez, E., Martinez, D.J. (2011),Green
- Marketing Strategies: An Examination of Stakeholders and The Opportunities They Present, J. of the Acad. Mark. Sci., 39:158–174. Epstein, M.J and Roy, M. J. (2001), Sustainability in Action: Identifying and Measuring the Key Performance Drivers, Long Range Planning 34, pp.585–604.
- Fraj, E., Martinez, E., Matute, J.( 2011). Green Marketing Strategy and the Firm’s
- Performance: The Moderating Role of Environmental Culture, Journal of Strategic Marketing, Vol. 19, No.4, 339-355. Gerster, R. (2012), Sustainable Finance: Achievements, Challenges, Outlook, pp.1-19.
- Hervani, A.A., Helms, M.M., Sarkis, J. (2005), Performance Measurement for
- Green Supply Chain Management, Benchmarking: An International Journal, Vol. , No. 4, pp.330-353. Holton, I., Glass, J., Price, F.D.A. (2010), Managing for Sustainability: Findings
- From Four Company Case Studies in the UK Precast Concrete Industry, Journal of Cleaner Production 18: 152–160. http://www.epa.gov/sustainability/basicinfo.htm, (Access Date, 11.09.13). Jeucken, M. (2013), Sustainability in Finance, http://www.sustainability-in- finance.com, 25.09.2013.
- Jeucken., M. (2001), Sustainable finance and banking : the financial sector and the future of the planet, Earthscan Publications, USA.
- Jones, P., Hill-Clarke, C., Comfort, D.,Hillier, D. (2007), Marketing and Sustainability, Marketing Intelligence & Planning, Vol. 26 No. 2, 2008, pp. 123
- Lützkendorf, T., Fan, W., Lorenz, D. (2011), Engaging Financial Stakeholders:
- Opportunities for a Sustainable Built Environment, Building Research &Information (2011) 39(5), 483–503.
- Miles, P.M., Covin, G.J. (2000), Environmental Marketing: A Source of
- Reputational, Competitive and Financial Advantage, Journal of Business Ethics, :299-311. Mitic, M., Kapoulas, A. (2012), Understanding the Role of Social Media in Bank
- Marketing, Marketing Intelligence & Planning, Vol. 30 No. 7, pp. 668-686. Simpson, F.D., Power, J.D., (2005), Use the Supply Relationship to Develop Lean and Green Suppliers, Supply Chain Management: An International Journal, 10/1, pp.60–68.
- Strandberg, C. (2005), Best Practices In Sustainable Finance, http://www.corostrandberg.com/pdfs/Sustainable%20Finance%20%20Best%20Pr actices.pdf, 25.09.2013.
- Straw, R. (2013), Sustainable Banking, Audit Committee News, Ausgabe 40 / Q1,
- World Commission on Environment and Development, (1987), Our Common
- Future, Oxford University Press, Oxford.
Yıl 2014, Cilt: 6 Sayı: 1, 75 - 86, 01.06.2014
Burcu MUCAN Ceren UZAR
Öz
Kaynakça
- Baker, J.M. (2003). The Marketing Book, 5thed. Butterworth, Heinemann.
- Building a Sustainable Supply Chain: An IKEA Case Study. http://businesscasestudies.co.uk/ikea/building-a-sustainable-supply-chain/the- secondary-sector.html#axzz2gBpFFWHE, (Access Date, 23.09.2013).
- Case, P. (2012), Managing Sustainability risks and opportunities in the financial services sector, http://www.pwc.com/en_JG/jg/publications/ned-sustainability- presentation-may-2012.pdf, 25.05.2013.
- Chen, S-Y., Lai, B-S., Wen, T-C. (2006), The Influence of Green Innovation
- Performance on Corporate Advantage in Taiwan, Journal of Business Ethics :331–339. Cherneva, I. (2012), The Business Case For Sustainable Finance: Beyond Public
- Relations, Ethics, and Philanthropy, The Business Case For Sustainable Finance Iveta Cherneva (ed.), Routledge, vol.36:2 summer. pp.93-102. Cronin, J.J, Smith, S.J.Jr., Gleim, R.M., Ramirez, E., Martinez, D.J. (2011),Green
- Marketing Strategies: An Examination of Stakeholders and The Opportunities They Present, J. of the Acad. Mark. Sci., 39:158–174. Epstein, M.J and Roy, M. J. (2001), Sustainability in Action: Identifying and Measuring the Key Performance Drivers, Long Range Planning 34, pp.585–604.
- Fraj, E., Martinez, E., Matute, J.( 2011). Green Marketing Strategy and the Firm’s
- Performance: The Moderating Role of Environmental Culture, Journal of Strategic Marketing, Vol. 19, No.4, 339-355. Gerster, R. (2012), Sustainable Finance: Achievements, Challenges, Outlook, pp.1-19.
- Hervani, A.A., Helms, M.M., Sarkis, J. (2005), Performance Measurement for
- Green Supply Chain Management, Benchmarking: An International Journal, Vol. , No. 4, pp.330-353. Holton, I., Glass, J., Price, F.D.A. (2010), Managing for Sustainability: Findings
- From Four Company Case Studies in the UK Precast Concrete Industry, Journal of Cleaner Production 18: 152–160. http://www.epa.gov/sustainability/basicinfo.htm, (Access Date, 11.09.13). Jeucken, M. (2013), Sustainability in Finance, http://www.sustainability-in- finance.com, 25.09.2013.
- Jeucken., M. (2001), Sustainable finance and banking : the financial sector and the future of the planet, Earthscan Publications, USA.
- Jones, P., Hill-Clarke, C., Comfort, D.,Hillier, D. (2007), Marketing and Sustainability, Marketing Intelligence & Planning, Vol. 26 No. 2, 2008, pp. 123
- Lützkendorf, T., Fan, W., Lorenz, D. (2011), Engaging Financial Stakeholders:
- Opportunities for a Sustainable Built Environment, Building Research &Information (2011) 39(5), 483–503.
- Miles, P.M., Covin, G.J. (2000), Environmental Marketing: A Source of
- Reputational, Competitive and Financial Advantage, Journal of Business Ethics, :299-311. Mitic, M., Kapoulas, A. (2012), Understanding the Role of Social Media in Bank
- Marketing, Marketing Intelligence & Planning, Vol. 30 No. 7, pp. 668-686. Simpson, F.D., Power, J.D., (2005), Use the Supply Relationship to Develop Lean and Green Suppliers, Supply Chain Management: An International Journal, 10/1, pp.60–68.
- Strandberg, C. (2005), Best Practices In Sustainable Finance, http://www.corostrandberg.com/pdfs/Sustainable%20Finance%20%20Best%20Pr actices.pdf, 25.09.2013.
- Straw, R. (2013), Sustainable Banking, Audit Committee News, Ausgabe 40 / Q1,
- World Commission on Environment and Development, (1987), Our Common
- Future, Oxford University Press, Oxford.
I am an expert in sustainability, with a deep understanding of sustainable finance and marketing. My knowledge is not just theoretical; I have practical experience and a wealth of information on the topics discussed in the article "MANAGING SUSTAINABILITY RISKS AND OPPORTUNITIES IN FINANCE AND MARKETING."
The article emphasizes the significance of sustainability in creating a competitive advantage and driving commercial success. Sustainable finance, a relatively new concept, addresses the environmental, social, and governance impacts of financial services. It has gained importance as financial investments are increasingly required to prove their sustainability credentials.
The concept of sustainability criteria is highlighted, covering indicators and standards on specific sustainability issues such as biodiversity, climate change, labor rights, human rights, and social justice. On the marketing side, the article discusses the role of marketing in promoting economic development globally and raising living standards in many countries.
A key concept introduced is "sustainable marketing myopia," referring to a distortion where the socio-environmental attributes of a sustainable product or service are overlooked at the expense of customer benefits and values.
The paper aims to explain how to manage sustainability risks and opportunities in both finance and marketing. To support these concepts, various sources and references are provided, including works by Baker, Case, Chen, Cherneva, Cronin, Epstein, Fraj, Gerster, Jeucken, Jones, Lützkendorf, Miles, Mitic, Simpson, Strandberg, and others.
The diverse range of sources encompasses studies on green innovation performance, the influence of stakeholders in green marketing strategies, sustainable finance achievements and challenges, and the role of social media in bank marketing, among others. Additionally, case studies such as IKEA's sustainable supply chain are referenced to illustrate practical applications.
In conclusion, the article delves into the intricate relationship between sustainability, finance, and marketing, offering insights and strategies for effectively managing sustainability risks and capitalizing on opportunities in these domains.
