- List of Figures
- List of Tables
- List of Abbreviations
- List of Contributors
- Retrospective, Perspective, and Prospective: Introduction to the Oxford Handbook on Business and the Natural Environment
- Competitive Strategy and the Environment: A Field of Inquiry Emerges
- International Business and the Environment
- Environmental Entrepreneurship
- The Value of Managing Stakeholders
- Industry Self-Regulation and Environmental Protection
- Environmental Governance
- Business and Environmental Law
- Cognitive Barriers to Environmental Action: Problems and Solutions
- Intergenerational Beneficence and the Success of Environmental Sustainability Initiatives in Organizational Contexts
- Organizational Culture and Environmental Action
- Institutional Approaches to Organizations and the Natural Environment
- Institutional Pressures and Organizational Characteristics: Implications for Environmental Strategy
- Social Movements, Business, and the Environment
- Greener Supply Chain Management
- Closed-Loop Supply Chains
- Industrial Ecology: Business Management in a Material World
- Information Systems, Business, and the Natural Environment: Can Digital Business Transform Environmental Sustainability?
- From Green Marketing to Marketing for Environmental Sustainability
- Why not Choose Green? Consumer Decision Making for Environmentally Friendly Products
- Using Market Segmentation Approaches to Understand the Green Consumer
- Sustainability and Social Responsibility Reporting and the Emergence of the External Social Audits: The Struggle for Accountability?
- Environmental Management, Measurement, and Accounting: Information for Decision and Control?
- Corporate Environmental Financial Reporting and Financial Markets
- Values-Driven and Profit-Seeking Dimensions of Environmentally Responsible Investing
- Environmental Risks and Financial Markets: A Two-Way Street
- Corporate Decision-Making, Net Present Value, and the Environment
- The Relevance of the Natural Environment for Corporate Social Responsibility Research
- Business, Society, and the Environment
- The New Corporate Environmentalism and the Symbolic Management of Organizational Culture
- Critical Perspectives on Business and the Natural Environment
- Approaching Business and the Environment with Complexity Theory
- Beyond the Brave New World: Business for Sustainability
- Looking Back, Thinking Forward: Distinguishing Between Weak and Strong Sustainability
- Enterprise Sustainability 2.0: Aesthetics of Sustainability
- Tomorrow's C-Suite Agenda
- The Third-Generation Corporation
- Capitalism Critique: Systemic Limits on Business Harmony with Nature
Abstract and Keywords
This article evaluates the institutions society uses to mitigate environmental externalities. A unified theory of environmental governance is reviewed, which determines the key players influencing environmental outcomes and their objectives, the institutions within which they interact, and the expected results of their interactions. It incorporates a number of key ideas from political science, and takes initial steps toward integrating non-governmental organizations (NGOs) into the overall theory. Environmental governance includes markets for green products and investments, regulatory relationships, and NGO/corporate engagements. Inducing compliance becomes increasingly difficult as the number of firms covered grows. A full theory of environmental governance must comprise interest-group politics and industrial organization. Markets increasingly provide incentives for companies to green themselves. The penetration of information technology into every crevice of modern life continues to change the set of strategies available to both activists and firms.
Graduate School of Business, Stanford University
David P. Baron is David S. and Ann M. Barlow Professor of Political Economy and Strategy, Emeritus, Graduate School of Business, Stanford University.
Ross School of Business, University of Michigan
Thomas P. Lyon is Dow Professor of Sustainable Science, Technology and Commerce, with joint appointments in the Ross School of Business and the School of Natural Resources & Environment, University of Michigan. He also serves as Director of the Erb Institute for Global Sustainable Enterprise.
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