BEYOND SUSTAINABILITY: A SYSTEMATIC LITERATURE REVIEW ON CLIMATE CHANGE THROUGH THE LENS OF STAKEHOLDER ORIENTATION
DOI:
https://doi.org/10.7433/s127.2025.05Keywords:
climate change, systematic literature review, stakeholder orientation, sustainabilityAbstract
Frame of the research. The escalating interest in addressing the challenges presented by climate change has led to a significant increase in research within this domain, necessitating a systematic organization. This study provides a comprehensive summary of the expanding realm of climate change research, emphasizing the progression of scholarly exploration over the past 28 years. Additionally, it underscores the importance of examining this evolution from the perspective of stakeholder orientation. This focus is crucial given that stakeholders represent one of the primary forces compelling companies to undertake climate change initiatives.
Purpose of the paper. The purpose of this study was twofold. First, it sought to delineate the intellectual structure of recent climate change management literature. This involved identifying the core themes and dynamic trends that characterize the current state of research in this field. Second, the study aimed to ascertain the primary stakeholders targeted by climate change strategies. By measuring the breadth and depth of firms’ sustainability efforts, it endeavoured to pinpoint and understand the key stakeholder groups that are integral to the deployment of climate change strategies.
Methodology. This comprehensive analysis scrutinized 495 scholarly articles published in leading business management journals from 1995 to 2023. The study aimed to dissect the intellectual framework underpinning contemporary climate change management research, utilizing the Bibliometrix tool for this purpose. To assess the breadth and depth of firms’ sustainability initiatives, a detailed content analysis was performed on the amassed documents, employing the MAXQDA software for rigorous examination.
Results. The findings indicated that the United States, Great Britain, and Australia are leading the charge in climate change research. Key milestones in the field were reached in 2012, 2018, and 2023, marking significant progress in understanding and addressing climate change. Currently, the focal points of research are shifting towards sustainable finance and the assessment of carbon risk, reflecting the evolving priorities in addressing climate change challenges. Finally, depth and breadth metrics revealed a nuanced understanding of stakeholder orientation with climate change strategies.
Research limitations. The limitations of this study deserve careful consideration for future research. First, the complex nature of climate change as a global challenge transcends disciplinary boundaries, making a purely management-focused approach potentially narrow. Second, the lexicon used to outline climate change strategies is in a state of continuous evolution, and the terminology and concepts that define these strategies are likely to expand and change. Finally, while the study used metrics to assess the breadth and depth of companies’ sustainability efforts, there is an opportunity to improve this analysis through the development of a standardized index.
Managerial implications. Bridging the gap between climate change challenges and managerial strategies, this review equips organizations with a strategic framework to enhance their sustainability efforts in alignment with stakeholder expectations.
Originality of the paper. This systematic literature review is pioneering in its comprehensive examination of climate change within the management literature, offering a unique lens through which to evaluate the integration of sustainability into business strategies. By mapping thematic evolution and identifying emerging trends, the review provides new insights into aligning business practices with stakeholder expectations. Moreover, this study represents the first effort to investigate the intricate intersection between climate change and firms’ stakeholder orientation, by measuring the breadth and depth of firms’ sustainability efforts.
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