Abstract

Sustainability has evolved beyond a mere buzzword and is now a cornerstone of modern business strategy, particularly in Europe, where the European Green Deal aspires to make the continent climate-neutral by 2050. Policymakers, investors, and corporate leaders increasingly regard strong sustainability performance (SP)—encompassing environmental protection, social responsibility, and good governance (ESG)—as a means to reduce risks and enhance long-term success. Yet, a recent study calls this widely accepted view into question.