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Proceedings of the International Academy of Ecology and Environmental Sciences, 2022, 12(4): 367-399
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Article

The Quintuple Bottom Line: Sustainability as told by academics and as experienced by companies in the European Union and the U.S.A

Maria Silvia Avi
Management Department-Ca'Foscari Venice, S. Giobbe-Cannaregio 873-30121 Venice, Italy

Received 8 September 2022;Accepted 25 September 2022;Published online 1 October 2022;Published 1 December 2022
IAEES

Abstract
Sustainability represents a hotly debated topic at the scientific, doctrinal, social and political levels. We often hear or can read that sustainability, although not implemented by various categories of entities, physical or legal, is very widespread thanks to the communication that has been implemented in recent years. A survey of 22,000 unlisted small, medium and large companies located in the 27 states of the European Union and the 51 states of the U.S.A sought to ascertain whether what is said or read about sustainability is true. The results confirm how there is a huge gap between what is written about sustainability and what companies implement regarding this issue. From the above-mentioned research it could be seen that many companies implement socalled green washing by carrying out a substantial scam, which, however, cannot be prosecuted because this scam is carried out in a very refined way so as to make any complaint impossible (e.g., the word green and blue labels are used a lot because, psychologically, this induces the consumer to believe that the product is organic). The research also found that most companies perceive the relevance of sustainability but sacrifice it on the altar of profit. In fact, many companies say that they talk to their stakeholders about sustainability except that they do not implement sustainable policies mainly because of costs. The solution to this situation can only be identified in an increased culture of sustainability, both at the corporate and personal level. Only when companies and each person understands the relevance of sustainability, will it be possible to see a change in the situation from the research implemented in Europe and the US. As long as such a culture is not widely spread, any argument deepened by doctrine will not be taken up by companies and will remain an academic exercise implemented by scholars of a topic that will remain only theoretical and will not have a corporate operational application.

Keywords sustainability;greenwashing;sustainable behaviour of companies;integrated report.

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