A3 Book section, Chapters in research books
Planetary well-being and sustainable business : A work in progress (2024)

Mäkelä, M., Aaltonen, V. A., Baumeister, S., Kuhmonen, I., Käyrä, M., Mäkinen, T., Näyhä, A., Onkila, T., Sarja, M., Sarna, B., & Suikkanen, J. (2024). Planetary well-being and sustainable business : A work in progress. In M. Elo, J. Hytönen, S. Karkulehto, T. Kortetmäki, J. S. Kotiaho, M. Puurtinen, & M. Salo (Eds.), Interdisciplinary Perspectives on Planetary Well-Being (pp. 141-153). Routledge. https://doi.org/10.4324/9781003334002-14

The research was funded by Strategic Research Council at the Research Council of Finland.

JYU authors or editors

Mäkelä, Marileena
Aaltonen, Valtteri
Baumeister, Stefan
Kuhmonen, Irene
Käyrä, Minna
Näyhä, Annukka
Onkila, Tiina
Sarja, Milla
Sarna, Bhavesh

Publication details

All authors or editors: Mäkelä, Marileena; Aaltonen, Valtteri A.; Baumeister, Stefan; Kuhmonen, Irene; Käyrä, Minna; Mäkinen, Tuuli; Näyhä, Annukka; Onkila, Tiina; Sarja, Milla; Sarna, Bhavesh; et al.

Parent publication: Interdisciplinary Perspectives on Planetary Well-Being

Parent publication editors: Elo, Merja; Hytönen, Jonne; Karkulehto, Sanna; Kortetmäki, Teea; Kotiaho, Janne S.; Puurtinen, Mikael; Salo, Miikka

ISBN: 978-1-032-36828-3

eISBN: 978-1-003-33400-2

Publication year: 2024

Publication date: 15/06/2023

Pages range: 141-153

Number of pages in the book: 270

Publisher: Routledge

Place of Publication: Abingdon

Publication country: United Kingdom

Publication language: English

DOI: https://doi.org/10.4324/9781003334002-14

Publication open access: Openly available

Publication channel open access: Open Access channel

Publication is parallel published (JYX): https://jyx.jyu.fi/handle/123456789/88237

Abstract

Businesses have a significant impact on global environmental and social sustainability. To address the related issues, the concept of sustainable business has been introduced, which refers to the practices that businesses can adopt to minimize their negative economic, environmental, and social impacts. This chapter presents a critical analysis of selected sustainable business concepts and practices using planetary well-being as a conceptual framework. In terms of conceptual approaches, the chapter discusses circular economy (circulation of resources without creating waste), degrowth (shrinking of production and consumption to respect planetary boundaries), and sustainability transition (radical changes in production and consumption). Regarding practical approaches, this chapter focuses on sustainable business models (how companies are organized to promote sustainability) and on the role of employees as change agents. The findings suggest that these concepts and practices have several shortcomings from the point of view of planetary well-being, as they are based on the logic of economic growth. The conclusion is that sustainable business requires radically different approaches and new ways of thinking to promote planetary well-being. However, this chapter has an optimistic view that the application of a planetary well-being perspective can provide valuable avenues for an environmentally and socially responsible future for sustainable business.

Keywords: sustainable development; ecological sustainability; social sustainability; enterprises; business models; economic growth; green transition; degrowth; circular economy