Corporate Environmentalism and Business Sustainability in Ghana: Prospects and Challenges

Abstract

The concept of corporate environmentalism (CE) has gained a lot of global attention in recent years as a potential vehicle to achieve sustainable development. Despite the growing awareness of its importance, there is limited empirical research on the current state of sustainability practices and their implementation among businesses in Ghana. Using a multiple case study design grounded in the qualitative approach, the study dwells on desk reviews of existing literature, corporate sustainability reports, and 10 key informant interviews including policymakers, regulators, academics, and practitioners from diverse industries; this study seeks to examine the (i) drivers and motivators, (ii) prospects, (iii) challenges, and (iv) approaches to scale up CE in Ghana. The results of the study revealed that branding, alignment with the sustainable development agenda, commitment to climate action, stakeholder and regulatory pressure, business resilience, and competitiveness are key drivers motivating companies to adopt environmental sustainability practices. The study identified prospects of CE for companies in Ghana including market demand and consumer awareness. Cost savings and operational efficiency offer significant potential, and access to finance presents opportunities for green initiatives. Reputation and brand enhancement are achievable through sustainability efforts but require consistent communication and stakeholder engagement. However, despite growing momentum, companies face challenges including financial constraints, limited access to environmentally friendly technologies, lack of technical expertise, and weak enforcement of environmental regulations. To overcome these obstacles, the article proposes a number of strategies to advance CE in Ghana.