Innovating for sustainability in food and beverage companies: the role of governance and environmental factors in climate change mitigation

Purpose

Focusing on the food and beverage (F&B) sectors, this study aims to identify combinations of external environmental factors (natural disasters and water stress) and internal corporate governance factors (corporate social responsibility [CSR] sustainability committee, board gender diversity and stakeholder engagement) that lead to the integration of climate change mitigation innovation and technologies.

Design/methodology/approach

A fuzzy set qualitative comparative analysis (fsQCA) was conducted on a global sample of 262 listed companies in the F&B sectors. Two additional analyses were performed for European and Asian companies.

Findings

In the three models, the presence of CSR sustainability committees and stakeholder engagement was crucial for achieving the integration of climate change mitigation innovation and technologies. The relevance of board gender diversity differs between the European and Asian models, highlighting potential regional influences on corporate climate innovation decisions. The combination of external and internal factors is the key to justifying different approaches to achieving climate innovation.

Originality/value

This study offers insights into the factors driving the integration of climate change mitigation innovation and technologies into company strategies. Related strategies must combine external and internal factors to enhance the climate resilience and competitiveness of F&B companies while reducing their environmental impact.