Forging Sustainable Development: Exploring the Impact of Green Initiatives and Corporate Social Responsibility

Abstract

In today's industrial landscape, businesses are increasingly recognizing the importance of integrating environmentally sustainable strategies to maintain competitiveness considering escalating environmental concerns. This study investigates the relationship between green practices, corporate social responsibility (CSR), managerial support, and sustainable business performance within Pakistan's service sector. Grounded in the resource-based view and stakeholder theory, the research employs a quantitative approach, surveying 506 participants across managerial levels from service sector. The findings underscore a positive correlation between green practices, CSR adherence, and sustainable performance. Notably, managerial support plays a pivotal role in translating green initiatives and CSR commitments into tangible sustainable outcomes. The widespread adoption of eco-friendly technologies within the service sector signifies a broader industry-wide shift towards sustainability. This study contributes valuable insights for academia, policymakers, industry professionals, and organizational leaders, shedding light on effective strategies for sustainable business practices. By aligning green initiatives with CSR objectives and leveraging managerial support, enterprises can position themselves as leaders in sustainable performance, thereby fostering value creation while addressing environmental challenges.