Skip to main content
SearchLoginLogin or Signup

The Integration Process of Environmental, Social, and Governance into the Business Model

Published onJun 20, 2023
The Integration Process of Environmental, Social, and Governance into the Business Model
Alaa Aldowaish1,*,+, Jiro Kokuryo1, Othman Almazyad2,
Hoe Chin Goi3
1Graduate School of Media and Governance, Shonan Fujisawa Campus, Keio University;
2Department of Business Administration, School of Political Science and Economics, Shonan Campus, Tokai University; 3NUCB Business School, Nagoya University of Commerce and Business
* [email protected]


Addressing Environmental, Social, and Governance (ESG) issues has become essential for many firms worldwide. However, the internal integration of ESG in shifting the business model to be a sustainable business model (SBM) was rarely discussed in the literature. The knowledge gap of how business is changing toward sustainability is not fully explored. Based on corporate narrative reports analysis of 35 firms' sustainability reports, integrated reports, and annual reports identified from the MSCI database consisting of 25 Japanese firms classified as (Japan ESG Select Leaders) and 10 European (top constituents) in the computer and information technology sector. We found Ricoh Group the only firm that provided a clear link of ESG in one dimension of the business model at the value creation. This study aims to investigate the impact of the adaptation of ESG on the Ricoh business model. We will conduct a single qualitative case study of Ricoh and explore the business model in three phases: the business model before the adaptation of ESG, the process of shifting or transitioning toward a sustainable business model, and the business model after ESG integration. This study will contribute to ESG and sustainable business model literature in three aspects. First, explain how firms shift or change their business model after adapting ESG. Second, develop a conceptual framework for ESG integration process into the business model. Finally, we will highlight how firms can integrate ESG into the business model to foster sustainability and financial performance.


ESG integration process, business model, sustainable business model, business model transformation, organizational change.

No comments here
Why not start the discussion?