Green marketing strategies: an examination of stakeholders and the opportunities they present
- Published: 06 October 2010
- Volume 39 , pages 158–174, ( 2011 )
Cite this article
- J. Joseph Cronin Jr 1 ,
- Jeffery S. Smith 1 ,
- Mark R. Gleim 1 ,
- Edward Ramirez 2 &
- Jennifer Dawn Martinez 3
21k Accesses
432 Citations
3 Altmetric
Explore all metrics
As green marketing strategies become increasingly more important to firms adhering to a triple-bottom line performance evaluation, the present research seeks to better understand the role of “green” as a marketing strategy. Through an integration of the marketing, management, and operations literatures, an investigative framework is generated that identifies the various stakeholders potentially impacted through the environmentally friendly efforts of a firm. Specifically, the inter-connected nature of the core business disciplines of marketing, management (both strategy and human resources), and operations are examined as controllable functions within an organization from which strategies can be enacted to affect a firm’s stakeholders. The prior research in these areas is examined to identify potential research opportunities in marketing while also offering a series of representative research questions that can help guide future research in marketing.
This is a preview of subscription content, log in via an institution to check access.
Access this article
Price includes VAT (Russian Federation)
Instant access to the full article PDF.
Rent this article via DeepDyve
Institutional subscriptions
Similar content being viewed by others
Online influencer marketing
Fine F. Leung, Flora F. Gu & Robert W. Palmatier
Research in marketing strategy
Neil A. Morgan, Kimberly A. Whitler, … Simos Chari
Concepts and forms of greenwashing: a systematic review
Sebastião Vieira de Freitas Netto, Marcos Felipe Falcão Sobral, … Gleibson Robert da Luz Soares
For the remainder of the paper, we use the triple-bottom line and people/profit/planet (or 3P) concepts interchangeably.
Alexander, G. J., & Buchholz, R. A. (1978). Corporate social responsibility and stock market performance. Academy of Management Journal, 21 (3), 479–486.
Google Scholar
Anderson, W. T., & Cunningham, H. (1972). The socially conscious consumer. Journal of Marketing, 36 , 23–32.
Angell, L. C. (2001). Comparing the environmental and quality initiatives of Badrige Award winners. Production and Operations Management, 10 (3), 276–292.
Aragón-Correa, J. A., & Sharma, S. (2003). A contingent resource-based view of proactive environmental strategy. Academy of Management Journal, 28 (1), 71–88.
Aragón-Correa, J. A., Matıas-Reche, F., & Senise-Barrio, M. E. (2004). Managerial discretion and corporate commitment to the natural environment. Journal of Business Research, 57 , 964–975.
Ashford, N. A., & Heaton, G. R. (1983). Environmental, health, safety, regulation and technological innovation. In C. T. Hill & J. M. Utterback (Eds.), Technological innovation for a dynamic economy . Oxford: Peragon Press.
Aupperle, K. E., Carroll, A. B., & Hatfield, J. D. (1985). An empirical examination of the relationship between corporate social responsibility and profitability. Academy of Management Review, 28 (2), 446–463.
Baker, W. E., & Sinkula, J. M. (2005). Environmental marketing strategy and firm performance: effects on new product performance and market share. Journal of the Academy of Marketing Science, 33 (4), 461–475.
Banerjee, S. B. (2002). Corporate environmentalism: the construct and its measurement. Journal of Business Research, 55 , 177–191.
Bansal, P. (2005). Evolving sustainably: a longitudinal study of corporate sustainable development. Strategic Management Journal, 26 (3), 197–218.
Bansal, P., & Hunter, T. (2003). Strategic explanations for ISO 14001 adoption. Journal of Business Ethics, 46 (3), 289–299.
Barratt, M. (2004). Understanding the meaning of collaboration in the supply chain. Supply Chain Management, 9 (1), 30–42.
Berger, I. E., Cunningham, P. H., & Drumwright, M. E. (2006). Identity, identificaion, and relationship through social alliances. Journal of the Academy of Marketing Science, 34 (2), 128–137.
Blackburn, J. D., Guide, V. D., Souza, G. C., & Van Wassenhove, L. N. (2004). Reverse supply chains for commercial returns. California Management Review, 46 (2), 6–22.
Bohlen, G. M., Diamantopolous, A., & Schlegelmilch, B. B. (1993). Consumer perceptions of the environmental impact of an industrial service. Marketing Intelligence and Planning, 11 (1), 37–48.
Bowen, F. E., Cousins, P. D., Lamming, R. C., & Farukt, A. C. (2001). The role of supply management capabilities in green supply. Production and Operations Management, 10 (2), 174–189.
Bowersox, D. J., Closs, D. J., & Stank, T. P. (2000). Ten mega-trends that will revolutionize supply chain logistics. Journal of Business Logistics, 21 (2), 1–16.
Brown, T. J., & Dacin, P. A. (1997). The company and the product: corporate associations and consumer product reponses. Journal of Marketing, 61 , 68–84.
Brown, B., & Perry, S. (1994). Removing the financial performance halo from Fortune’s “most admired” companies. Academy of Management Journal, 37 (5), 1347–1359.
Brummer, J. J. (1991). Corporate social responsibility and legitimacy: An interdisciplinary analysis . New York: Greenwood Press.
Buysse, K., & Verbeke, A. (2003). Proactive environmental strategies: a stakeholder management perspective. Strategic Management Journal, 24 (5), 453–470.
Carlson, L., Grove, S. J., & Kangun, N. (1993). A content analysis of environmental advertising claims: a matrix method approach. Journal of Advertising, 22 , 27–39.
Carter, C. R., & Carter, J. R. (1998). Interorganizational determinants of environmental purchasing: initial evidence from the consumer products industries. Decision Sciences, 29 (3), 659–684.
Carter, C. R., & Dresner, M. (2001). Purchasing’s role in environmental management: cross-functional development of grounded theory. Journal of Supply Chain Management, 37 (3), 12–27.
Carter, C. R., & Jennings, M. M. (2004). The role of purchasing in corporate social responsibility: a structural equation analysis. Journal of Business Logistics, 25 (1), 145–186.
Carter, C. R., Ellram, L. M., & Tate, W. (2007). The use of social network analysis in logistics research. Journal of Business Logistics, 28 (1), 137–168.
Center for Sustainable Enterprise (2010). About the center for sustainable enterprise . Retrieved June 15, 2010 from www.kenan-flagler.unc.edu .
Chinander, K. R. (2001). Aligning accountability and awareness for environmental performance in operations. Production and Operations Management, 10 (3), 276–291.
Coddington, W. (1993). Environmental marketing: Positive strategies for reaching the green consumer . New York: McGraw-Hill.
Davis, J. J. (1993). Strategies for environmental advertising. Journal of Consumer Marketing, 10 , 19–36.
De Ruyter, K., De Jong, A., & Wetzels, M. (2009). Antecedents and consequences of environmental stewardship in boundary-spanning B2B teams. Journal of the Academy of Marketing Science, 37 (4), 470–487.
Debo, L. G., Toktay, L. B., & Van Wassenhove, L. N. (2001). Market segmentation and product technology for remanufacturable products. Management Science, 51 (8), 1193–1205.
Delmas, M. (2001). Stakeholders and competitive advantage: the case of ISO 14001. Production and Operations Management, 10 (3), 343–358.
Diamantopoulos, A., Schlegelmilch, B. B., Sinkovics, R. R., & Bohlen, G. M. (2003). Can socio-demographics still play a role in profiling green consumers? A review of the evidence and an empirical investigation. Journal of Business Research, 56 , 465–480.
Donaldson, T., & Preston, L. E. (1995). The stakeholder theory of the corporation: concepts, evidence, and implications. Academy of Management Review, 20 (1), 65–91.
Drumwright, M. E. (1994). Socially responsible organizational buying: environmental concern as a noneconomic buying criterion. Journal of Marketing, 58 (3), 1–19.
Elkington, J. (1997). Cannibals with Forks: The triple bottom line of 21st century business . BC, Canada: New Society Publishers.
Ellen, P. S., Webb, D. J., & Mohr, L. A. (2006). Building corporate associations: consumer attributions for corporate socially responsible programs. Journal of the Academy of Marketing Science, 34 (2), 147–157.
Fein, S. (1996). Effects of suspicion on attributional thinking and the correspondence bias. Journal of Personality and Social Psychology, 70 (6), 1164–1184.
Freeman, R. E. (1984). Strategic management: A stakeholder approach . Boston: Pitman.
Frohlich, M. T., & Westbrook, R. (2001). Arcs of integration: an international study of supply chain strategies. Journal of Operations Management, 19 (2), 185–200.
Gattiker, T. F., & Carter, C. R. (2010). Understanding project champions’ ability to gain intra-organizational commitment for environmental projects. Journal of Operations Management, 28 (1), 72–85.
Ginsberg, J. M., & Bloom, P. N. (2004). Choosing the right green marketing strategy. MIT Sloan Management Review , 79–84, Fall.
Goldstein, N. J., Cialdini, R. B., & Griskevicius, V. (2008). A room with a viewpoint: using social norms to motivate environmental conservation in hotels. Journal of Consumer Research, 35 , 472–482.
Grinstein, A., & Nisan, U. (2009). Demarketing, minorities, and national attachment. Journal of Marketing, 73 (2), 105–122.
Guide, V. D. R., Jr. (2000). Production planning and control for remanufacturing: industry practice and research needs. Journal of Operations Management, 18 (4), 467–483.
Guide, V. D. R., Jr., & Van Wassenhove, L. N. (2001). Managing product returns for remanufacturing. Production and Operations Management, 10 (2), 142–155.
Guide, V. D. R., Jr., Teunter, R., & Van Wassenhove, L. N. (2003). Matching supply and demand to maximize profits from remanufacturing. Manufacturing and Service Operations Management, 5 (4), 303–316.
Guitierrez, C. (2010). Gulf oil crisis: BP credit rating cut by Moody’s . Retrieved June 23, 2010 from www.forbes.com .
Gulati, R. (1998). Alliances and networks. Strategic Management Journal, 19 (4), 293–317.
Hall, J., & Vredenburg, H. (2005). Managing stakeholder ambiguity. Sloan Management Review, 47 (1), 11–13.
Handfield, R., Walton, S. V., Seegers, L. K., & Melnyk, S. A. (1997). Green value chain practices in the furniture industry. Journal of Operations Management, 15 (4), 293–315.
Handfield, R., Walton, S. V., Sroufe, R., & Melnyk, S. A. (2002). Applying environmental criteria to supplier assessment: a study in the application of the analytical hierarchy process. European Journal of Operations Research, 141 (1), 70–87.
Hart, S. L. (1995). A natural resource based view of the firm. Academy of Management Review, 20 (4), 986–1014.
Hart, S. L., Arnold, M., & Day, R. (2000). The business of sustainable forestry: meshing operations with strategic purpose. Interfaces, 30 (3), 234–250.
Hillman, A. J., & Keim, G. D. (2001). Shareholder value, stakeholder management, and social issues: what’s the bottom line? Strategic Management Journal, 22 , 125–139.
Hunt, C. B., & Auster, E. R. (1990). Proactive environmental management: avoiding the toxic trap. MIT Sloan Management Review, 31 (2), 7–18.
Hurley, R. F., & Hult, G. T. (1998). Innovation, market orientation, and organizational learning: an integration and empirical examination. Journal of Marketing, 62 , 42–54.
Isbell, T. S. (1991). The backside of TQM: how waste indicates haste. Industrial Engineering, 23 (11), 42–45.
Jacobs, B. W., Singhal, V. R., & Subramanian, R. (2010). An empirical investigation of environmental performance and the market value of the firm. Journal of Operations Management, 28 (5), 430–441.
Jaworski, B. J., & Kohli, A. K. (1993). Market orientation: antecedents and consequences. Journal of Marketing, 57 , 53–70.
Kangum, N., Carlson, L., & Grove, S. J. (1991). Environmental advertising claims: a preliminary investigation. Journal of Public Policy & Marketing, 10 (2), 47–58.
Kassinis, G., & Soteriou, A. C. (2003). Greening the service profit chain: the impact of environmental management practices. Production and Operations Management, 12 (3), 386–403.
Kassinis, G., & Vafeas, N. (2006). Stakeholder pressures and environmental performance. Academy of Management Journal, 49 , 145–159.
King, A., & Lenox, M. J. (2001). Lean and green: exploring the spillovers from lean production to environmental performance. Production and Operations Management, 10 (3), 244–256.
King, A., & Lenox, M. J. (2002). Exploring the locus of profitable pollution reduction. Management Science, 48 (2), 289–299.
Kinnear, T., Taylor, J. R., & Ahmed, S. (1974). Ecological concerned consumers: who are they? Journal of Marketing, 38 , 2–24.
Klassen, R. D. (2001). Plant-level environmental management orientation: the influence of management views and plant characteristics. Production and Operations Management, 10 (3), 257–275.
Klassen, R. D., & Angell, L. C. (1998). An international comparison of environmental management in operations: the impact of manufacturing flexibility in the U.S. and Germany. Journal of Operations Management, 15 (23), 177–194.
Klassen, R. D., & Whybark, D. C. (1999). The impact of environmental technologies on manufacturing performance. Academy of Management Journal, 42 (6), 599–615.
Kleindorfer, P. R., Singhal, K., & Wassenhove, L. N. V. (2005). Sustainable operations management. Production and Operations Management, 14 (4), 482–492.
Kumar, S., & Malegeant, P. (2006). Strategic alliance in a closed-loop supply chain, a case of manufacturer and eco-non-profit organization. Technovation, 26 (10), 1127–1135.
Lapre, M. A., Mukherjee, A. S., & van Wassenhove, L. N. (2000). Behind the learning curve: linking learning activities to waste reduction. Management Science, 46 (5), 597–611.
Lash, J., & Wellington, F. (2007). Competitive advantage on a warming planet. Harvard Business Review, 85 (3), 94–102.
Lawrence, A. T., & Morell, D. (1995). Leading-edge environmental management: Motivation, opportunity, resources, and processes. In J. E. Post (Ed.), Research in corporate social performance and policy, supplement 1 (pp. 99–126). Greenwich: JAI Press Inc.
Lee, S. Y., & Klassen, R. D. (2008). Drivers and enablers that foster environmental management capabilities in small and medium sized suppliers and supply chains. Production and Operations Management, 17 (6), 573–586.
Lichtenstein, D. R., Drumwright, M. E., & Braig, B. M. (2004). The effects of corporate social responsibility on customer donations to corporate-supported nonprofits. Journal of Marketing, 68 , 16–32.
Luchs, M. G., Naylor, R. W., Irwin, J. R., & Raghunathan, R. (2010). The sustainability liability: potential negative effects of ethicality on product preference. Journal of Marketing,74 (5), 18–31.
Luo, X., & Bhattacharya, C. B. (2006). Corporate social responsibility, customer satisfaction, and market value. Journal of Marketing, 70 , 1–18.
Maignan, I., & Ferrell, O. C. (2001). Corporate citizenship as a marketing instrument: concepts, evidence, and research directions. European Journal of Marketing, 35 (3/4), 457–484.
Majumdar, S., & Marcus, M. A. (2001). Rules vs. discretion: the productivity consequences of flexible regulation. Academy of Management Journal, 44 (1), 170–179.
Makower, J. (2009). Taking care of business . Retrieved August 25, 2009 from www.greenbiz.com .
Markley, M. J., & Davis, L. (2007). Exploring future competitive advantage through sustainable supply chains. International Journal of Physical Distribution and Logistics Management, 37 (9), 763–774.
Marshall, R. S., & Brown, D. (2003). The strategy of sustainability: a systems perspective on environmental initiatives. California Management Review, 46 (1), 101–126.
Mathur, L. K., & Mathur, I. (2000). An analysis of the wealth effects of green marketing strategies. Journal of Business Research, 50 (2), 193–200.
McDonough, W., & Braungart, M. (2002). Design for the triple top line: new tools for sustainable commerce. Corporate Environmental Strategy, 9 (3), 251–258.
McGuire, J. B., Sundgren, A., & Schneeweis, T. (1988). Corporate social responsibility and firm financial performance. Academy of Management Journal, 31 (4), 854–872.
Melnyk, S. A., Sroufe, R. P., & Calantone, R. (2003). Assessing the impact of environmental management systems on corporate and environmental performance. Journal of Operations Management, 21 (3), 329–351.
Menguc, B., & Ozanne, L. K. (2005). Challenges of the “green imperative”: a natural resource-based approach to the environmental orientation—business performance relationship. Journal of Business Research, 58 (4), 430–438.
Menon, A., & Menon, A. (1997). Enviroprenerial marketing strategy: the emergence of corporate environmentalism as market strategy. Journal of Marketing, 61 (1), 51–67.
Mirvis, P. H. (1994). Environmentalism in progressive businesses. Journal of Organizational Change Management, 7 (4), 82–100.
Mohr, L. A., Eroglu, D., & Ellen, P. S. (1998). The development and testing of a measure of skepticism toward environmental claims in marketers’ communications. Journal of Consumer Affairs, 32 (1), 30–55.
Montabon, F., Sroufe, R., & Narasimhan, R. (2007). An examination of corporate reporting, environmental management practices and firm performance. Journal of Operations Management, 25 (5), 998–1014.
Moskowitz, M. (1972). Choosing socially responsible stocks. Business and Society Review, 1 , 71–75.
Mostafa, M. M. (2007). Gender differences in Egyptian consumers’ green purchase behaviour: the effects of environmental knowledge, concern, and attitude. International Journal of Consumer Studies, 31 (3), 220–229.
Murphy, P. R., & Poist, R. F. (2002). Socially responsible logistics: an exploratory study. Transportation Journal, 41 (4), 23–35.
Narver, J. C. (1971). Rational management responses to external effects. Academy of Management Journal, 14 (1), 99–115.
Norman, W., & MacDonald, C. (2004). Getting to the bottom of “triple bottom line”. Business Ethics Quarterly, 12 , 243–262.
Pagell, M., & Gobeli, D. (2009). How plant managers’ experiences and attitudes toward sustainability relate to operational performance. Production and Operations Management, 18 (3), 278–299.
Parket, I. R., & Eilbirt, H. (1975). Social responsibility: the underlying factors. Business Horizons, 18 , 5–10.
Perreault, W. D., Jr., & Leigh, L. E. (1989). Reliability of nominal data based on qualitative judgments. Journal of Marketing Research, 26 , 135–148.
Pil, F. K., & Rothenberg, S. (2003). Environmental performance as a driver of superior quality. Production and Operations Management, 12 (3), 404–415.
Porter, M. E. (1991). Towards a dynamic theory of strategy. Strategic Management Journal, 12 (2), 95–117.
Porter, M., & van der Linde, C. (1995). Toward a new conception of the environment-competitiveness relationship. The Journal of Economic Perspectives, 9 (4), 97–118.
Pujari, D., Wright, G., & Peattie, K. (2003). Green and competitive: influences on environmental new product development performance. Journal of Business Research, 56 (8), 657–674.
Ramus, C. A., & Steger, U. (2000). The roles of supervisory support behaviors and environmental policy in employee ‘ecoinitiatives’ at leading-edge European companies. Academy of Management Journal, 43 (4), 605–626.
Razzaque, M. A., & Hwee, T. P. (2002). Ethics and purchasing dilemma: a Singaporean view. Journal of Business Ethics, 35 (4), 307–326.
Reinhardt, F. (1999). Market failure and the environmental policies of firms. Journal of Industrial Ecology, 3 (1), 9–21.
Roberts, J. A. (1996). Green consumers in the 1990s: profile and implications for advertising. Journal of Business Research, 36 , 217–231.
Roberts, S. (2003). Supply chain specific? Understanding the patchy success of ethical source initiatives. Journal of Business Ethics, 44 (2–3), 159–170.
Rothenberg, S., Pil, F. K., & Maxwell, J. (2001). Lean, green, and the quest for superior environmental performance. Production and Operations Management, 10 (3), 228–243.
Russo, M. V., & Fouts, P. A. (1997). A resource-based perspective on corporate environmental performance and profitability. Academy of Management Journal, 40 (3), 534–559.
Saad, L. (2006). Americans see environment as getting worse . Accessed March 11, 2010. http://www.gallup.com/ . April 20, 2006.
Sen, S., & Bhattacharya, C. B. (2001). Does Dong good always lead to doing better? Consumer reactions to corporate social responsibility. Journal of Marketing Research, 38 , 225–243.
Shrivastava, P. (1995a). Environmental technologies and competitive advantage. Strategic Management Journal, 16 (S1), 183–200.
Shrivastava, P. (1995b). Technological transformation and the new competitive landscape. Strategic Management Journal, 16 , 183–200.
Shrum, L. J., McCarty, J. A., & Lowrey, T. M. (1995). Buyer characteristics of the green consumer and their implications for advertising strategy. Journal of Advertising, 14 (2), 71–82.
Slater, S. F., & Narver, J. C. (2000). The positive effect of a market orientation on business profitability: a balanced replication. Journal of Business Research, 48 , 69–73.
Sroufe, R. (2003). Effects of environmental management systems on environmental management practices and operations. Production and Operations Management, 12 (3), 416–431.
Strauss, A., & Corbin, J. (1998). Basics of qualitative research: Techniques and procedures for developing grounded theory (2nd ed.). Thousand Oaks: Sage.
Tanner, C., & Kast, S. W. (2003). Promoting sustainable consumption: determinants of green purchases by Swiss consumers. Psychology & Marketing, 20 (10), 883–902.
Teoh, S. H., Welch, I., & Wazzan, C. P. (1999). The effect of socially activist investment policies on the financial markets: evidence from the South African boycott. Journal of Business, 72 (1), 35–89.
Ullmann, A. A. (1985). Data in search of a theory: a critical examination of the relationships among social performance, social disclosure, and economic performance of U.S. firms. Academy of Management Review, 10 (3), 540–557.
United Nations Environment Programme (UNEP) (2005). Talk the walk: Advancing sustainable lifestyles through marketing and communications . Retrieved June 1, 2010 from www.unep.fr .
Vachon, S., & Klassen, R. D. (2006). Extending green practices across the supply chain: the impact of upstream and downstream integration. International Journal of Operations and Production Management, 26 (7), 795–821.
van Woensel, T., Creten, R., & Vandaele, N. (2001). Managing the environmental externalities of traffic logistics: the issue of emissions. Production and Operations Management, 10 (2), 207–223.
Vance, S. C. (1975). Are socially responsible corporations good investment risks? Management Review, 64 , 18–24.
Varadarajan, P. R. (1992). Marketing’s contribution to strategy: the view from a different looking glass. Journal of the Academy of Marketing Science, 20 , 323–343.
Vastag, G. (2004). Revisiting ISO 14000 diffusion: a new “look” at the drivers of certification. Production and Operations Management, 13 (3), 260–267.
Waddock, S. A., & Graves, S. B. (1997). The corporate social performance-financial performance link. Strategic Management Journal, 18 (4), 303–319.
Wagner, T., Lutz, R. J., & Weitz, B. A. (2009). Corporate hypocrisy: overcoming the threat of inconsistent corporate social responsibility perceptions. Journal of Marketing, 73 , 77–91.
Webster, F., Jr. (1975). Determining the characteristics of the socially conscious consumer. Journal of Consumer Research, 2 , 188–196.
Willard, R. (2008). In M. V. Russo (Ed.), Objection-handling clinic on inhibitors the next wave. Environmental management: Readings and cases (pp. 169–190). Los Angeles: Sage.
Winston, A. (2009). Finding the capital to go green . Retrieved November 12, 2009 from www.businessweek.com .
Wright, P., & Ferris, S. P. (1997). Agency conflict and corporate strategy: the effect of divestment on corporate value. Strategic Management Journal, 18 (1), 77–83.
Yoon, Y., Gurhan-Canli, Z., & Bozok, B. (2006). Drawing inferences about others on the basis of corporate associations. Journal of the Academy of Marketing Science, 34 (2), 167–173.
Zinkhan, G. M., & Carlson, L. (1995). Green advertising and the reluctant consumer. Journal of Advertising, 24 (2), 1–6.
Download references
Author information
Authors and affiliations.
The College of Business, Department of Marketing, The Florida State University, Rovetta Business Annex Room 307, P.O. Box 3061110, Tallahassee, FL, 32306-1110, USA
J. Joseph Cronin Jr, Jeffery S. Smith & Mark R. Gleim
College of Business Administration, Department of Marketing and Management, The University of Texas at El Paso, Business Room 230, El Paso, TX, 79968, USA
Edward Ramirez
Fogelman College of Business & Economics, Department of Marketing & Supply Chain Management, The University of Memphis, FAB 302, Memphis, TN, 38152, USA
Jennifer Dawn Martinez
You can also search for this author in PubMed Google Scholar
Corresponding author
Correspondence to J. Joseph Cronin Jr .
Additional information
This research was supported by the Institute for Energy Systems, Economics and Sustainability (IESES) at The Florida State University.
Rights and permissions
Reprints and permissions
About this article
Cronin, J.J., Smith, J.S., Gleim, M.R. et al. Green marketing strategies: an examination of stakeholders and the opportunities they present. J. of the Acad. Mark. Sci. 39 , 158–174 (2011). https://doi.org/10.1007/s11747-010-0227-0
Download citation
Received : 31 December 2009
Accepted : 15 September 2010
Published : 06 October 2010
Issue Date : February 2011
DOI : https://doi.org/10.1007/s11747-010-0227-0
Share this article
Anyone you share the following link with will be able to read this content:
Sorry, a shareable link is not currently available for this article.
Provided by the Springer Nature SharedIt content-sharing initiative
- Green marketing strategy
- Environmental strategy
- Stakeholder analysis
- Find a journal
- Publish with us
- Track your research
India incorporates green bonds into its climate finance strategy
Farah imrana hussain, helena dill.
In 2023, India experienced the hottest February since 1901, the first year the country’s Meteorological Department started its weather records. Extreme weather events like this are becoming frequent and are expected to get worse due to climate change. India is among the countries most affected by the impacts of extreme weather events .
As the world’s most populous country, with nearly 1.4 billion inhabitants, the carbon intensity of India’s economy has a direct impact on global emissions, and thus, on climate change. In 2021, India’s greenhouse gas emissions (GHG) amounted to some 3.9 billion carbon dioxide (CO2)-equivalent tonnes, making it the world’s third largest emitter , behind China and the United States, although GHG emissions per capita were only 2.8 CO2-equivalent tonnes , compared to a world average of 6.9 and 17.5 in the United States.
India’s longstanding commitment to the environment
The protection and improvement of the environment, as well as the safeguarding of forests and wildlife, are embedded in the country’s Constitution . In 2008, the Government of India launched its National Action Plan on Climate Change , with eight national missions that aim to reduce the economy’s emission intensity, improve energy efficiency, increase forest cover, and develop sustainable habitats. The climate policy is coupled with other policy goals, such as energy access and water security.
India’s 2030 climate targets submitted under the Paris Agreement include reducing its economy’s emission intensity by 45% compared to 2005 and increasing the share of non-fossil fuel-based energy resources to half of the installed capacity. To finance these and other commitments, the country needs around $170 billion per year in investments. However, with an average of $44 billion per year, estimated climate finance flows have fallen short .
During the 27th United Nations Conference of Parties (COP) in Egypt last November, India highlighted the need to scale up financial flows to emerging countries to strengthen their efforts to address and adapt to climate change. Immediately following the COP, the Government of India took important steps to mobilize private sector capital for its own needs.
A giant leap into sustainable finance
On February 1st, 2022, Union Minister for Finance and Corporate Affairs, Ms. Nirmala Sitharaman announced the Government of India’s plan to issue sovereign green bonds to mobilize resources for green infrastructure. The proceeds will be deployed in public sector projects that contribute towards reducing the carbon intensity of the economy. On January 25, 2023, India issued the first tranche of its first sovereign green bond worth INR 80 billion (equivalent to $980 million). On February 9, 2023, the Government of India announced the issuance of another INR 80 billion ($968 million) in sovereign green bonds.
"On January 25, 2023, India issued the first tranche of its first sovereign green bond worth INR 80 billion (equivalent to $980 million)."
Supporting renewable energy, energy efficiency and pollution control
The sovereign green bonds showcase India’s commitment to expanding renewable energy production and reducing its carbon intensity by supporting expenditures for renewable energy and electrification of transport systems. Investments in these sectors are particularly important as they represented around 41% of India’s GHG emissions in 2019 and are expected to account for two-thirds of emissions by 2050 as the economy continues to grow. Green bond proceeds allocated to renewable energy will support the rollout of well-proven renewable energy technologies (solar power, followed by wind and small hydro), as well as research and development of new technologies, such as tidal energy. This is very important to support India’s energy transition journey, as currently coal is the country’s main source of energy, accounting for 55% of the energy needs.
Other project categories eligible to receive funding from the sovereign green bond include renewable energy, sustainable water and waste management, energy efficiency, green buildings, climate change adaptation, sustainable management of living natural resources and land use, and terrestrial and aquatic biodiversity conservation. Bond proceeds will not be used to finance expenditures that involve extraction, production, and distribution of fossil fuels or where the core energy source is fossil-fuel based.
"The sovereign green bonds showcase India’s commitment to expanding renewable energy production and reducing its carbon intensity by supporting expenditures for renewable energy and electrification of transport systems."
Partnership with the World Bank
The World Bank’s Sustainable Finance and ESG Advisory Services provided technical assistance to the Government of India to establish the sovereign green bond program. This work is part of the World Bank’s efforts to leverage its expertise to help emerging markets mobilize private capital to meet large financing gaps for sustainable development. The World Bank Group is working with India to maximize finance for climate transition and green growth. The Rewa Ultra Mega Solar Power Project in Madhya Pradesh, one of the world’s largest solar power plants, for instance, combines a World Bank loan for infrastructure, IFC funding to mobilize local currency investments and advisory services to establish public-private partnerships and attract private capital.
India leads Asian emerging markets (excluding China) in green bond issuance
Financial institutions and government agencies have used the instrument since 2015. Indian green bond issuances have reached a total of $21 billion as of February 2023. The private sector was responsible for 84% of the total (see Figure 1).
The largest green bond issuer in India Greenko Group is funding hydro, solar, and wind power projects in several Indian states with its green bond proceeds. Ghaziabad Nagar Nigam, a civic body in Uttar Pradesh, is the first Indian local government to have issued a green bond (USD eq 20 million in 2021). Indore Municipal Corporation issued USD 87 million in green bonds in 2023.
Indian issuers have issued a greater amount of green bonds ($21 billion) than other emerging markets in Asia, excluding China. With the foray of the Government of India into the green bond market, we can look forward to more investments in green and climate-friendly projects and activities that will contribute towards India’s transition towards green, resilient, and inclusive development.
Climate Stories: From India to Indonesia, Green Bonds Help Countries Move Toward Sustainability
Video: How the World Bank Facilitates the Issuance of Green Bonds
Market Overview: GSSS Bonds
eLearning Module: Green, Social and Sustainability Bonds
- Climate Change
- Financial Sector
Senior Financial Officer, Treasury
Consultant, World Bank Treasury
Join the Conversation
- Share on mail
- comments added
IMAGES
VIDEO
COMMENTS
Green marketing is defined as an integration of marketing that promotes sustainable marketing-related activities and satisfies human needs while minimizing the adverse effects on the environment (Amoako et al., 2022; Dangelico & Vocalelli, 2017).Green marketing has become a practical approach to decrease energy consumption and to increase environmentally friendly consumption activities ...
The paper explored issues are linked with the theoretical approach of green marketing strategies with on consumers' behavioural intention to purchase green product.
Green marketing and green marketing strategy. The term GM was first coined in 1970 (Yazdanifard and Mercy, Citation 2014), since then literature on GM concepts, strategies, functions, and GM mix elements has been established (Gelderman et al., Citation 2021; Han et al., Citation 2019; Katsikeas et al., Citation 2016). (Dangelico & Vocalelli, Citation 2017) found that there is a rapid growth in ...
Due to the focus of this paper, studies included in the review have been analyzed with specific attention to three main topics: definitions of Green Marketing and related concepts, Green Marketing Strategy, and Green Marketing Mix. Fig. 3 shows the number of studies dealing with each one of these topics and their sub-topics. Many studies ...
Many companies have developed a green marketing strategy, aimed at promoting and selling green environmental products. While the majority of articles on this topic report on studies in a business-to-consumer setting, this research focusses on the impact of green marketing strategies on the satisfaction and loyalty of professional buyers in a business-to-business setting.
Green products are composed of renewable resources and aim to minimize waste by maximizing resource efficiency. Some examples of green products are recycled paper, herbal products, and energy-saving bulbs, which are easily recycled and benefit the environment by reducing waste during manufacturing. Consumers and organizations are becoming more environmentally conscious. Consumer adoption of ...
Previous green marketing research (e.g. Chamorro et al., 2009, Leonidou and Leonidou, 2011) identifies three pillars that are central tenets of the discipline, namely strategic green marketing, tactical green marketing and internal green marketing.However, surprisingly few empirical studies provide an integrative framework that offers a whole organizational approach to the green marketing concept.
This research aims to analyze and synthesize the research articles published over the past ten years, from 2012 to 2022, that deal with green marketing and digital marketing. The objective is to track the evolution of research in the field and to understand the trends on which the area has been researched during that period. The paper is based on a database of 54 research articles published in ...
Sustainability has become the top priority for many businesses in the current era, and green marketing strategies are used to encourage the purchase of environmentally friendly goods. The research aims to analyze green marketing strategies and their impact on consumer behavior toward the environment in China. The study uses a logistic regression approach for data analysis. We found that ...
The undertaken research examines the impact of green attitude, green customer value (e.g., environmental image and perceived value), and green marketing mix (e.g., product, packaging, price, promotion, and place) on green purchasing intention. The research has integrated fundamental theoretical approaches of customers' purchasing such as attitude-behavior context (ABC) theory, signaling ...
With respect to challenges for green marketing innovation, this research illustrates four key recommendations on green marketing communication for young consumers based on the six motivational dimensions: We recommend firms to develop strategies to 1) engage in green education, 2) create community, 3) be aware of consumer diversity, whereas ...
Green marketing and environmental sustainability are not just short-term passing trends [ 3 ]. It is asserted that green marketing will have a significant impact on the buying and consumption habits of consumers in the future [ 18 ]. The research aim is to analyze the conceptual frameworks of green marketing.
The paper concludes with the evidences of integration between sustainability and marketing in forms of corporate environmental actions and green marketing practices in businesses. The paper deals ...
After compiling a candidate pool of 2604 papers and applying a set of inclusion and exclusion criteria, the final sample comprised 166 articles published between 1995 and 2022. ... part of green ...
As green marketing strategies become increasingly more important to firms adhering to a triple-bottom line performance evaluation, the present research seeks to better understand the role of "green" as a marketing strategy. Through an integration of the marketing, management, and operations literatures, an investigative framework is generated that identifies the various stakeholders ...
Green marketing is still blooming [9-11]. In addition, the extant literature reveals that previous scholars have investigated the effect of green marketing mix variables on eco-friendly products in general. However, there is hardly any research that aims to corroborate the influence of green marketing mix variables on consumers' buying ...
Green marketing, also alternatively known as environmental marketing and sustainable marketing, refers to an organization's efforts at designing, promoting, pricing, and distributing products that will not harm the environment. Green Marketing Strategy Firm Performance 1-Products 2-Price -Distribution-Promotion 5-Physical evidence 6-Process 7 ...
Interest in green marketing in both the academic and practitioner communities has undergone steady growth in recent years. With more than 150 papers published in 2022, the Web of Science (WOS) database confirms this premise. Although some bibliometric analyses on this topic exist, none has included a comprehensive review of the literature, authors, journals, theories, keywords, and future ...
This research paper examines the consumer perception towards green product and green marketing; the researcher has adopted the Convenient Sampling Method. A total of 520 respondents of the ...
I. Introduction. According to the American Marketing Association, greenmarketing is the marketing of products that are presumed tobe environmentally safe. Thus green marketing incorporates abroad range of activities, including product modification,changes to the production process, packaging changes, aswell as modifying advertising.
firms due to harmful effect on the environment. This research paper explains the concept of green marketing, evolution of green marketing, green marketing mix, and challenges of green marketing and also explains the companies who are adopting green strategy in the market and also explains the factors which can influence the green marketing.
Eco-Friendly products and services, which belong to Green Marketing, lead consumers and companies to raise their environmental awareness (Lu et al., 2013;Zinkhan & Carlson, 1995). Thus, consumers ...
A giant leap into sustainable finance. On February 1st, 2022, Union Minister for Finance and Corporate Affairs, Ms. Nirmala Sitharaman announced the Government of India's plan to issue sovereign green bonds to mobilize resources for green infrastructure. The proceeds will be deployed in public sector projects that contribute towards reducing ...
The Paper aims at finding out what actually Green Marketing is all about and how can a business firm be more competitive by using green marketing strategies to gain a competitive edge over others.