Shared Value in Sustainable Business Operations in Colombia and the Role of the Extracting Industries

Gualaco Giovanni (2021) Shared Value in Sustainable Business Operations in Colombia and the Role of the Extracting Industries. In: Innovative Solutions for Sustainability - Day of Hungarian Science 2021 Conference Proceeding. Budapesti Gazdasági Egyetem, Budapest, Magyarország, pp. 18-27. ISBN 978-615-6342-20-1

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Official URL: https://doi.org/10.29180/9786156342201_2

Abstract

The aim of this investigation is to provide an analysis of how the extracting industries can assess total value added, when thinking of the possibility of upgrading their high carbon footprint business operations to sustainable/neutral ones in Colombia. The analysis first reviews different political, social, and economic positions that exist in respect of high carbon footprint operations in Colombia. It then relates how value added can be assessed in the attempt of upgrading to sustainable operations. The second part is an exploration of the concept of corporate shared value to understand how companies can reconceive their products, redefine their productivity chain, reinforce clusters to create value in communities and their products. The last part of the analysis is to examine the drawbacks that the extracting industries could face in the process of upgrading their business operations to low carbon ones. This research paper intends to help the extracting industry understand their role in transforming society, and how they can assess the business and social implications of thinking and acting sustainably.