Central European Business Review 2019, 8(5):69-93 | DOI: 10.18267/j.cebr.223

Modeling Environmental Actions of Corporate Sustainable Activity: Evidence from Lithuania

Rolandas Drejeris1, Danguolė Oželienė2
1 Vilnius Gediminas Technical University, Lithuania, rolandas.drejeris@vgtu.lt
2 Vilnius Gediminas Technical University, Lithuania, vvvk@vgtu.lt

Many sources have been noted that environmental protection measures are economically beneficial as their application allows to increase the efficiency of resource use, reduce operating costs, increase company’s profit and also to avoid ecological accidents. The aim of the article is to analyse the environmental component of sustainable development in terms of its expression in the corporate activities. And according to results of analysis to create a model whose application not only demonstrates the actions needed to strengthen the environmental sustainability of corporations, but also allows an assessment of their potential and readiness for sustainable development. The elements of created model define the environmental actions to be taken also provide structural basis for implementation of these processes. So, the model serves as an instrument to show directions of improving the environmental sustainability of the Company's activities. Research was based by using the methods of logical assessment, systematization, and comparison of information, selecting the most important information, which describes the environmental sustainability. The application of the actions in the company's activity would allow to gradually approach the sustainability of the company activities. Possibility to use the model and its suitability has been approved by Lithuanian construction companies. The application of the model will allow companies better implementation environmental actions which will improve the company's results of economic performance and will also help public institutions distributing funds for environmental purposes by projects. Construction companies were ranked in accordance with possibility to implement environmental measures by use proposed methodology.

Keywords: corporate sustainability, environmental protection, strategic decisions, modelling
JEL classification: M19, M40, O21

Received: July 12, 2019; Revised: October 28, 2019; Accepted: November 6, 2019; Prepublished online: January 24, 2020; Published: January 30, 2020  Show citation

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Drejeris, R., & Oželienė, D. (2019). Modeling Environmental Actions of Corporate Sustainable Activity: Evidence from Lithuania. Central European Business Review, 8(5), 69-93. doi: 10.18267/j.cebr.223
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