Clash of interests on the path of sustainable development implementation

Abstract

PURPOSE: The aim of this article is to identify and determine the influence of key interest groups in terms of implementing sustainable development principles.

DESIGN/METHODOLOGY/APPROACH: Analysis of processes and behaviour of institutions and social groups using statistical data.

FINDINGS: Sustainable development appears today to be the most rational response of societies to the global problems of humanity. Despite widespread understanding and recognition as well as various initiatives, progress in implementing the principles of sustainable development is far from being satisfactory. Antipodally, transnational corporations based on the logic of microeconomic rationality continue to grow in strength. Therefore, it is very important to identify and seek opportunities to strengthen forces and interests that are guided by an equal consideration of economic, social and environmental factors in the implemented activities. The analysis of the issue shows the key role of the state in this process, but also of non-governmental organisations which, thanks to their activity and organisation, are able to effectively influence their surroundings to follow the principles of sustainable development. Countries with the highest number of NGOs also lead the sustainability ranking. There is great causative potential for regulated financial markets to increasingly involve financial institutions in sustainability criteria in their own operations and those of their clients. The European Union's regulations and initiatives, which provide directional support for UN programmes, play a very important role in this process.

PRACTICAL IMPLICATIONS: The conducted analysis shows that combining the interests and activities of informal institutions, alongside selective support of the formal ones, synergistically strenghtens the implementation of sustainable development principles.

ORIGINALITY/VALUE: The analysis is part of a search for causal factors enabling the dissemination and acceleration of the implementation of sustainable development principles in the world.