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This paper investigates the relationship between sustainability and financial performance using a sample of G7 firms from 2004 to 2020. We find a positive bidirectional relationship that firms with better sustainability performance are more profitable in the future and firms with better financial performance have higher subsequent sustainability performance. In addition, we test how two major crises (the financial crisis and the COVID‐19 pandemic) affect the sustainability‐financial performance relationship. Firms with better sustainability performance are hit harder on their financial performance, but the benefits of financial performance on sustainability are strengthened during the financial crisis. During the ongoing COVID‐19 crisis, firms with strong sustainability performance have been more resilient, and their financial performance has dropped less than firms with poor sustainability performance. However, the benefits of profitability on sustainability are weakened. Our results suggest that sustainability provides “insurance”‐like protection against economic downturns during COVID‐19 and mature sustainability offers economic benefits but not early‐stage sustainability. It expands the contingency perspective of sustainability–financial performance relationship to crisis management.

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Sustainable and energy efficient (SEE) attributes in the housing market have become a focus in Canada. Similarly, understanding the consumer’s decision-making process of this high-involvement ethical product has become a burgeoning area for researchers. This study describes the development of the subject, highlighting the nature of the ethical decision-making process and how it relates to this known intention–behaviour gap. An observation, followed by two studies consisting of in-depth interviews with real estate agents and sales representatives (n = 15) and home purchasers/consumers (n = 15), were conducted. Transcriptions were analysed qualitatively with NVivo Pro 12 software (NVivo Pro 12, QSR International Pty Ltd, Melbourne, Australia). Inductive thematic analysis revealed two main driving themes: information and trust in seller/realtor. Attribute investment return uncertainty was identified as a theme that affects the strength of the relationship between purchase intention and behaviour, whereas the trust in seller/realtor speaks to how and why this effect occurs. The findings present relationships among the driving factors that were identified by realtors and consumers in the SEE housing market, as well as barriers (investment return uncertainty) that prevent consumers from purchasing high-involvement ethical products.