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Purpose Following the unceasing pressure on companies to adopt sustainable business practices to mitigate climate effect, this study aims to examine corporate governance (CG) attributes and role of activist investors in influencing extensive sustainability practice for firms in the developed and emerging climes. Design/methodology/approach Using a panel ordered probit regression analysis for 368 companies over 2016 to 2019, the study examined CG attributes that drive extensive corporate sustainability practice. The study addressed endogeneity bias using STATA Extended panel ordered probit regression model with endogenous covariates. Findings The result showed CG attributes is critical for firms, and activist investors play a critical role in driving extensive sustainability practice. Findings further reveal the extent of adoption is relatively low in the emerging climes but showed sign of improvement over the years examined. Research limitations/implications The study focused mainly on larger firms operating in different sectors globally. Hence, findings cannot be generalized for small sized entities. Practical implications The study provides an insightful explanation regarding the extensive sustainability practices and the vital role assumed by activist investors. Social implications The increasing number of companies responding to Carbon Disclosure Project and consequent improvement in scores indicates a corporate commitment to ensuring a sustainable future. Originality/value This research offers significant insights to the extent discussion on attributes of CG critical for sustainability practice. The findings ascertain useful tools to aid the continued adoption of sound sustainability practices around the globe.

The sustainable development goals (SDGs) adopted by all the United Nations member countries were to reduce the social and ecological outcome of businesses and governments across the globe, among others. Businesses can key into this agenda by disclosing their economic, environmental and social impact in their financial reports. However, in Nigeria, the extent of sustainability reporting amongst firms is still low and not a listing requirement. Against this backdrop, this study investigated the influence of a diverse board on the extent of sustainability reporting in listed industrial goods firms on the Nigerian Stock Exchange from the period 2014-2018. We developed a sustainability disclosure index using the Global Reporting Initiative (GRI) guidelines to score the information content of annual reports relating to sustainability performance. Nationality, age and educational level were used to proxy diversity in the boardroom. The study also used descriptive and inferential statistics to summarize the data and to draw an inference on the population studied. Our study failed to validate the theoretical framework - StakeholderDependency Theory used in the study, as results from the panel least squares regression revealed that age diversity in the boardroom negatively and significantly affects the extent of sustainability reporting. Furthermore, we found no evidence on the nexus between nationality diversity and sustainability reporting; and education level diversity and sustainability reporting. The study concluded that diversity in boardroom influences the extent of sustainability reporting in Nigeria. This study recommends that firms should increase the representation of foreign directors in the boardroom because they add value and a wealth of experience to the board.

This study examined differing attributes that motivate corporate sustainability practices and performance (CSP&P) in the global economy. Utilizing publicly disclosed information from the Carbon Disclosure Project (CDP), data were gathered for publicly listed companies operating in high carbon-intensive and less carbon-intensive sectors on a global scale, and a panel ordered probit regression model analysis was conducted to arrive at the findings. The rigorous reliability and validity of the scales were ensured. Firm-level attributes, industry-specific factors, stakeholder pressure, and country-level attributes were the variables examined for each context. The findings reveal that the firm-level attributes showed that board size, board independence, sustainability committee, and firm size were linked to positive motivation, while firm age was found to negatively influence the response level. The study discovered that the industry-specific factors variable has a negative significant influence because industry leaders (firms in high carbon-intensive sectors) exhibit poor sustainability performance, suggesting a negative attitude towards environmental issues. The study discovered a positive and highly significant influence of stakeholder pressure, while country-level attributes partially played a significant role. Overall, the findings show that a disparity exists in the level of response between the different global economies. The justification for the findings is based on the theory of interested parties, political theory, and legitimacy concerns that shape the strategic choices made by companies.