THE MITIGATING FACTORS OF GREENWASHING : A SYSTEMATIC LITERATURE REVIEW
Keywords:
Greenwashing, ESG, Systematic Literature Review
Abstract
Greenwashing is a strategy carried out by companies by presenting an image of good sustainable performance but hiding their actual environmental performance. Greenwashing harms investors and consumers. Therefore, this research will examine mitigation factors that can minimize the occurrence of greenwashing practices. This research method uses a Systematic Literature Review (SLR) with a database sourced from Scopus as many as 21 articles that are relevant to the topic of this study. It is hoped that the final results of this research will be useful in making policies related to greenwashing and as a basis for a development model for researchers related to greenwashing topics in the future.
References
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Boncinelli, F., Gerini, F., Piracci, G., Bellia, R., & Casini, L. (2023). Effect of executional greenwashing on market share of food products: An empirical study on green-coloured packaging. Journal of Cleaner Production, 391, 136258.
Braga, S., Martínez, M. P., Correa, C. M., Moura-Leite, R. C., & Da Silva, D. (2019). Greenwashing effect, attitudes, and beliefs in green consumption. RAUSP Management Journal, 54, 226-241.
De Freitas Netto, S. V., Sobral, M. F. F., Ribeiro, A. R. B., & Soares, G. R. D. L. (2020). Concepts and forms of greenwashing: A systematic review. Environmental Sciences Europe, 32(1), 1-12.
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Eliwa, Y., Aboud, A., & Saleh, A. (2021). ESG practices and the cost of debt: Evidence from EU countries. Critical Perspectives on Accounting, 79, 102097.
García, C. J., Herrero, B., Miralles-Quirós, J. L., & del Mar Mirallles-Quirós, M. (2023). Exploring the determinants of corporate green bond issuance and its environmental implication: The role of corporate board. Technological Forecasting and Social Change, 189, 122379.
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Guo, R., Zhang, W., Wang, T., Li, C. B., & Tao, L. (2018). Timely or considered? Brand trust repair strategies and mechanism after greenwashing in China—from a legitimacy perspective. Industrial marketing management, 72, 127-137.
Gregory, R. P. (2023). When is greenwashing an easy fix?. Journal of Sustainable Finance & Investment, 13(2), 919-942.
Hassan, A. M., Roberts, L., & Atkins, J. (2020). Exploring factors relating to extinction disclosures: What motivates companies to report on biodiversity and species protection?. Business Strategy and the Environment, 29(3), 1419-1436.
Hemmings, P., Mulheron, M., Murphy, R. J., & Prescott, M. (2023). Investigating the robustness of UK airport net zero plans. Journal of Air Transport Management, 113, 102468.
Kim, E. H., & Lyon, T. P. (2015). Greenwash vs. brownwash: Exaggeration and undue modesty in corporate sustainability disclosure. Organization Science, 26(3), 705-723.
Li, W., Li, W., Seppänen, V., & Koivumäki, T. (2023). Effects of greenwashing on financial performance: Moderation through local environmental regulation and media coverage. Business strategy and the environment, 32(1), 820-841.
Lu, Z., Lin, Y., & Li, Y. (2023). Does corporate engagement in digital transformation influence greenwashing? Evidence from China. Finance Research Letters, 104558.
Lyon, T. P., & Montgomery, A. W. (2013). Tweetjacked: The impact of social media on corporate greenwash. Journal of business ethics, 118, 747-757.
Mateo-Márquez, A. J., González-González, J. M., & Zamora-Ramírez, C. (2022). An international empirical study of greenwashing and voluntary carbon disclosure. Journal of Cleaner Production, 363, 132567.
Montero-Navarro, A., González-Torres, T., Rodríguez-Sánchez, J. L., & Gallego-Losada, R. (2021). A bibliometric analysis of greenwashing research: a closer look at agriculture, food industry and food retail. British Food Journal, 123(13), 547-560.
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Nyilasy, G., Gangadharbatla, H., & Paladino, A. (2014). Perceived greenwashing: The interactive effects of green advertising and corporate environmental performance on consumer reactions. Journal of business ethics, 125, 693-707.
Olatubosun, P., & Nyazenga, S. (2019). Greenwashing and responsible investment practices: empirical evidence from Zimbabwe. Qualitative Research in Financial Markets, 13(1), 16-36.
Priyanto, A., & Robiyanto, R. (2020). FACTORS AFFECTING SUSTAINABLE GROWTH RATE ON MANUFACTURING COMPANIES IN INDONESIA STOCK EXCHANGE PERIOD 2015-2018. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 4(2), 1-21.
Rahman, S. U., & Nguyen‐Viet, B. (2023). Towards sustainable development: Coupling green marketing strategies and consumer perceptions in addressing greenwashing. Business Strategy and the Environment, 32(4), 2420-2433.
Schmuck, D., Matthes, J., & Naderer, B. (2018). Misleading consumers with green advertising? An affect–reason–involvement account of greenwashing effects in environmental advertising. Journal of Advertising, 47(2), 127-145.
Seele, P., & Schultz, M. D. (2022). From greenwashing to machinewashing: a model and future directions derived from reasoning by analogy. Journal of Business Ethics, 178(4), 1063-1089.
Testa, F., Iovino, R., & Iraldo, F. (2020). The circular economy and consumer behaviour: The mediating role of information seeking in buying circular packaging. Business Strategy and the Environment, 29(8), 3435-3448.
Torelli, R., Balluchi, F., & Lazzini, A. (2020). Greenwashing and environmental communication: Effects on stakeholders' perceptions. Business strategy and the Environment, 29(2), 407-421.
Toussaint, M., Cabanelas, P., & González-Alvarado, T. E. (2021). What about the consumer choice? The influence of social sustainability on consumer's purchasing behavior in the Food Value Chain. European Research on Management and Business Economics, 27(1), 100134.
Vangeli, A., Małecka, A., Mitręga, M., & Pfajfar, G. (2023). From greenwashing to green B2B marketing: A systematic literature review. Industrial Marketing Management, 115, 281-299.
Weber, J. L. (2018). Corporate social responsibility disclosure level, external assurance and cost of equity capital. Journal of Financial Reporting and Accounting, 16(4), 694-724.
Zhang, D. (2022). Environmental regulation and firm product quality improvement: How does the greenwashing response?. International Review of Financial Analysis, 80, 102058.
Zhang, D. (2023). Can digital finance empowerment reduce extreme ESG hypocrisy resistance to improve green innovation?. Energy Economics, 106756.
Zulkarnaen, W., Fitriani, I., & Yuningsih, N. (2020). Pengembangan Supply Chain Management Dalam Pengelolaan Distribusi Logistik Pemilu Yang Lebih Tepat Jenis, Tepat Jumlah Dan Tepat Waktu Berbasis Human Resources Competency Development Di KPU Jawa Barat. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(2), 222-243. https://doi.org/10.31955/mea.vol4.iss2.pp222-243.
Arouri, M., El Ghoul, S., & Gomes, M. (2021). Greenwashing and product market competition. Finance Research Letters, 42, 101927.
Blazkova, T., Pedersen, E. R. G., Andersen, K. R., & Rosati, F. (2023). Greenwashing debates on Twitter: Stakeholders and critical topics. Journal of Cleaner Production, 139260.
Blome, C., Foerstl, K., & Schleper, M. C. (2017). Antecedents of green supplier championing and greenwashing: An empirical study on leadership and ethical incentives. Journal of Cleaner Production, 152, 339-350.
Boncinelli, F., Gerini, F., Piracci, G., Bellia, R., & Casini, L. (2023). Effect of executional greenwashing on market share of food products: An empirical study on green-coloured packaging. Journal of Cleaner Production, 391, 136258.
Braga, S., Martínez, M. P., Correa, C. M., Moura-Leite, R. C., & Da Silva, D. (2019). Greenwashing effect, attitudes, and beliefs in green consumption. RAUSP Management Journal, 54, 226-241.
De Freitas Netto, S. V., Sobral, M. F. F., Ribeiro, A. R. B., & Soares, G. R. D. L. (2020). Concepts and forms of greenwashing: A systematic review. Environmental Sciences Europe, 32(1), 1-12.
Ferrón‐Vílchez, V., Valero‐Gil, J., & Suárez‐Perales, I. (2021). How does greenwashing influence managers' decision‐making? An experimental approach under stakeholder view. Corporate Social Responsibility and Environmental Management, 28(2), 860-880.
Eliwa, Y., Aboud, A., & Saleh, A. (2021). ESG practices and the cost of debt: Evidence from EU countries. Critical Perspectives on Accounting, 79, 102097.
García, C. J., Herrero, B., Miralles-Quirós, J. L., & del Mar Mirallles-Quirós, M. (2023). Exploring the determinants of corporate green bond issuance and its environmental implication: The role of corporate board. Technological Forecasting and Social Change, 189, 122379.
Gatti, L., Seele, P., & Rademacher, L. (2019). Grey zone in–greenwash out. A review of greenwashing research and implications for the voluntary-mandatory transition of CSR. International Journal of Corporate Social Responsibility, 4(1), 1-15.
Guo, R., Zhang, W., Wang, T., Li, C. B., & Tao, L. (2018). Timely or considered? Brand trust repair strategies and mechanism after greenwashing in China—from a legitimacy perspective. Industrial marketing management, 72, 127-137.
Gregory, R. P. (2023). When is greenwashing an easy fix?. Journal of Sustainable Finance & Investment, 13(2), 919-942.
Hassan, A. M., Roberts, L., & Atkins, J. (2020). Exploring factors relating to extinction disclosures: What motivates companies to report on biodiversity and species protection?. Business Strategy and the Environment, 29(3), 1419-1436.
Hemmings, P., Mulheron, M., Murphy, R. J., & Prescott, M. (2023). Investigating the robustness of UK airport net zero plans. Journal of Air Transport Management, 113, 102468.
Kim, E. H., & Lyon, T. P. (2015). Greenwash vs. brownwash: Exaggeration and undue modesty in corporate sustainability disclosure. Organization Science, 26(3), 705-723.
Li, W., Li, W., Seppänen, V., & Koivumäki, T. (2023). Effects of greenwashing on financial performance: Moderation through local environmental regulation and media coverage. Business strategy and the environment, 32(1), 820-841.
Lu, Z., Lin, Y., & Li, Y. (2023). Does corporate engagement in digital transformation influence greenwashing? Evidence from China. Finance Research Letters, 104558.
Lyon, T. P., & Montgomery, A. W. (2013). Tweetjacked: The impact of social media on corporate greenwash. Journal of business ethics, 118, 747-757.
Mateo-Márquez, A. J., González-González, J. M., & Zamora-Ramírez, C. (2022). An international empirical study of greenwashing and voluntary carbon disclosure. Journal of Cleaner Production, 363, 132567.
Montero-Navarro, A., González-Torres, T., Rodríguez-Sánchez, J. L., & Gallego-Losada, R. (2021). A bibliometric analysis of greenwashing research: a closer look at agriculture, food industry and food retail. British Food Journal, 123(13), 547-560.
Mustofa, A. W., & Trisnaningsih, S. (2022). STUDI LITERATUR : URGENSI PENERAPAN CORPORATE SOCIAL RESPONSIBILITY (CSR) DALAM PERUSAHAAN. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 6(2), 809-819.
Nyilasy, G., Gangadharbatla, H., & Paladino, A. (2014). Perceived greenwashing: The interactive effects of green advertising and corporate environmental performance on consumer reactions. Journal of business ethics, 125, 693-707.
Olatubosun, P., & Nyazenga, S. (2019). Greenwashing and responsible investment practices: empirical evidence from Zimbabwe. Qualitative Research in Financial Markets, 13(1), 16-36.
Priyanto, A., & Robiyanto, R. (2020). FACTORS AFFECTING SUSTAINABLE GROWTH RATE ON MANUFACTURING COMPANIES IN INDONESIA STOCK EXCHANGE PERIOD 2015-2018. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 4(2), 1-21.
Rahman, S. U., & Nguyen‐Viet, B. (2023). Towards sustainable development: Coupling green marketing strategies and consumer perceptions in addressing greenwashing. Business Strategy and the Environment, 32(4), 2420-2433.
Schmuck, D., Matthes, J., & Naderer, B. (2018). Misleading consumers with green advertising? An affect–reason–involvement account of greenwashing effects in environmental advertising. Journal of Advertising, 47(2), 127-145.
Seele, P., & Schultz, M. D. (2022). From greenwashing to machinewashing: a model and future directions derived from reasoning by analogy. Journal of Business Ethics, 178(4), 1063-1089.
Testa, F., Iovino, R., & Iraldo, F. (2020). The circular economy and consumer behaviour: The mediating role of information seeking in buying circular packaging. Business Strategy and the Environment, 29(8), 3435-3448.
Torelli, R., Balluchi, F., & Lazzini, A. (2020). Greenwashing and environmental communication: Effects on stakeholders' perceptions. Business strategy and the Environment, 29(2), 407-421.
Toussaint, M., Cabanelas, P., & González-Alvarado, T. E. (2021). What about the consumer choice? The influence of social sustainability on consumer's purchasing behavior in the Food Value Chain. European Research on Management and Business Economics, 27(1), 100134.
Vangeli, A., Małecka, A., Mitręga, M., & Pfajfar, G. (2023). From greenwashing to green B2B marketing: A systematic literature review. Industrial Marketing Management, 115, 281-299.
Weber, J. L. (2018). Corporate social responsibility disclosure level, external assurance and cost of equity capital. Journal of Financial Reporting and Accounting, 16(4), 694-724.
Zhang, D. (2022). Environmental regulation and firm product quality improvement: How does the greenwashing response?. International Review of Financial Analysis, 80, 102058.
Zhang, D. (2023). Can digital finance empowerment reduce extreme ESG hypocrisy resistance to improve green innovation?. Energy Economics, 106756.
Zulkarnaen, W., Fitriani, I., & Yuningsih, N. (2020). Pengembangan Supply Chain Management Dalam Pengelolaan Distribusi Logistik Pemilu Yang Lebih Tepat Jenis, Tepat Jumlah Dan Tepat Waktu Berbasis Human Resources Competency Development Di KPU Jawa Barat. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(2), 222-243. https://doi.org/10.31955/mea.vol4.iss2.pp222-243.
Published
2023-12-08
How to Cite
Sari, D., & Windijarto, W. (2023). THE MITIGATING FACTORS OF GREENWASHING : A SYSTEMATIC LITERATURE REVIEW. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 7(3), 1693-1704. https://doi.org/10.31955/mea.v7i3.3582
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Articles
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