Creating shared value strategies to reach the United Nations sustainable development goals: Evidence from the mining industry

Abstract

The concept of shared value creation implies that firms can concomitantly create both monetary and social values by focusing on the needs and challenges of society. The definition of “shared value” has been extended within multiple doctrines. Its present expression is obscure, covers numerous other (related) ideas, and lacks factual establishment. The primary purpose of this research is to clarify the meaning of shared value in the mining industry by using terms from the stakeholders’ and strategy literature. To this end, a sample list of 27 mining firms was acquired from the International Council on Mining and Metals (ICMM). In addition, a complete examination based on secondary sources, such as corporate social responsibility reports was made. The evidence shows that the framework proposed requires the following terms to clarify the meaning of shared value: creating shared value strategies, types of processes in the industry, initiatives, stakeholders, and sustainable development goals.