The adoption of environmental strategies in large Colombian businesses

108 | Carlos Fúquene Retamoso

There were not observed environmental practices associated to imitation of competitors´ best practices. For example, they have been certified under ISO 14001 since 2004 (BVQI, 2004) and subscribed to Global Compact since 2004 (Utility Company, 2015). In the meantime, its closest competitor in energy operations was certified under ISO 14001 nine years later (Competitor, 2013) and subscribed to Global Compact in 2006, two years after Utility Company (Competitor, 2018) In 2016, Utility Company was the number one in the power generation business, achieving a small advantage over its main competitor. In fact, Utility Company holds 19.9% of the market, while its main competitor holds 18.46% (Utility Company, 2016a). The power generation sector in Colombia operates under an oligopolistic structure wherein three companies have a moderate concentration of the market (Moreno et al., 2014), including the case under analysis. According to the requirements for the execution of power projects, companies must comply with the same requirements for environmental management plans in order to win the bid. Because of that, there is no significant difference in the environmental practice proposals among the companies that compete for this type of projects. Table 19 shows a summary of ESA factors found at the Business Context dimension. Finally, in addition to coercive and normative pressures, the power industry is sensitive to climate variability. Due to reliance on hydraulic availability and exposure to scarcity during dry periods (e.g., El Niño phenomenon), the power sector relies on the rainfall regime. Colombia is supported on hydropower generation (77%) and thermal generation plants (18%) (CREG, 2006). In order to counter the risk of supply shortages, Colombian regulators have implemented a financial scheme to cover the energy generation costs during dry periods through alternative sources, mainly coal. Table 18. Business Context – Utility Company. esa factor

The adoption of environmental strategies in large Colombian businesses

Articles inside

Table 40. Factors for the adoption of environmental strategies

Table 39. ESA and ESA Factors across cases

Table 38. Main ESA factors observed in the case studies

Figure 15. ESA and the ESA factors at the Dairy Company

Table 37. Main environmental strategies observed in the case studies

Table 35. Business model – Dairy Company

Figure 14. ESA and the ESA factors at the Cosmetic Company

Table 36. Manager´s Perspective – Dairy Company

Table 33. ESA –Dairy Company

Table 34. Business Context – Dairy Company

Table 32. Manager´s perspective – Cosmetic Company

Table 30. Business Context – Cosmetic Company

Table 31. Business model – Cosmetic Company

Table 29. ESA – Cosmetic Company

Table 23. Business Model – Oil & Gas Company

Table 25. ESA – Agri-business

Table 27. Business Model – Agri-business

Table 26. Business Context – Agri-business

Table 22. Business Context – Oil & Gas Company

Figure 11. ESA and the ESA factors at the Utility Company

Table 21. ESA – Oil & Gas Company

Table 20. Manager´s Perspective – Utility Company

Table 19. Business Model – Utility Company

Table 18. Business Context – Utility Company

Figure 10. ESA and ESA factors at the Chemical Company

Table 17. ESA – Utility Company

Table 16. Manager´s Perspective – Chemical Company

Table 14. Business Context - Chemical Company

Table 15. Business Model - Chemical Company

Table 13. ESA - Chemical Company

Figure 9. ESA and ESA factors at the Bank

Table 12. Manager´s perspective -Bank

Table 10. Business Context - Bank

Table 8. Selected cases

Table 11. Business Model - Bank

Table 9. ESA - Bank

Table 7. ESA and influencing factors

Figure 8. Data classification

Figure 6. Theoretical Model of ESA and ESA Factors

Table 5 Business models and environmental strategies

Table 4. Business context and Environmental Strategies

Figure 5. Collaborative networks of ESA research

Table 3 Co-occurrence configuration of ESA Factors

Table 2. Typology of environmental strategies used in this research

Figure 3. Co-word clusters in the literature review

Table 6. Manager´s perspective and Environmental Strategies

Figure 2. Distribution of articles in Journals