Sustainability and stakeholder theory in motorsports: a content study of the FIA environmental reports and the FIA environmental strategy 2020-2030
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School of Business |
Bachelor's thesis
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Date
2024
Department
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Mcode
Degree programme
(Mikkeli) Bachelor’s Program in International Business
Language
en
Pages
37
Series
Abstract
Climate change and global warming are a threat to the world we live in. It is important to investigate the world around us and the things we are surrounded by. As the threat of global warming increases, every sector is looked upon to re-evaluate its environmental impact. This extends to sectors that could currently be considered unsustainable such as motorsports. Environmental sustainability in motorsports is a relatively new thing. New environmental pressures have been introduced and modern racing experiences challenges which it needs to overcome with new environmental strategies. Racing stakeholders must manage and overcome outside pressures, including legislation changes, audience demands and future profitability questions. New sustainable technologies developed in motorsports can create value across multiple stakeholder groups. They have deep implications for combatting the public global warming emergency. As these sustainability pressures emerge, the scrutiny on reporting increases. This rapid change can lead to ineffective communication. Sustainability reporting can be confusing, inconsistent, and sparse. Efforts must be made to compare, analyse, and understand what these reports offer. Different stakeholders report sustainability in different ways. There are different standards, guidelines and frameworks that are applied. Governing bodies such as the FIA are tasked with unifying these reporting methods and their stakeholders. The FIA have developed stakeholder categorisation systems and methods of unifying their environmental strategy. FIA stakeholders have undertaken various sustainability initiatives. These initiatives are aimed at unilateral value creation and ensuring future business profitability.Description
Thesis advisor
Dellestrand, HenrikKeywords
stakeholder theory, sustainability, triple bottom line, motorsports