Trade‐offs in corporate sustainability: you can't have your cake and eat it

The mainstream of the literature on corporate sustainability follows the win–win paradigm, according to which economic, environmental and social sustainability aspects can be achieved simultaneously; indeed, corporate sustainability has often been defined by the intersection of these three areas. However, given the multi‐faceted and complex nature of sustainable development, we argue that trade‐offs and conflicts in corporate sustainability are the rule rather than the exception. Turning a blind eye to trade‐offs thus results in a limited perspective on corporate contributions to sustainable development. In order to overcome this situation, we propose an initial framework for the analysis of trade‐offs in corporate sustainability. By doing so, we pursue two aims. First, the framework serves as a starting point for a more systematic analysis of trade‐offs in corporate sustainability, as it identifies different levels and dimensions to characterize such trade‐offs. Second, it serves to contextualize the contributions to this special issue on trade‐offs in corporate sustainability. Based on the framework, we finally point to some promising avenues for future research on trade‐offs in, and a more inclusive notion of, corporate sustainability.