Exploring the impact of green corporate social responsibility and sovereign sustainability practices on corporate green performance

Environmental awareness has become more widespread and corporations must now follow international conventions. Organizations have acknowledged the imperative for ecological preservation as a result of worldwide environmental issues and the increasing societal prospects for Corporate Social Responsibility (CSR). Despite the body of literature already in existence, few studies have studied the connection among a company's green performance (FGP) and green corporate social responsibility (GCSR). The moderator function of Social Responsibility of Markets (SRM) and the mediator role of pro-green behaviour (PGB), green corporate image (GCI) in establishing the GCSR-FGP relationship are not well shown. Therefore, we endeavor to answer these research questions by using a standardized questionnaire from 500 workers of companies operating in India and employing the Smart PLS analyse the data. The study finds that Green Corporate Social Responsibility (GCSR) positively impacts Firm Green Performance (FGP) with significant values (T = 9.851, P = 0.000) and a beta coefficient of 0.419. Furthermore, the analysis reveals that Pro-Green Behavior (PGB) acts as mediator in the relationship between GCSR and FGP, with values (T = 2.157, P = 0.031) and a beta coefficient of 0.044. The research also evaluates the moderating role of the Social Responsibility of Markets (SRM) to environmental sustainability. The results indicate that SRM positively moderates the relationship between GCI and FGP, with significant values (T = 2.157, P = 0.031) but does not moderate the relationship between PGB and FGP, as evidenced by non-significant values (T = 0.380, P = 0.704). The findings also reveal that GCSR improves FGP, supporting the green theory. The findings of this study bring empirical research on GCSR and social responsibility of markets to the literature which may help a company build goodwill with all stakeholders.