Risk culture and sustainability

This chapter investigates the role of risk culture as a strategic driver in fostering environmental sustainability at the board level. Building on Ajzen’s Theory of Planned Behavior, the authors explore how individual directors’ risk culture influences their behavioral, normative, and control beliefs toward the adoption of pro-environmental strategies. Using survey data from 120 Italian board members and a partial least squares model, the study finds that a stronger risk culture is positively associated with favorable attitudes and beliefs toward environmental action. The findings suggest that embedding sustainability into corporate and risk culture not only enhances ESG compliance and risk management but also acts as an internal control mechanism and a catalyst for innovation. The chapter offers both theoretical insights and practical implications for sustainable governance and public policy aimed at advancing the green transition.