The Role of Sustainable Entrepreneurship in Advancing the United Nations Sustainable Development Goals: Themes, Challenges, and Opportunities
DOI:
https://doi.org/10.47352/jbrnt.2964-0431.434Keywords:
Entrepreneurship, The Sustainable Development Goals (SDGs), OpportunitiesAbstract
Sustainable entrepreneurship entrepreneurial action that simultaneously pursues economic viability, social inclusion, and ecological integrity has moved from a niche scholarly domain to a central lever for achieving the United Nations Sustainable Development Goals (SDGs). This review synthesizes conceptual and empirical research on how sustainable entrepreneurship advances the SDGs, identifying dominant themes, mechanisms of impact, challenges, and opportunity spaces. We connect foundational theory on opportunity recognition under ecological and social constraints with contemporary work on circular economy ventures, impact investing, blended finance, and impact management standards. We further examine how national policy frameworks and ecosystem-level interventions (e.g., UNCTAD’s Entrepreneurship Policy Framework, the EU Social Economy Action Plan, and UNDP’s SDG Impact Standards) can enable entrepreneurs to contribute more effectively to SDG targets. The review surfaces persistent obstacles measurement and attribution of impact, financing gaps for early-stage and inclusive ventures, institutional voids, trade-offs and mission drift, and uneven scaling pathways while outlining promising research and practice opportunities in business model innovation for the SDGs, inclusive and frugal innovation, and outcome-aligned capital. We conclude with a research agenda and policy implications to accelerate entrepreneurship-led progress toward 2030.
References
[1] United Nations General Assembly, Transforming our world: the 2030 Agenda for Sustainable Development, A/RES/70/1, Sep. 25, 2015.
[2] GRI, UN Global Compact, and WBCSD, SDG Compass: The Guide for Business Action on the SDGs, 2015.
[3] GRI and UN Global Compact, Business Reporting on the SDGs: A Practical Guide, 2017.
[4] WBCSD, “Delivering on the Sustainable Development Goals,” 2016.
[5] D. A. Shepherd and H. Patzelt, “The new field of sustainable entrepreneurship: Studying entrepreneurial action linking ‘what is to be sustained’ with ‘what is to be developed’,” Entrepreneurship Theory and Practice, vol. 35, no. 1, pp. 137–163, 2011, doi: 10.1111/j.1540-6520.2010.00426.x.
[6] H. Patzelt and D. A. Shepherd, “Recognizing opportunities for sustainable development,” Entrepreneurship Theory and Practice, 2011, doi: 10.1111/j.1540-6520.2010.00386.x.
[7] M. Urbaniec, “Sustainable entrepreneurship: Innovation-related activities in European enterprises,” Polish Journal of Environmental Studies, vol. 27, no. 4, pp. 1773–1782, 2018, doi: 10.15244/pjoes/78155.
[8] B. Cohen and M. I. Winn, “Market imperfections, opportunity and sustainable entrepreneurship,” Journal of Business Venturing, vol. 22, no. 1, pp. 29–49, 2007, doi: 10.1016/j.jbusvent.2004.12.001.
[9] A. Anand, A. Argade, P. Barkemeyer, and E. Salignac, “Trends and patterns in sustainable entrepreneurship research,” Journal of Business Venturing, vol. 36, no. 6, 2021, [Online]. Available: https://www.sciencedirect.com/science/article/pii/S0883902621000021
[10] Work 4 Progress (W4P), “Promoting entrepreneurship for job creation,” United Nations SDG Partnerships, Accessed: Sep. 6, 2025. [Online]. Available: https://sdgs.un.org/partnerships/work-4-progress-w4p-promoting-entrepreneurship-job-creation-sdgs-15-8-9-16-17
[11] F. Rosati and L. G. Faria, “Business model innovation for the Sustainable Development Goals,” Business Strategy and the Environment, vol. 32, no. 7, pp. 3338–3353, 2023, doi: 10.1002/bse.3334.
[12] F. Azmat and A. K. Fujimoto, “Convergence of business, innovation, and sustainability at the SDGs,” Journal of Business Research, vol. 164, pp. 113–124, 2023, doi: 10.1016/j.jbusres.2023.114170.
[13] M. Geissdoerfer, D. Vladimirova, and S. Evans, “Sustainable business model innovation: A review,” Journal of Cleaner Production, vol. 198, pp. 401–416, 2018, doi: 10.1016/j.jclepro.2018.06.240.
[14] S. Baiocco, R. Ritala, and L. Cavallo, “Business model innovation in sustainable entrepreneurship,” Business Process Management Journal, vol. 29, no. 8, pp. 260–279, 2023, doi: 10.1108/BPMJ-01-2023-0059.
[15] C. G. S. Ortiz-de-Montellano et al., “How can the circular economy support the advancement of the SDGs?,” Sustainable Production and Consumption, vol. 39, pp. 876–897, 2023, doi: 10.1016/j.spc.2023.07.003.
[16] P. Puntillo, L. Ferretti, and A. Chiarello, “Circular economy business models: Towards achieving the SDGs,” Corporate Social Responsibility and Environmental Management, vol. 30, no. 6, pp. 2840–2857, 2023.
[17] J. Horne and T. Fichter, “Growing for sustainability: Enablers for the growth of impact ventures,” Journal of Cleaner Production, vol. 365, 2022.
[18] J. X. Zhan, “Investing in the Sustainable Development Goals: Mobilizing capital and improving governance,” Transnational Corporations, vol. 28, no. 3, 2021.
[19] S. Shome, P. S. Jha, and A. S. Ali, “Impact investment for sustainable development: A bibliometric analysis,” Environmental Impact Assessment Review, vol. 99, 2023.
[20] C. Flammer, “Blended finance,” NBER Working Paper 32287, 2024.
[21] UNDP, SDG Impact Standards for Enterprises, Version 1, 2021.
[22] OECD and UNDP, Impact Standards for Financing Sustainable Development, 2021.
[23] UNCTAD, Entrepreneurship Policy Framework and Implementation Guidance, 2012.
[24] European Commission, Building an Economy that Works for People: An Action Plan for the Social Economy, COM(2021) 778 final, 2021.
[25] European Commission, “Social Economy Action Plan,” DG EMPL policy page, 2021–.
[26] J. Christiansen, “Fixing fictions through blended finance: The entrepreneurial ensemble and risk interpretation in the Blue Economy,” Geoforum, vol. 120, pp. 93–102, 2021.
[27] M. Bertzky et al., The State of the Evidence on Blended Finance for Sustainable Development: An Evidence Gap Map, DEval Discussion Paper 03/2020.
[28] UNDP, SDG Impact Standards for Bonds, Version 1.0, 2021.
[29] A. Ebrahim and V. K. Rangan, “What impact? A framework for measuring the scale and scope of social performance,” California Management Review, vol. 56, no. 3, pp. 118–141, 2014.
[30] D. Schlütter, J. Edeling, and O. Hinz, “Missing the impact in impact investing research: A systematic review,” Journal of Management Studies, 2024.
[31] J. A. van Zanten and R. van Tulder, “An analysis of ESG ratings and SDG scores,” Organization & Environment, 2025.
[32] GRI and UN Global Compact, Business Reporting on the SDGs: Analysis of Goals and Targets, 2018.
[33] A. C. Pache and F. Santos, “Inside the hybrid organization: Selective coupling as a response to competing institutional logics,” Academy of Management Journal, vol. 56, no. 4, pp. 972–1001, 2013.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Mirmohammad Seyednouri, Ali Farzpourmachiani, Simin Naghibi Masouleh, Saeed Najafi, Adel Safaei, Mohammadali Rajabi Torbehbar, Mehdi Farzpourmachiani

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
- Authors retain copyright and acknowledge that the Journal of Biotropical Research and Nature Technology is the first publisher, licensed under a Creative Commons Attribution 4.0 International License.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges and earlier and greater citation of published work.




