The toxic waste management towards corporates' sustainable development: A causal approach in Vietnamese industry

Abstract

Effective toxic waste management is critical for sustainable development, as toxic waste has a severe impact on both ecosystems and human health. However, the relationship between toxic waste management and corporate effectiveness and its impact on various aspects of sustainable development has remained unclear due to a lack of previous studies examining the interrelationships of these attributes under uncertainty, particularly in emerging countries. This study addresses this gap by presenting a cause–effect model that utilizes qualitative information and linguistic preferences to explore perceptions of toxic waste management and its influence on Vietnamese industry practices. To ensure the reliability and validity of the selected attributes, the study employs the fuzzy Delphi method, which combines fuzzy set theory with crisp numbers to transform qualitative information and linguistic preferences into meaningful data. At the same time, this study applies the decision-making trial and evaluation method (DEMATEL) to address the interrelationships among the proposed attributes. From a set of 7 aspects and 33 criteria, which are identified from previous documents and experts’ preferences, the study finds that environmental protection regulations, environmental perceptions of corporations, and financial resources are the key drivers of enhancement in corporate prospects for sustainable development, corporate social responsibility, and the adoption of new technologies and policies for toxic waste management. The study also identifies five critical criteria, including comprehensive institutional vision, legislation enforcement, municipal operations, financial resources, technical capacity and competitive advantages, that can play crucial roles in enhancing corporate toxic waste management practices. Based on these significant findings, this study discusses both theoretical and practical implications.