Strategic Paths to Sustainability: A GRI-Based Comparative Analysis of Enerjisa, E.ON, and Enel in the Energy Sector

This study examines how sustainability evolves from a compliance-oriented obligation into a strategic and organizational capability within the energy sector by comparatively analysing three firms—Enerjisa, E.ON, and Enel. Using a qualitative content analysis of GRI-aligned sustainability reporting, triangulated with external ESG ratings, the research evaluates how environmental, social, and governance practices are embedded within broader corporate strategies. The findings reveal differentiated trajectories consistent with the S-curve hypothesis, which theorises a nonlinear relationship between the adoption of green business practices and firm performance. Enel illustrates a mature, fully integrated sustainability model that reinforces its competitive and reputational advantage; E.ON represents an expansion phase shaped by digital transformation and decarbonization initiatives; whereas Enerjisa reflects an early-stage, institutional-compliance orientation with emerging community and governance commitments. The results demonstrate that when GRI frameworks are mobilized not merely as disclosure mechanisms but as managerial and organisational tools, they become catalysts for innovation, stakeholder trust, and strategic repositioning. This study contributes to social science debates on corporate sustainability by linking reporting frameworks, institutional pressures, and strategic learning dynamics within a comparative, cross-national context. It also offers policy-relevant insights for regulators seeking to strengthen sustainability governance and for managers aiming to align ESG integration with long-term value creation. Future research should explore cross-sectoral dynamics, digital–ESG interactions, and the cultural and institutional conditions that enable firms to advance along the sustainability maturity curve.