Preface

Globalization and sustainability issues have been gaining momentum in the last few years, thus shedding unprecedented light on the interrelatedness of the underlying concepts as well as on their cross-cultural dimensions. They range from the trade-off between global and local aspects to the urban-rural divide, from global health security to international migration flows, and from climate change to the so-called glocalization of technocultures, to mention just a few topics. Turning to sustainability, it is natural to evoke the 2030 Agenda adopted by the United Nations in 2015 as a strategic to-do list, which sounds like an invitation to focus on its Sustainable Development Goals (SDGs) and associated targets; areas of growing interest encompass, but are not limited to, sustainable growth, tourism, and food systems.

Within this scenario, special attention needs to be devoted to financial implications, due to their pervasiveness. Nobody would question the key role that finance plays to complement the real sphere of the economy and that has increasingly attracted both academics and practitioners. The global side of the coin features, among others, financially connected markets, international financial exchanges, and financial conglomerates that provide valuable opportunities in terms of international corporate finance. In addition, recent advances have involved a wider recourse to environmental, social, and governance (collectively known as ESG) factors, allowing forward steps towards a more inclusive financial system and making digital finance a must, rather than an option, even though much remains to be accomplished, for instance, to facilitate access to formal financial channels in many underdeveloped regions.

This book includes nine chapters that discuss recent advances, new perspectives, and emerging issues involving globalization and sustainability, providing readers with a comprehensive overview of related multi-faceted dimensions. Examples and scientific details support the presented information; all the chapters have been written to provide enough technical information for both general and professional readers.

Chapter 1 is about "our globalization era among success, obstacles and doubts." The authors Arnaldo Canziani, Annalisa Baldissera, and Ahmad Kahwaji point out that "in the last decades, the never-ending and unlimited expanding of both international economies and operations became globalization." They conduct an in-depth analysis, which leads to emphasize the problematic alternative for globalized companies between "the world as our next door" and their social responsibilities and to recall the similar problem for host countries, between socioeconomic advantages and protection of local workers, resources, and environment.

Chapter 2 revolves around the intrinsic meaning of sustainability and excellence, which are conceived as "pillars for business survival" by authors Irina Severin, Maria Cristina Dijmarescu, and Mihai Caramihai. They review management models, starting with self-assessment (ISO 9004) and continuing with the European Foundation for Quality

Management (EFQM) Excellence Model, and conclude that "embedding excellence and sustainability into business strategic objectives allows the management to define the framework for competitive continuous improvement."

Chapter 3 is aimed at "rethinking an approach for sustainable globalization." It is authored by Parakram Pyakurel, who "explores the complex interaction between globalization and sustainability and proposes an approach for sustainable globalization." Conclusions draw upon an approach to sustainable globalization based on holistic interactions among the environment, economy, and society.

Chapter 4 introduces a scientific research project designed to build an observatory of sustainable development in postgraduate study plans in Baja, California. According to authors Rodolfo Martinez-Gutierrez, Maria Marcela Solis-Quinteros, Maria Esther Ibarra-Estrada, and Angel Ernesto Jimenez-Bernardino, this initiative "will allow a systemic analysis to be carried out in higher education institutions that incorporate the dimension of sustainability in their study plans, through teaching, research, and university management."

Chapter 5 discusses Italy's small exporting companies and their globalization and sustainability issues. Authors Roberta Pace and Francesca Mandanici analyze the characteristics of a subset of these companies between 2011 and 2020, as well as their performance over the same period, based on reliable data, and conclude that they are better off than non-internationalized companies in terms of economic and financial sustainability.

Chapter 6 discusses the relationship between sustainability and social investment by examining community microhydropower systems in the Dominican Republic. According to authors Michela Izzo, Alberto Sánchez, and Rafael Fonseca, these systems, managed by local groups, have proven to be successful and demonstrate "the meaning of sustainability and the positive nonmonetary impacts of social investing, opening future opportunities to expand the present 5% of private investment.

Chapter 7 examines the evolution of the financial contribution provided by the European Union (EU) to climate change. Cecilia Camporeale, Roberto Del Ciello, and Mario Jorizzo explore the public climate finance implemented by the EU as a whole and its Member States. The analysis shows that "it is possible not only to highlight the amount allocated to the challenge against climate change but also to break it down into its two meanings: mitigation and adaptation, as well as to identify the type of channel through which this support has been implemented."

Chapter 8 deals with the role of mobile money and, in more general terms, digital payments to promote financial inclusion and ultimately fulfill the SDGs in Africa. According to authors Bruno Lule Yawe, John Ddumba-Ssentamu, John Bosco Nnyanzi, and Ibrahim Mukisa, economically challenged people to need a combination of knowledge, skills, attitude, and habits for the poverty trap to be alleviated and hopefully eliminated. To this end, financial inclusion programs should build appropriate intellectual competencies, such as those that stem from financial literacy, problem-solving skills, and emotional intelligence, as well as from financial capability.

Finally, in Chapter 9 Ashraf Mansour revisits the pooling risk framework in Universal Health Coverage. The objective is to transform the existing three-dimensional pooling risk framework of the health insurance Bismarck Model to accelerate the pursuit of health-related SDGs and ultimately create healthy lives and wellbeing for the population, particularly in low-income and less developed countries.

Overall, this book gives readers a cross-cultural vision of globalization and sustainability issues. It is a useful and valuable resource for individuals and companies interested in the evolving trends pervading the areas under investigation, as well as researchers in academia, policymakers, and practitioners in several industries.

The editor greatly appreciates all the contributors to this editorial initiative and is confident that it will spur further discussion on the topics covered by each of them. Special thanks go to Author Service Manager Ms. Jelena Vrdoljak at IntechOpen for her kind support.

> **Margherita Mori** Department of Industrial and Information Engineering and of Economics – Economy Area, University of L'Aquila, Italy
