Nation-states are designing their industrial policies increasingly to not only enhance national competitiveness, but also to simultaneously address “Green Challenges”, concerns about the natural environment that require concerted action among different actors in society, including domestic and foreign multinational enterprises (MNEs). This blending of global and national policy objectives is leading to a new wave of industrial policies in advanced economies that are informed by scholarly discourses in evolutionary economics, innovation systems, and 'wicked problems'. We discuss the implications of these sustainability-oriented industrial policies for MNEs. They operate in increasingly diverse local ecosystems shaped by local actors and local policies as we illustrate for two such ecosystems in Nordic countries: circular economy and energy transition. Many MNEs face a tension between capabilities they could use to help nations achieve their sustainability goals and incentives to protect existing rents and business models. They may thus engage pro-actively or reactively in both market and nonmarket realms in each country in which they operate. We discuss the interactions between MNEs, governments, and other actors in host countries pursuing both sustainability and competitiveness objectives, and outline how ensuing tensions create new challenges and opportunities for international business scholarship.

民族国家越来越多地设计其产业政策，不仅要提高国家竞争力，还要同时应对“绿色挑战”，即对自然环境的担忧，需要社会不同参与者（包括国内外跨国企业（MNE））采取协调一致的行动。这种全球和国家政策目标的融合正在引发发达经济体新一轮的产业政策浪潮，这些政策以演化经济学、创新系统和“棘手问题”方面的学术论述为基础。我们讨论这些以可持续发展为导向的产业政策对跨国企业的影响。它们在由当地参与者和当地政策塑造的日益多样化的当地生态系统中运作，正如我们以北欧国家的两个这样的生态系统为例：循环经济和能源转型。许多跨国企业在帮助各国实现可持续发展目标的能力与保护现有租金和商业模式的激励措施之间面临着紧张关系。因此，他们可能会主动或被动地参与其经营所在国家的市场和非市场领域。我们讨论跨国企业、政府和东道国其他参与者在追求可持续发展和竞争力目标时的互动，并概述随之而来的紧张局势如何为国际商业奖学金带来新的挑战和机遇。