This study stems from global challenges caused by ecological reconstruction and economic system reorientation. These changes affect businesses, policies, and societies in multiple ways. For example, global value networks are in transition due to climate pressure, demographic change, and technological development altering consumption and market behaviour. These changes create high expectations for policy and business model changes, but opinions are divided on the direction and means of change. This study explores the perspectives of stakeholders at multiple-levels: EU, national and firm on advancing sustainability objectives. Building on literature on socio-political networks and collective agency, the empirical data was collected from individual and focus group interviews with the multi-level stakeholders dealing with sustainability issues. The study shows that while trying to advance sustainability as well as the global competitiveness of European industries, the different actors face both synergies and controversies between these objectives, and identifies three dilemmas. By thus enlightening the complexity of objectives and processes of collective agency, the study opens up new avenues for research particularly on international business policy, and offers recommendations to both business managers and policymakers aiming at strengthening the sustainability of individual businesses and economies at large.