Corporate social responsibility (CSR) has been widely diffused and it getsmanifested through the stakeholder relationships a firm. We do in this pa-per investigate CSR certificates and their impact on the adopting firm. Weexplore real estate firms – a conservative industry that traditionally havehad a very strong financial focus where their market strategy has followeda strict goods-dominant (G-D) logic but where some firms changes theirmindshift towards service-dominant (S-D) logic thinking. Thus, we build onmultiple sources of data to explore Swedish real estate firms and studytheir approaches to CSR. Our results offer some insights in the character-istics of firms with green environmental certification systems and it has im-plications for how theories on value cocreation needs to be developed.