["Corporate Social Responsibility and Environmental Management, EarlyView. ", "\nABSTRACT\nUsing an integrated framework that combines the natural resource‐based view with contingency theory, this study examines how environmental management control systems (EMCS) build multinational firms' environmental capabilities and balance their environmental and economic performance while accounting for cross‐country contextual conditions. We use survey and archival data from firms in Thailand, Vietnam, Japan, and Germany to show that EMCS improve environmental outcomes in energy, water, CO2, waste and hazardous waste. EMCS also indirectly enhance return on equity and total factor productivity by improving energy and CO2 performance, whereas traditional environmental management systems show no significant effects. When EMCS are disaggregated, personnel and cultural controls are most strongly associated with performance improvements. The effectiveness of EMCS appears largely robust across countries, with some variation reflecting differences in cultural and governance contexts. Overall, the findings demonstrate how EMCS create environmental capabilities that translate into economic benefits across diverse institutional contexts.\n"]