The general ambition of the paper is to contribute with insight on adoption of sustainable business practices undertaken by a company. This ambition coincides with the need for more research on business models for sustainability as this research area is in an initial phase of development. A sustainable business model (SBM) framework is presented consisting of 11 categories of sustainability approaches. These categories relate to environmental, social and economic sustainability. A three-dimensional value frame, specifying value creation, value delivery and value capture, is integrated with this SBM framework to form a matrix. This matrix allows for identifying different roles of various stakeholder groups (including the company itself) in relation to initiation, delivery, and capture of value concerning the categories of sustainability approaches. Based on this the purpose of the study is to extend the understanding of how a company can initiate, deliver, and capture value for and with stakeholders within the scope of a sustainable business model (SBM). Inter IKEA Group (referred to as IKEA) was chosen as a preferred case due to the progress the company has made over time across the domains of environmental, social, and economic sustainability. The empirical data consists of 912 measurement points that was collected from three annual sustainability reports published in 2020, 2021 and 2022 by the case company IKEA. Consolidated findings across the three years indicate that while the company typically takes the role as the initiator of sustainability business practices, the delivery of value is either carried out by the company itself or co-delivered with various partners. The most common benefactor of the value capture is society at large. This could be seen as the company driving sustainable business practices, though they might not reap the immediate benefits. Implications for managers and researchers are included.