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The recent meeting of G-20 world leaders, held in New Delhi, in 2023, highlighted that the physical effect of climate change has considerable macro-economic costs at the national and global levels and they have also pledged to accelerate the clean, sustainable and inclusive energy transition along a variety of pathways. Climate change could pose various emerging risks to the firm’s operational and financial activities, specifically for those which are belonging to the energy sector. Thus, this study aims to investigate the impact of climate risks on the financial performance of select energy companies from G-20 countries.

The study considered 48 energy companies from G-20 countries as the sample for the period of 2017 to 2021. To measure the climate change-related physical risks, the study has considered the ND-GAIN climate vulnerability score and the firm’s financial performance has been measured by return on assets, return on equity, return on capital used and price-to-book ratio. To examine the impact of climate risks on the financial performance of the sample companies, the authors have used pooled ordinary least squares (OLS) and fixed/random effect regression analysis and required data diagnosis tests are also performed.

The empirical results suggested that climate risks negatively impacted the financial performance of the sample companies. The market performances of the firms are also being impacted by the physical climate change. The results of panel data regression analysis also confirmed the robustness of the empirical results derived from the pooled OLS analysis suggesting that firms that operated in a less climate-risky country, financially performed better than the firms that operated in a more climate-risky country.

The paper has significant practical implications like it could be helpful for the policymakers, investors, suppliers, researchers and other stakeholders in developing deeper insights about the impact of climate risks on the energy sectors from an international perspective. This study may also help the policymakers in developing policies for the management of climate risk for the energy sector.

This study adds insights to the existing literature in the area of climate risks and firm’s financial performance. Moreover, this may be the first study that attempts to evaluate the impact of climate risks on the financial performance of select energy companies from the G-20’s perspective.

This study aims to evaluate the structural oil shocks effect on stock returns of Indian renewable energy companies across market conditions.

This study applies the structural vector autoregression model to estimate sources of oil shocks such as oil supply shock, aggregate demand shock and oil price-specific demand shock. In the next step, the panel quantile regression model estimates the effect of these oil shocks on stock return across market conditions. Monthly data are collected from January 2009 to December 2019. All renewable energy companies listed on the National Stock Exchange of India are considered for the analysis.

In the whole sample analysis, this study finds that oil shocks negatively affect stock returns in most of the market conditions except oil price-specific demand shock. In sub-groups, oil shocks driven by supply and aggregate demand also negatively affect stock return in most market conditions. This study finds the positive interaction of oil price-specific demand shock. A majority of these positive interactions happen in bearish market conditions. In the whole sample, the asymmetric effects of shocks driven from oil supply and oil price-specific demand are seen in most quantiles or market conditions. At the same time, aggregate demand shock does not affect asymmetrically. In the sub-group analysis, standalone renewable energy companies stock returns are least asymmetrically affected by these oil shocks. The asymmetries of oil supply-driven shock on stock returns of the renewable energy sub-group companies are found in most quantiles.

First, this is a company-level study of the stock returns response to the structural oil shocks in the renewable energy sector. Second, to the best of the authors’ knowledge, this type of study is the first in the Indian context. Third using panel quantile regression model along with capital asset pricing model framework, the authors investigate these effects across market conditions.

The purpose of this paper is to enhance the understanding about how energy supply chains work to build resilience against exogenous security threats and thereafter what support mechanisms should be introduced or improved by the European Union.

Five case studies and data collection from multiple sources is used to understand what exogenous security threats could lead to the disruption of oil and gas flows to Europe, how energy companies, from a supply chain perspective, are working to manage these threats and finally, how the EU may coordinate the security of the energy sector in collaboration with supply chain companies.

Results show that today, oil and gas supply chains have in place a good combination of disruption strategies, including portfolio diversification, flexible contracts, transport capacity planning and safety stocks. The most relevant security threats the companies fear, include hijacking of vessels (sea piracy), but also terrorism, and wars. Finally, the study highlights that the European Union has built a comprehensive portfolio of strategies to deal with scarcity of oil and gas resources. However, these approaches are not often synchronized with supply chain strategies.

The paper provides guidance for supply chain managers dealing with critical suppliers located in conflict environments. The paper recommends that supply chain managers fine tune their strategies in coordination with governmental actions in foreign politics, dependence reduction and crisis management. This may be achieved by closer communication with governments and potentially through the creation of a pan-European sector alliance.

Previous research discusses the topic of supply chain resilience and supply chain risk management. However, none of these studies report on exogenous security threats and disruption strategies of oil and gas supply chains. At the same time, previous research lacks detailed studies describing the interaction between governments and energy supply chains.

The purpose of this paper is to present advances towards a social intrapreneurship department within energy corporations. By drawing on the literature on social intrapreneurship and stakeholder theory, this paper provides a conceptual proposal for an organisational structure. This paper builds on the notion of bridging and boundary organisations, to suggest an organisational innovative structure as a social intrapreneurship endeavour focussing on the increasing salience of weak stakeholders in energy corporations from the energy justice approach.

This paper draws on the literatures on social intrapreneurship and stakeholder theory, to provide arguments and an organisational proposal to alleviate energy poverty in energy corporations.

The results are presented in a conceptual process model for the development of Social Energy Department units within large energy companies, illustrating their embeddedness in both societal and company-level processes to facilitate social intrapreneurship initiatives that would alleviate energy poverty in the just transition.

The paper promises novel insights at the nexus of social enterprise and organisational change. The practical applicability is particularly promising, as it focusses on integrating novel units in energy companies and stimulates further research on models of social intrapreneurship to tackle energy poverty.

The paper offers both practical and theoretical contributions to the stakeholder theory field with insights from social intrapreneurship and organisational stakeholder theory in the context of a specific social problem – energy poverty, energy justice and the just energy transition.

Considering the dearth of industry-specific empirical research exploring sustainability reporting in the context of developing countries, this chapter aims to critically examine the extent and the nature of sustainability information disclosure of environmentally polluting industries in India.

Data are collected from business responsibility reports (BRRs), sustainability reports, Corporate Social Responsibility (CSR) reports and integrated reports of all 57 energy and mining companies included in NIFTY500 Index at National Stock Exchange of India for the year 2017–2018 and 2018–2019. Content analysis is used to examine the sustainability disclosure practices and one-way analysis of variance (ANOVA) statistical analysis is performed to test the difference across various dimensions of sustainability reporting of companies.

The results indicate low environmental reporting of the key indicators by energy and mining companies in India. It is found that state-owned companies have better social reporting practices against private sector companies. The findings also indicate that Global reporting initiative (GRI) based reporting have better sustainability disclosure practices and companies reporting based on BRR lack quantitative information disclosure.

The findings of the present chapter have several implications for policymakers, investors, regulators and management of these high environmental and social impact companies in India. The findings which coincide with the key areas of sustainability disclosure can be used for improving sustainability disclosure practices by the various stakeholders.

This is one of the first studies to investigate the nature and extent of sustainability performance disclosure of the companies from polluting industries in India. This chapter also contributes to the existing sustainability reporting literature by providing evidence on industry-specific disclosure in the context of a developing country.

The chapter aims to examine the number, type, and international presence of European companies (Italian, Spanish, French, German, Dutch, Rumanian, Bulgarian, and English) operating in the renewable energy industries, as well as Chinese companies. Through the analysis of two businesses that have established partnerships and a wholly foreign owned enterprise (WFOE) in China, the chapter identifies the main elements of their management strategies that led to successful operation in China.

To analyze the main characteristics and the internationalization of the European firms operating in the renewable energy industry, we collected information from secondary data. To identify the successful business models to operate successfully in China, we adopted a qualitative case study approach, based on direct interviews and information published on the company websites and articles found on the web.

European enterprises encounter difficulties in approaching the Chinese market, which is rapidly developing as a result of the latest five-year plan setting energy and climate change targets and policies. Indeed, the number of European firms investing in China is low. Through the analysis of two business cases (Asja and Caleffi) that have established partnerships and a WFOE in China, the chapter identifies the main elements of their management strategies that led to successful operation in China.

The relatively small number of cases (two) limits the generalizability of our findings. However, we are convinced that the size of our case companies and their experience in China mean our results are well grounded, although more research is needed.

To the best of our knowledge, this is the first study that has explored the business models adopted by European firms operating in the renewable energy industry in China.

The study aims to investigate the relationship between renewable energy use and financial performance in non-financial companies in European countries.

This study examines a panel data set consisting of 1,919 firm-year observations of non-financial companies operating in 13 European nations, covering the period from 2014 to 2021. The study uses the ordinary least squares (OLS) and the two-stage least squares method (2SLS) as the baseline models and further enhances robustness with sub-sample analysis.

The results demonstrate a positive link between renewable energy use and financial performance, and these results hold up across different measurements, sub-sample analysis and model specifications, demonstrating their robustness. Furthermore, the results indicate that some factors such as the industry nature and environmental, social and governance (ESG) controversies have an impact on this positive association.

The findings are substantial for both policymakers and companies, highlighting the benefits of incorporating renewable energy into their operations for improved business success.

This study adds to the existing body of literature on the effect of environmental performance on a company’s success by focusing on a novel aspect – the correlation between renewable energy usage and firm performance. It responds to the recent request from researchers to investigate different aspects of sustainability, with a specific emphasis on renewable energy, which is a vital factor in reducing carbon emissions and improving financial performance.

The purpose of this paper is to determine inasmuch energy suppliers dedicate communicative resources toward sustainable development and corporate social responsibility (CSR), also paying attention to how they frame it, and if they manage to achieve consistency in their communication or fall victim to contradictions.

By use of a qualitative content analysis, online communication tools (information on corporate websites) as well as content for download were examined in detail. The present study sample comprised of 12 case studies from selected countries (Austria, Russia, Germany, the USA, France and Korea).

Overall, findings indicate that CSR has already been implemented in most energy and energy-related industries; however, it is put forward with varying degrees of attention and intensity, depending on which topics energy companies choose to address communicatively (results were classified according to a frame positioning scheme by Weder, 2012, 2018). Results underscore the fact that, at times, companies are struggling to link their CSR projects back to their core businesses. Yet, a clear trend to politicization can be described as a strong correlation of communication strategies of energy suppliers and political programs of the respective country becomes obvious.

Limited research as to how CSR topics are framed in different branches has been conducted to date; likewise, the energy sector, whose motives has been often subject to public questioning, has received little attention in CSR communication research to date. Hence, ambiguities were presumed to exist.

The present study examines the relevance and framing of CSR in a highly competitive, centralized industry that is challenged by a global process of transition to renewable energy. The results show that the analyzed energy suppliers offer only a limited variety of issue-specific frames; instead CSR as well as sustainability are (ab)used as master frames or “buzz words” in a fairly shallow economic or socio-political argumentation.

The purpose of this paper is to critically analyse and problematize the relations between international forestry companies and wood energy in the context of climate change in Chile and Sweden.

Based on interviews, field observations and analysis of documents, case studies of international forestry companies and wood energy in local areas of Chile and Sweden are examined comparatively. A conceptual framework combining political ecology and environmental communication is developed to approach the cases.

The paper finds that the two international forestry companies studied here have widely incorporated the use of wood energy as a renewable and carbon neutral energy strategy for their forestry business. Second, the paper finds that wood energy is used as a way to reproduce forestry development in the two countries, which is contested by NGOs and activists which are today articulating critical approaches to forestry development in the two countries. Third, related to the former finding, the paper finds that the incorporation of wood energy into the forest sector’s interests in Chile and Sweden takes place in the context of important social-ecological conflicts related to industrial forestry development.

The paper’s analytical framework helps to analyse the social-ecological nature of international business and the way they organise material practices and communicative meaning around renewable energy. The paper’s findings and analysis shed light on important problematic aspects of the material and symbolic struggles around renewable energy in the context of climate change. The comparative dimension of the analysis has the value to offer a cross-border analysis to improve the understanding of some of the most important aspects of international businesses concerning wood energy today.

The Russian Energy Service Company (ESCO) market emerges rapidly due to the new energy efficiency legislation that has been implemented since 2009. However, a clear identification of the Russian ESCOs, comparable to those operating on the basis of Energy Performance Contracting (EPC) in the Western markets, remains rather difficult. Hence, aside from the independent ESCOs identified, further energy service‐providing companies (ESPCs) are within the scope of this survey. This paper aims to address these issues.

Building on comprehensive qualitative research of the international and Russian academic and non‐academic literature on the ESCO concept and an expert interview, an explorative, questionnaire‐based survey among 161 Russian energy companies and organizations was conducted. A total of 28 usable responses were returned, corresponding to a response rate of 17 per cent. Non‐parametric exact tests are used for the statistical analysis.

The authors' findings show that only nine of the surveyed ESCOs have acquired energy performance‐based projects. In line with the new energy efficiency legislation, such projects are strongly supported in the state sector but much less so in the commercial sector. Most of the projects are financed either through ESCOs' own funds, direct loans to customers, or by the customers themselves. Russian banks, however, rarely provide direct loans for energy performance‐based projects of ESCOs, but rather prefer to offer financial leasing contracts. The contractual form “guaranteed savings”, which is generally more applicable in mature ESCO markets, is gaining in importance, while “shared savings” is barely used.

This paper delivers, to the best of the authors' knowledge, the first systematic empirical investigation of the Russian ESCO industry, taking into account experiences from the international ESCO markets.