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Article
Publication date: 2 May 2023

Alan Bandeira Pinheiro, Graziela Bizin Panza, Nicolas Lazzaretti Berhorst, Ana Maria Machado Toaldo and Andréa Paula Segatto

This study aims to investigate the effect of innovation on environmental, social and governance (ESG) performance and, consequently, its influence on the economic and financial…

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Abstract

Purpose

This study aims to investigate the effect of innovation on environmental, social and governance (ESG) performance and, consequently, its influence on the economic and financial performance of companies.

Design/methodology/approach

A quantitative and descriptive research was carried out based on secondary data from the Refinitiv Eikon® database, using the panel data regression technique, considering the constructs: innovation, ESG performance and economic and financial performance.

Findings

The results showed that companies that tend to invest more financial resources in R&D are more likely to have higher ESG performance. In addition, companies that have higher ESG performance tend to have higher economic and financial performance.

Practical implications

Managers may consider investing more resources in R&D to achieve superior ESG performance. They should be aware that ESG is a strategic tool for creating financial and nonfinancial value for the organization. More than the traditional preparation of a financial report, stakeholders demand another type of information: ESG information.

Originality/value

The results confirm the basis of Stakeholder Theory, showing that the companies that meet the needs of all stakeholders tend to have greater economic and financial performance. ESG practices can include keeping employees motivated to work, improved corporate image in the eyes of customers, more satisfied suppliers and community and environment aligned with management. Therefore, these ESG initiatives are instrumental in protecting organizational objectives as well as increasing shareholder value.

Open Access
Article
Publication date: 5 March 2024

Yogeeswari Subramaniam and Nanthakumar Loganathan

Given the importance of green finance in a discussion of energy efficiency and clean energy, it is critical to evaluate its implications for the growth of renewable energy. This…

Abstract

Purpose

Given the importance of green finance in a discussion of energy efficiency and clean energy, it is critical to evaluate its implications for the growth of renewable energy. This study examines the impact of green finance on renewable energy development in Singapore.

Design/methodology/approach

The dynamic ordinary least squares (DOLS) regression was used in this work to test such a connection.

Findings

Using the DOLS for the period 2000–2020, it was discovered that green finance aids renewable energy development in Singapore. Additionally, the findings revealed that economic growth, oil prices, energy consumption, carbon dioxide emissions and institutional factors are all positively associated with renewable energy growth, resulting in a boost in renewable energy development.

Research limitations/implications

Hence, as a result, the monetary authorities of Singapore, such as financial institutions, non-governmental organisations and corporations, should prioritise renewable energy projects under green finance initiatives to boost renewable energy growth. This may assist in raising investment flows to green projects; hence, accelerating the adoption of renewable energy.

Originality/value

Increased Singapore's initiatives to accelerate green finance have prompted this study to examine the research question of whether green finance has a significant impact on renewable energy growth. Thus, to the best of the authors’ knowledge, this will be the first empirical study to explore the impact of green finance on renewable energy growth in the case of Singapore.

Details

Journal of Asian Business and Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2515-964X

Keywords

Open Access
Article
Publication date: 12 September 2023

Eugine Tafadzwa Maziriri, Brighton Nyagadza, Tinashe Chuchu and Gideon Mazuruse

This study aims to determine the antecedents that influence attitudes towards the use of environmentally friendly household appliance products and consumers' green purchase…

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Abstract

Purpose

This study aims to determine the antecedents that influence attitudes towards the use of environmentally friendly household appliance products and consumers' green purchase intention among consumers in Harare, Zimbabwe.

Design/methodology/approach

Data were collected from 329 consumers in Harare, Zimbabwe's commercial capital who were served from five using a structured questionnaire via an online web-based cross-sectional survey. Hypothesised relationships were tested through structural equation modelling with the aid of Smart PLS software.

Findings

Green product awareness, social influence, perceived benefit and attitude towards green appliances were found to have a significant positive effect on green purchase intention.

Research limitations/implications

The study's findings may not be generalised to other contexts as sample data was only collected in Zimbabwe. Complementary cross-sectional research studies can be done in other parts of the world to enable cross-cultural comparisons and methodological validations.

Practical implications

The green appliance and energy saving practices are vastly growing, with many multinational appliance companies introducing green products within their product lines and adopting the concept of sustainability through modifications in production, design and consumption of household appliance products that encompass fewer harmful consequences on the environment in response to their concerns about the scarcity of natural resources, environmental well-being and the potential detriment of future generations.

Originality/value

Notwithstanding the limitations of the current study, the results have the potential to contribute to an improved understanding of influence attitudes towards the use of environmentally friendly household appliance products.

Details

PSU Research Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2399-1747

Keywords

Open Access
Article
Publication date: 2 January 2024

Kassim Alinda, Sulait Tumwine and Twaha Kigongo Kaawaase

The purpose of this study is to investigate the pivotal role of environmental innovations in driving sustainability practices within medium and large manufacturing firms operating…

Abstract

Purpose

The purpose of this study is to investigate the pivotal role of environmental innovations in driving sustainability practices within medium and large manufacturing firms operating in Uganda.

Design/methodology/approach

Using a cross-sectional and quantitative methodology, data were collected through a questionnaire survey involving 208 manufacturing companies. The smart partial least squares path modelling technique was used for the analysis.

Findings

The analysis unveils significant and positive associations. Specifically, product innovation exhibits a robust and affirmative relationship with sustainability practices. Similarly, the correlation between process innovation and sustainability practices emerges as statistically significant. Moreover, the findings underscore the noteworthy and constructive predictive influence of environmental innovation on sustainability practices.

Practical implications

These empirical results present substantial implications for theoretical frameworks and practical applications. From a policy perspective, the findings emphasise the importance of incentivising eco product and eco process innovations as potential drivers of eco-friendly practices. On the managerial front, strategic resource allocation and the adoption of integrated environmental innovation strategies are advocated, with the ultimate goal of enhancing sustainable business approaches within Uganda’s manufacturing subsector.

Originality/value

To the best of the authors' knowledge, this study represents the inaugural attempt to investigate the role of environmental innovations in elucidating sustainability practices within a least developed country. Notably, while all dimensions demonstrate significance, it is noteworthy that product innovation emerges as the more substantial contributor to the promotion of sustainability practices.

Details

Asia Pacific Journal of Innovation and Entrepreneurship, vol. 18 no. 2
Type: Research Article
ISSN: 2071-1395

Keywords

Content available
Book part
Publication date: 25 October 2023

Sumesh Singh Dadwal

As the size of the population is growing and the capacity of the planet Earth is limited, human beings are searching for sustainable and technology-enabled solutions to support…

Abstract

As the size of the population is growing and the capacity of the planet Earth is limited, human beings are searching for sustainable and technology-enabled solutions to support society, ecology and economy. One of the solutions has been developing smart sustainable cities. Smart sustainable cities are cities as systems, where their infrastructure, different subsystems and different functional domains are virtually connected to the information and communication technologies (ICT) and internet via sensors and devices and the Internet of Things (IoT), to collect and process real-time Big Data and make efficient, effective and sustainable solutions for a democratic and liveable city for its various stakeholders. This chapter explores the concepts and practices of sustainable smart cities across the globe and explores the use of technologies such as IoT, Blockchain technology and Cloud computing, etc. their challenges and then presents a view on business models for sustainable smart cities.

Open Access
Article
Publication date: 27 September 2023

Awa Traoré and Simplice Asongu

A promising solution to meet the challenge of sustainability and ensure the protection of the environment consists in acting considerably on the adoption and use of new…

Abstract

Purpose

A promising solution to meet the challenge of sustainability and ensure the protection of the environment consists in acting considerably on the adoption and use of new information and communication technologies. The latter can act on the protection of the environment; completely change manufacturing processes into energy-efficient, eco-friendly techniques or influence institutions and governance. The article attempts to cover shortcomings in the literature by providing a couple of theoretical frameworks and grounded empirical proofs for the dissemination of green technologies and the interaction of the latter with institutional quality.

Design/methodology/approach

The sample is made up of 43 African countries covering the period 2000–2020 and a panel VAR modeling approach is employed.

Findings

Our results show that an attenuation of CO2 emissions amplifies the diffusion of digital technologies (mobile telephones and Internet). Efficiency in the institutional quality of African countries is mandatory for environmental preservation. Moreover, the provision of a favorable institutional framework in favor of renewable energy helps to stimulate environmental performance in African states.

Originality/value

This study complements the extant literature by assessing nexuses between green technology and CO2 emissions in environmental sustainability.

Details

Management of Environmental Quality: An International Journal, vol. 35 no. 2
Type: Research Article
ISSN: 1477-7835

Keywords

Open Access
Article
Publication date: 12 April 2022

Matheus Eurico Soares de Noronha, Diandra Maynne Ferraro, Leonardo Reis Longo and Scarlet Simonato Melvin

The aim of this article is to present a model for the orchestration of dynamic capabilities (ODCs) in cleantech companies that aim to obtain competitive advantage in the market.

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Abstract

Purpose

The aim of this article is to present a model for the orchestration of dynamic capabilities (ODCs) in cleantech companies that aim to obtain competitive advantage in the market.

Design/methodology/approach

The authors present herein descriptive research guided by a qualitative multiple case study approach carried out with 12 cleantech companies.

Findings

The results have showed that the ODC model is present in the product/process cycle, thus providing new capabilities and generating sustainable competitive advantage through the research categories presented.

Research limitations/implications

This study contributes to the literature on the ODCs through microfoundations based on evidence of companies inserted in technological and intensively dynamic contexts.

Practical implications

This article demonstrates, through the ODC model, the main capabilities and characteristics of the assets of cleantech companies and how the process of renewing competencies to obtain competitive advantage occurs.

Originality/value

The ODC model utilizes technological resources in the product/process cycle. Asset specificity and the capacity for innovation allow cleantech companies to explore regulatory loopholes, making their sustainable model innovative and obtaining competitive advantage through the renewal of entrepreneurial capabilities and competencies.

Details

Innovation & Management Review, vol. 21 no. 1
Type: Research Article
ISSN: 2515-8961

Keywords

Content available
Article
Publication date: 23 October 2023

Alan Bandeira Pinheiro, Joina Ijuniclair Arruda Silva dos Santos, Ana Paula Mussi Szabo Cherobim and Andréa Paula Segatto

This study aimed to investigate the role of the country's institutional quality on the environmental, social and governance (ESG) performance of its companies.

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Abstract

Purpose

This study aimed to investigate the role of the country's institutional quality on the environmental, social and governance (ESG) performance of its companies.

Design/methodology/approach

Over a four-year period (2016–2019), the study examined the ESG performance of 412 organizations situated in 19 countries. ESG performance was the dependent variable, and the independent variables were rule of law, economic freedom, education index and international trade freedom. These factors described the institutional quality of countries in the authors’ study.

Findings

The findings reveal that institutional quality has a major impact on ESG performance. Companies engage in more ESG practices when they operate in countries with greater economic freedom and international trade freedom. The authors corroborated the core assumption of institutional theory (IT), which argues that organizational behavior is determined by the country's institutional setting.

Research limitations/implications

The findings, like all research, should be interpreted with caution. The authors’ research focused solely on large energy corporations. As a result, the conclusions cannot be applied to small companies or other industries. ESG performance can also be measured using different datasets.

Practical implications

If managers want their companies to perform better in terms of ESG, the authors recommend that they form a CSR committee and sign the Global Compact. This study may be valuable to international policymakers because they can underline that greater economic freedom, better education and greater international trade freedom all promote higher ESG performance.

Originality/value

To the best of the authors' knowledge, nearly all of research explores the relationship between ESG and financial performance. As a result, this study built on past research by investigating how national aspects affect corporate ESG performance.

Details

Management of Environmental Quality: An International Journal, vol. 35 no. 2
Type: Research Article
ISSN: 1477-7835

Keywords

Open Access
Article
Publication date: 16 February 2024

Elvis Achuo, Pilag Kakeu and Simplice Asongu

Despite the global resolves to curtail fossil fuel consumption (FFC) in favour of clean energies, several countries continue to rely on carbon-intensive sources in meeting their…

Abstract

Purpose

Despite the global resolves to curtail fossil fuel consumption (FFC) in favour of clean energies, several countries continue to rely on carbon-intensive sources in meeting their energy demands. Financial constraints and limited knowledge with regards to green energy sources constitute major setbacks to the energy transition process. This study therefore aims to examine the effects of financial development and human capital on energy consumption.

Design/methodology/approach

The empirical analysis is based on the system generalised method of moments (SGMM) for a panel of 134 countries from 1996 to 2019. The SGMM estimates conducted on the basis of three measures of energy consumption, notably fossil fuel, renewable energy as well as total energy consumption (TEC), provide divergent results.

Findings

While financial development significantly reduces FFC, its effect is positive though non-significant with regards to renewable energy consumption. Conversely, financial development has a positive and significant effect on TEC. Moreover, the results reveal that human capital development has an enhancing though non-significant effect on the energy transition process. In addition, the results reveal that resource rents have an enhancing effect on the energy transition process. However, when natural resources rents are disaggregated into various components (oil, coal, mineral, natural gas and forest rents), the effects on energy transition are divergent. Although our findings are consistent when the global panel is split into developed and developing economies, the results are divergent across geographical regions. Contingent on these findings, actionable policy implications are discussed.

Originality/value

The study complements extant literature by assessing nexuses between financial development, human capital and energy transition from a global perspective.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Open Access
Article
Publication date: 28 November 2023

Jennifer Nabaweesi, Twaha Kaawaase Kigongo, Faisal Buyinza, Muyiwa S. Adaramola, Sheila Namagembe and Isaac Nabeta Nkote

The study aims to explore the validity of the modern renewable energy-environmental Kuznets curve (REKC) while considering the relevance of financial development in the…

Abstract

Purpose

The study aims to explore the validity of the modern renewable energy-environmental Kuznets curve (REKC) while considering the relevance of financial development in the consumption of modern renewable energy in East Africa Community (EAC). Modern renewable energy in this study includes all other forms of renewable energy except traditional use of biomass. The authors controlled for the effects of urbanization, governance, foreign direct investment (FDI) and trade openness.

Design/methodology/approach

Panel data of the five EAC countries of Burundi, Kenya, Rwanda, Tanzania and Uganda for the period 1996–2019 were used. The analysis relied on the use of the autoregressive distributed lag–pooled mean group (ARDL-PMG) model, and the data were sourced from the World Development Indicators (WDI), World Governance Indicators (WGI) and International Energy Agency (IEA).

Findings

The REKC hypothesis is supported for modern renewable energy consumption in the EAC region. Financial development positively and significantly affects modern renewable energy consumption, whereas urbanization, FDI and trade openness reduce modern renewable energy consumption. Governance is insignificant.

Originality/value

The concept of the REKC, although explored in other contexts such as aggregate renewable energy and in other regions, has not been used to explain the consumption of modern renewable energy in the EAC.

Details

Technological Sustainability, vol. 3 no. 1
Type: Research Article
ISSN: 2754-1312

Keywords

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