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Article
Publication date: 24 July 2023

Georgia Makridou, Michalis Doumpos and Christos Lemonakis

Considering environmental, social and governance (ESG) factors is vital in climate change mitigation. Energy companies must incorporate ESG into their business plans, although it…

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Abstract

Purpose

Considering environmental, social and governance (ESG) factors is vital in climate change mitigation. Energy companies must incorporate ESG into their business plans, although it unquestionably affects their corporate financial performance (CFP). This paper aims to investigate the effect of ESG on energy companies’ profitability through return on assets by analysing the combined score and individual dimensions of ESG.

Design/methodology/approach

The study examined a panel data sample of 911 firm-year observations for 85 European energy-sector companies during 1995–2020. Two distinct modelling specifications were applied to explore the impact of ESG components on the CFP of EU energy companies. The financial data and ESG scores were obtained from the Thomson Reuters Eikon database in July 2021.

Findings

The empirical findings revealed that energy companies’ profitability is marginally and negatively affected by their ESG performance. Whereas independent evaluation of the ESG subcomponents indicated that environmental responsibility has a significant negative effect. In contrast, corporate social and governance responsibilities are positively but not significantly associated with the company’s CFP.

Originality/value

This study fills a research gap in the ESG–CFP literature in the European energy sector, a pioneer in sustainable development. To the best of the authors’ knowledge, this study’s originality lies in its analysis of ESG factors’ role in profitability by considering different EU countries and energy sectors.

Details

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

Keywords

Article
Publication date: 9 February 2024

Chukwunonso Ekesiobi, Stephen Obinozie Ogwu, Joshua Chukwuma Onwe, Ogonna Ifebi, Precious Muhammed Emmanuel and Kingsley Nze Ashibogwu

This study aims to assess financial development and debt status impact on energy efficiency in Nigeria as a developing economy.

Abstract

Purpose

This study aims to assess financial development and debt status impact on energy efficiency in Nigeria as a developing economy.

Design/methodology/approach

This study combined the autoregressive distributed lag (ARDL), fully modified ordinary least squares and canonical cointegration regression analytical methods to estimate the parameters for energy efficiency policy recommendations. Secondary data between 1990 and 2020 were used for the analysis.

Findings

The result confirms the long-run nexus between energy efficiency, financial development and total debt stock. Furthermore, the ARDL estimates for this study’s key variables show that financial development promotes energy efficiency in the short run but hinders long-run energy efficiency. Total debt stock limits energy efficiency in Nigeria in short- and long-run periods.

Research limitations/implications

The limitation of this study is that the scope is limited to Nigeria as a developing economy. The need to support energy efficiency projects is a global call requiring cross-country analysis. Despite this study’s focus on Nigeria, it provides useful insights that can guide energy efficiency policy through the financial sector and debt management.

Practical implications

The financial sector must ensure the availability of long-term credit facilities to clean energy investors. The government must maintain a sustainable debt profile to pave the way for capital expenditure on clean energy projects that promote energy efficiency.

Originality/value

The environmental consequences of energy intensity are being felt globally, with the developing countries most vulnerable. The cheapest way to curb these consequences is to promote energy efficiency to reduce the disastrous effect. Driving energy efficiency requires investment in energy-efficient technology but the challenge for developing economies, i.e. Nigeria’s funding, remains challenging amid a blotted debt profile. This becomes crucial to investigate how financial sector development and debt management can accelerate energy-efficient investments in Nigeria.

Details

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

Keywords

Article
Publication date: 28 August 2023

Alice Arinaitwe, Vincent Bagire, Benjamin Tukamuhabwa and Tumwine Sulait

The purpose of this paper is to examine the relationship between top management commitment and energy management in small and medium manufacturing firms in a developing country…

Abstract

Purpose

The purpose of this paper is to examine the relationship between top management commitment and energy management in small and medium manufacturing firms in a developing country context.

Design/methodology/approach

This study was executed through a survey of 66 manufacturing firms in Kampala, Uganda. The data collected were analysed using SPSS v.26.

Findings

The results show that top management commitment influences energy management. A further probe of its three dimensions of top management participation, top management support and top management beliefs reveals that all of them positively and significantly predict energy management in manufacturing firms.

Research limitations/implications

The current study results were obtained from manufacturing small and medium firms in Kampala, Uganda. Therefore, caution should be taken prior to generalization. Furthermore, this study only focuses on top management participation, top management support and top management beliefs as the dimensions of top management commitment. This study thus provides the foundation for future studies to test other dimensions of top management commitment, particularly in other sectors.

Originality/value

To the best of the authors’ knowledge, this is the first study to examine the contribution of top management commitment dimensions top management participation, top management support and top management beliefs to energy management in a developing country context. Although all dimensions are significant, top management beliefs contribute more to energy management.

Details

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

Keywords

Article
Publication date: 18 December 2023

Swarnalakshmi Umamaheswaran, Vandita Dar, John Ben Prince and Viswanathan Thangaraj

This study aims to explore the perceptions of investors regarding the risks associated with funding renewable energy projects in India, as well as the various factors that…

Abstract

Purpose

This study aims to explore the perceptions of investors regarding the risks associated with funding renewable energy projects in India, as well as the various factors that influence these perceptions. The investigation is limited to debt providers and seeks to pinpoint the primary risks that bankers perceive and the drivers that shape these perceptions.

Design/methodology/approach

This study draws on interviews and surveys of Indian bank executives, investigating how finance providers perceive risks in the Indian context and the factors driving such perceptions. Qualitative interviews have been used for operationalizing “risk perception” within the renewable energy domain, followed by a quantitative survey and exploratory factor analysis.

Findings

The authors find that experience and capacity are the most important factors that account for 30% of the overall variance. The second factor, which accounts for 15% of the variance, includes the perceived risks in funding renewable energy projects as compared to infrastructure projects. Among individual risks, the authors find that bankers perceive technological risk to be the lowest (5%) and contractual and regulatory risks as the highest (66%) in renewable energy projects.

Research limitations/implications

The study contextualizes risk perception toward renewable energy investments in the Indian context by drawing from the risk perception literature and qualitative interviews with senior bankers. It presents empirical evidence on the decision-making behavior of bankers, who are important stakeholders of the renewable energy ecosystem. The main limitation of the study is the relatively small sample, and generalizing the results to the broader population might require a larger sample. This will facilitate the use of confirmatory factor analysis and structural equation modeling, which can facilitate a more comprehensive understanding of risk perceptions in renewables financing.

Originality/value

Insights gained can be used to provide policy recommendations for improving the financing ecosystem of renewable energy projects. The research significantly contributes to the extant literature within the renewable energy financing domain for emerging economies.

Details

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

Keywords

Article
Publication date: 12 December 2023

Samille Souza Marinho, Armando Gomes Rego Neto, Reimison Moreira Fernandes, André Cristiano Silva Melo, Leonardo dos Santos Lourenço Bastos and Vitor William Batista Martins

This study aims to identify sustainability indicators in the energy sector through a literature review and validate them from the perspective and context of professionals working…

Abstract

Purpose

This study aims to identify sustainability indicators in the energy sector through a literature review and validate them from the perspective and context of professionals working in the sector in an emerging economy country, Brazil, considering the relationship of these indicators with the achievement of the targets set by the United Nations sustainable development goals (UN SDGs).

Design/methodology/approach

To accomplish this, a literature review on sustainability indicators specific to the energy sector was conducted. Subsequently, a research instrument (questionnaire) based on the identified indicators was developed and a survey was administered to professionals in the field. The collected data were analyzed using the Lawshe method.

Findings

The results revealed 20 indicators, distributed across environmental, economic and social dimensions. Among these, nine indicators were validated, including global impacts, local impacts, renewable energy production as a percentage of total production, greenhouse gas emissions, access to electricity, investment in the energy sector, installed capacity in the electricity sector, energy prices in the end-use sector and energy distribution and conversion efficiency.

Originality/value

Consequently, it was possible to determine which SDGs are directly impacted and provide a foundation for future actions that can contribute to the sustainable advancement of the energy sector in emerging countries.

Details

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

Keywords

Article
Publication date: 16 May 2023

Nandun Madhusanka Hewa Welege, Wei Pan and Mohan Kumaraswamy

Despite carbon reduction commitments, many constraints hinder the delivery of low-carbon buildings (LCBs) in high-rise high-density cities. The collaborative commitment of…

Abstract

Purpose

Despite carbon reduction commitments, many constraints hinder the delivery of low-carbon buildings (LCBs) in high-rise high-density cities. The collaborative commitment of relevant stakeholders is vital to effectively address and mitigate these constraints. Hence, this study aims to comprehensively explore the required stakeholder collaboration attributes to address and mitigate the “common” constraints of delivering LCBs by focussing on several high-rise high-density cities.

Design/methodology/approach

A list of 21 “significant and common” constraints was identified through a systematic literature review followed by a questionnaire survey covering five economies (Hong Kong, Singapore, Australia, Qatar and the UAE). Nineteen influential stakeholders/stakeholder categories were identified through the literature, and their ability to influence the 21 constraints was mapped and identified through a two-round Delphi survey of 15 experienced professionals. The Delphi survey findings were analysed through social network analysis (SNA) methods to assess the stakeholder engagement and collaboration attributes.

Findings

The SNA results revealed the ability of stakeholders to influence the constraints, required collaborative stakeholder networks to address the constraints, significance of stakeholders according to the SNA centrality measures, core and periphery stakeholders and individual co-affiliation networks of core stakeholders.

Originality/value

While achieving the planned primary target of exploring stakeholder collaboration and their significance through SNA, this study also presents a useful sequential methodological approach for future researchers to conduct similar studies in different contexts. The findings also provide a foundation for accelerating the delivery of LCBs by strengthening stakeholder collaboration.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 25 December 2023

Isaac Akomea-Frimpong, Jacinta Rejoice Ama Delali Dzagli, Kenneth Eluerkeh, Franklina Boakyewaa Bonsu, Sabastina Opoku-Brafi, Samuel Gyimah, Nana Ama Sika Asuming, David Wireko Atibila and Augustine Senanu Kukah

Recent United Nations Climate Change Conferences recognise extreme climate change of heatwaves, floods and droughts as threatening risks to the resilience and success of…

Abstract

Purpose

Recent United Nations Climate Change Conferences recognise extreme climate change of heatwaves, floods and droughts as threatening risks to the resilience and success of public–private partnership (PPP) infrastructure projects. Such conferences together with available project reports and empirical studies recommend project managers and practitioners to adopt smart technologies and develop robust measures to tackle climate risk exposure. Comparatively, artificial intelligence (AI) risk management tools are better to mitigate climate risk, but it has been inadequately explored in the PPP sector. Thus, this study aims to explore the tools and roles of AI in climate risk management of PPP infrastructure projects.

Design/methodology/approach

Systematically, this study compiles and analyses 36 peer-reviewed journal articles sourced from Scopus, Web of Science, Google Scholar and PubMed.

Findings

The results demonstrate deep learning, building information modelling, robotic automations, remote sensors and fuzzy logic as major key AI-based risk models (tools) for PPP infrastructures. The roles of AI in climate risk management of PPPs include risk detection, analysis, controls and prediction.

Research limitations/implications

For researchers, the findings provide relevant guide for further investigations into AI and climate risks within the PPP research domain.

Practical implications

This article highlights the AI tools in mitigating climate crisis in PPP infrastructure management.

Originality/value

This article provides strong arguments for the utilisation of AI in understanding and managing numerous challenges related to climate change in PPP infrastructure projects.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 2 January 2023

Augustine Senanu Komla Kukah, De-Graft Owusu-Manu, Edward Badu and David John Edwards

This study aims to identify the critical success factors of public private partnership (PPP) power projects in Ghana and further evaluates the most significant critical success…

Abstract

Purpose

This study aims to identify the critical success factors of public private partnership (PPP) power projects in Ghana and further evaluates the most significant critical success factors (CSFs) influencing both the public and private sector participation in PPP power projects.

Design/methodology/approach

Ranking-type Delphi survey in two rounds was conducted to establish a comprehensive list of critical success factors of PPP power projects. Using purposive and snowball sampling techniques, experts were targeted for the Delphi survey. Mean score ranking, Cronbach’s alpha coefficient and Kendall’s concordance were used for analysis.

Findings

From the list of 37 critical success factors, 9 CSFs were deemed to be extremely significant. The five topmost CSFs were as follows: shared authority, trust and communication between public and private sectors; necessity of power project; debt guarantee to enable private partner to raise funds from the local or international financial markets; appropriate risk allocation and risk sharing; and thorough and realistic assessment of cost, projections and benefits.

Originality/value

The CSFs identified and prioritized in this study have the propensity to trigger policy development towards the PPP power sector in Ghana and developing countries that shares similar context. This is because the study has wide implications for financing, politics, procurement, regulations, legal and capacity building.

Details

Journal of Facilities Management , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-5967

Keywords

Article
Publication date: 28 March 2023

Mosab I. Tabash, Umar Farooq, Suhaib Anagreh and Mamdouh Abdulaziz Saleh Al-Faryan

This study aims to explore the empirical relationship between public–private investment (PPI) in energy and environmental quality.

Abstract

Purpose

This study aims to explore the empirical relationship between public–private investment (PPI) in energy and environmental quality.

Design/methodology/approach

The authors hypothesize that PPI can reduce pollution emissions and test this hypothesis by sampling the 20-year data of emerging and growth-leading economies (EAGLE) and adopting two estimation techniques named panel estimated generalized least square and fully modified ordinary least square models.

Findings

The empirical analysis vows that PPI has an inverse relationship with CO2 emissions, corroborating the sustainable development driving role of PPI. In addition, the empirical outcomes suggest a negative/positive role of energy imports and economic growth. Meanwhile, foreign direct investment is negatively linked with CO2 emissions, corroborating the pollution halo hypothesis in the case of EAGLE. However, financial development shows a positive relationship with CO2 emissions.

Practical implications

This study offers an important policy outlay regarding the pollution mitigation role of PPI in EAGLE. The environmental sustainability in underlying economies can be achieved by enhancing the magnitude of public–private cooperation in energy investment. The empirical analysis supplements cutting-edge empirical evidence regarding PPI as a driver of important sustainable development goal (SDG), i.e. environmental sustainability.

Originality/value

To the best of the authors’ knowledge, this study is the first study that examines how one can achieve an important SDG regarding environmental sustainability through PPI in energy.

Details

International Journal of Innovation Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-2223

Keywords

Article
Publication date: 30 April 2024

Sidhartha Harichandan and Sanjay Kumar Kar

The purpose of this study is to explore the determinants influencing industrial adoption of green hydrogen amidst the global transition towards sustainability. Recognizing green…

Abstract

Purpose

The purpose of this study is to explore the determinants influencing industrial adoption of green hydrogen amidst the global transition towards sustainability. Recognizing green hydrogen as a pivotal clean energy alternative for industrial applications is critical for understanding its potential integration into sustainable practices.

Design/methodology/approach

This research examines the impact of factors such as innovativeness, perceived ease of use, user comfort, optimism and governmental policies on the industrial intention towards green hydrogen usage. Using responses from 227 Indian industry professionals and conducting analysis via the SmartPLS software, the study reveals a discernible discomfort among industrial workers pertaining to the daily application of green hydrogen.

Findings

The research presents an array of policy recommendations for stakeholders. Emphasized strategies include the introduction of green hydrogen certificates, sustainable public procurement mechanisms, tax incentives, green labelling protocols and the establishment of a dedicated hydrogen skill development council, all of which can significantly influence the trajectory of green hydrogen adoption within the industrial sector.

Originality/value

This research synthesizes various elements, from industry perception and challenges to policy implications, presenting a holistic view of green hydrogen’s potential role in industry decarbonization and SDG realization. In essence, this study deepens not only the empirical understanding but also pioneers fresh theoretical frameworks, setting a precedent for subsequent academic endeavours.

Details

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

Keywords

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