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Book part
Publication date: 4 July 2024

Lukman Raimi

Entrepreneurship, sustainability, and the creation of a resilient, green economy are intricately linked, particularly as conventional economic models grapple with existential…

Abstract

Entrepreneurship, sustainability, and the creation of a resilient, green economy are intricately linked, particularly as conventional economic models grapple with existential challenges. However, empirical research addressing the connection between entrepreneurship and sustainability for a more balanced and resilient future is notably scarce. This chapter aims to bridge this gap by investigating the role of entrepreneurship in advancing sustainability and establishing a resilient, green economy. Through comprehensive research utilizing critical discourse analysis (CDA), three research questions were explored to draw insightful managerial and practical implications. In the intersection of entrepreneurship, sustainability, and a green, resilient economy, opportunities are seized by entrepreneurship amid limitations, while sustainability presupposes responsible management of resources for current needs without compromising the future. A green economy ensures adaptability, growth, and ecological stability even in resource-scarce conditions. The CDA affirms the influential role of entrepreneurship in pursuing sustainability and a green, resilient economy, drawing from 18 cases across public, private, and social sectors to highlight environmental, social, and economic impacts. Furthermore, the CDA uncovers power dynamics, ideologies, and social structures affecting entrepreneurship’s role in fostering sustainable and resilient, green economies. Collaborations between governments, corporations, and social ventures in diverse countries promote sustainability within existing social structures, fostering comprehensive development. However, imbalanced power dynamics pose challenges, risking potential social exclusion. This chapter concludes by addressing practical implications and limitations, aiming to contribute to an ecologically balanced and socially equitable future by understanding entrepreneurship’s role in promoting sustainability and green resilience within the context of power dynamics, ideologies, and social structures.

Details

Entrepreneurship and Development for a Green Resilient Economy
Type: Book
ISBN: 978-1-83797-089-6

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Book part
Publication date: 12 February 2021

Normalisa Md Isa, Arunnaa Sivapathy and Nur Nadia Adjrina Kamarruddin

Since the 1970s, the sustainable development was developed from science and environmental crusade. Since then, there were many programs done in the field but not named as…

Abstract

Since the 1970s, the sustainable development was developed from science and environmental crusade. Since then, there were many programs done in the field but not named as “Sustainable Development.” The environments have affected because of the process of the development which was noticed by the world community. Malaysia has made a commitment to the 2030 Agenda in September 2015 for the future of mother earth. Despite the increasing attention toward sustainable development and circular economy across the world, understanding of the potential sustainability synergy among developing countries remains sluggish. This chapter therefore briefly discusses the development of circular economy within developed and developing countries. The chapter then narrowed the discussion toward Malaysian practices of the circular economy. Malaysia also recorded among the countries that faced waste management issues in Asia. The detailed discussion includes Malaysian acceptance and initiatives in reaching a circular economy within the past years, present, and future. The discussion surrounds the circular economy practiced by Malaysian industrial players as well as government's initiatives in encouraging and educating Malaysian toward embracing the idea of circular economy and sustainable consumption. As most countries embrace green technologies, Malaysia has taken proactive steps toward adopting green technology. Among the four main policy priorities are energy, environment, economy, and social, the key to green technology in driving the country's economy while promoting sustainable development. In fact, the major economic drivers of the Malaysian economy involve industrial activities such as palm oil, mining, and manufacturing, which are now beginning to take steps toward the development of green technology development. The application of green technology can provide a balance between economic development and environmental preservation as well as solutions to climate change issues. The initiative aims to make Malaysia one of the best countries in the world with sustainable economic growth, innovation, and prosperous citizens by 2050.

Details

Modeling Economic Growth in Contemporary Malaysia
Type: Book
ISBN: 978-1-80043-806-4

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Book part
Publication date: 8 November 2019

Olga Shimova

Section 6.1 explores the prerequisites for the formation and features of the development of the National Strategy for Sustainable Development of the Republic of Belarus, which is…

Abstract

Section 6.1 explores the prerequisites for the formation and features of the development of the National Strategy for Sustainable Development of the Republic of Belarus, which is a complex of scientifically grounded directions for solving national problems that are closely interrelated with world development. During the years of the state sovereignty of Belarus, three national strategies of sustainable development were developed and adopted by the government. The strategic goal of sustainable development in the latter national strategy is to ensure high living standards of the population and conditions for the harmonious development of the individual through the transition to a highly efficient economy based on knowledge and innovation, while maintaining a favorable environment for current and future generations. The objectives of sustainable development, defined in the strategy for the first five years, are detailed in the National Action Plan for the Development of a Green Economy in the Republic of Belarus until 2020.

In Section 6.2, it is noted that the green economy is becoming a new engine of growth, contributes to the creation of decent jobs, and is a vital factor in the eradication of poverty and destitution. The main factors of the transition to a green economy and the main directions of its development in the Republic of Belarus are outlined.

In Section 6.3 the features of the concept of circular economy and the formation of business models for its implementation are analyzed. The study concluded that the concept of sustainable development is a theoretical model of the desired future of mankind, and the green and circular economies provide very specific projects for the practical implementation of the sustainable development paradigm.

Book part
Publication date: 23 August 2023

S. J. Kuruvilla Pandikattu

Basing himself on the premise that present economic progress cannot follow the ‘Business as usual paradigm’ and hope for continued and unlimited progress, the author holds that we…

Abstract

Basing himself on the premise that present economic progress cannot follow the ‘Business as usual paradigm’ and hope for continued and unlimited progress, the author holds that we need to look into the larger dimensions of growth and development, which include social, environmental and other complex factors. So in this chapter, the author makes some pertinent suggestions for a sustainable growth model inspired by green growth and degrowth.

The first section evaluates the salient features of green growth and its drawbacks. It is followed by a discussion on the notion of degrowth, with its challenge to change the direction of growth (economic, ecological, social and cultural), without which human civilisation, as we know it today, may not survive. Finally, in the concluding chapter, based on these two notions of green growth and degrowth, an all-inclusive and sustainable regrowth model is propounded.

By creating an awareness of the need to shift development goals and Corporate Social Responsibility (CSR), the author argues that we could use economic regrowth strategically and responsibly to make the world more sustainable and viable. Responsible corporates will make their contribution to such an organic, resilient and sustainable regrowth and their CSR activities could be the starting point for this change, without which humanity's future is seriously threatened.

Finally, the author acknowledges that humanity has profited from the tremendous technological and economic progress we have made in the last four centuries, learnt from its mistakes and are ready to reorient ourselves individually and collectively towards a sustainable economic regrowth.

Details

Strategic Corporate Responsibility and Green Management
Type: Book
ISBN: 978-1-80071-446-5

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Book part
Publication date: 4 September 2024

Paiman Ahmad, Alhamzah Alnoor and Twana N. Mohamad Khan

Introduction: The notion of job losses during energy transition phases and their influences on fossil fuel economies have been debated in various aspects. Meanwhile, unemployment…

Abstract

Introduction: The notion of job losses during energy transition phases and their influences on fossil fuel economies have been debated in various aspects. Meanwhile, unemployment and poverty have been critical economic challenges for many developing countries, even the resource-rich countries in the Middle East. Concurrently, no country so far is poverty-free and has not entirely fulfilled Sustainable Development Goals (SDG) Nos. 1 and 8, as many resource-rich countries account for the significant global poverty and unemployment, such as Nigeria, Iraq, Yemen, and Venezuela.

Purpose: The issue of green transition has created new fears for the job market in the fossil fuel economies, where the lives of many people could be mainly affected. This study investigates the macroeconomic challenges of green transition and the macroeconomic consequences that fossil fuel economies will deal with.

Methodology: This study follows content analysis and a desk-search review of job loss during the green transition in the context of fossil fuel economies. In addition, the descriptive analysis is just a clear understanding of the fundamental review of the topic that will lead to another cross-country analysis study based on in-depth knowledge and analysing data.

Findings: The European Green Deal (EGD) will have profound economic, social, and political implications for fossil fuel-dependent economies for various reasons. First, fossil fuel economies are less diversified; the economy depends on a single commodity; the systems must be developed and people must prepare for a quick economic transition.

Details

Sustainability Development through Green Economics
Type: Book
ISBN: 978-1-83797-425-2

Keywords

Book part
Publication date: 24 October 2018

O. V. Andreeva, N. G. Vovchenko, O. B. Ivanova and E. D. Kostoglodova

This chapter stands for justification of growing demand for supporting new theoretical and methodological approaches in development of an actual green economy’s financial…

Abstract

This chapter stands for justification of growing demand for supporting new theoretical and methodological approaches in development of an actual green economy’s financial framework taking into consideration modern growing risks in the ecological, economic, social, and geopolitical environments. A notable increase in environmental expenditures of both national economies and international financial institutions is determined by the global state of the economy. The climate change has been caused by escalating the energy supply struggle, the nature exhaustion, and the need for providing balance to the market stating green economy regulators. The main aim of this chapter is to study the trends and the key state green finance regulation points. The research goal could be achieved through highlighting the nature of green finance and its framework; studying the concept of green finance and innovative financial tools’ development, providing green economy’s development; and spotting trends and imperatives of regional regulation of green finance. This chapter highlights the necessity for implementing complex systemic and methodologic approaches in making the green finance framework, summarizing leading practices in green funding and green economy’s funds raising, considering limits in green finance tools’ utilization in current conditions, strengthening the power of both federal and regional authorities in solving financial problems of energy saving, and extending the practices of companies and institutions’ green financial tools’ utilization. The necessity for a green sustainable development across the globe has driven this research to use different types of instruments to point out the benefits of such a development. In addition, green finance state regulation tools have been proposed.

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Contemporary Issues in Business and Financial Management in Eastern Europe
Type: Book
ISBN: 978-1-78756-449-7

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Book part
Publication date: 10 December 2016

Denis Harrington, Margaret Walsh, Eleanor Owens, David John Joyner, Morag McDonald, Gareth Griffiths, Evelyn Doyle and Patrick Lynch

Adopting an EU policy lens, this chapter primarily addresses the proposed pivotal role of firm-level innovation capability (FLIC) in small and medium-sized enterprises (SMEs) as a…

Abstract

Adopting an EU policy lens, this chapter primarily addresses the proposed pivotal role of firm-level innovation capability (FLIC) in small and medium-sized enterprises (SMEs) as a stimulant of sustainable development (SD) and green growth in Ireland/Wales. The chapter specifically examines the scale and scope of the green economy (GE), and considers the importance of organizational inherent “green” innovation capabilities (GICs) to achieve it. Underpinning the study is the methodology and concept of utilizing a facilitated cross-border multi-stakeholder learning network to enable knowledge transfer and exchange practices to flourish between partners, acting as a significant predictor of the development of SME GICs structures. Specifically, against the backdrop of the Green Innovation and Future Technologies (“GIFT” hereafter) INTERREG 4A Project, the research assesses how academic–industry partner exchange and inter-group learning and cooperation facilitates the development of GICs in smaller enterprises to realize a sustainable smart green economy in Ireland.

Details

University Partnerships for International Development
Type: Book
ISBN: 978-1-78635-301-6

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Book part
Publication date: 4 September 2024

Lethiwe Nzama-Sithole and Sezer Bozkus Kahyaoglu

Introduction: The circular economy is observed as a good sustainability practice that has gained importance recently. The effects of this practice specific to the financial…

Abstract

Introduction: The circular economy is observed as a good sustainability practice that has gained importance recently. The effects of this practice specific to the financial industry are examined in the context of green accounting, finance, and sustainability reporting standards and needs.

Purpose: This chapter aims to analyse the impact of the circular economy on the finance industry based on three research questions: (1) What benefits and challenges does the circular economy bring to the financial industry? (2) What should be the financial industry’s strategic roadmap and business model for transitioning from a linear economy to a circular economy? (3) What are the differentiating aspects of ecosystem accounting and environmental accounting in its structure and use in the financial industry?

Methodology: The method of our work is based on a ‘strategic road map for circular economy’ implementation and a ‘sustainability business model framework’ relevant to the finance industry. Thus, we systematically present the ‘value generation process’ considering the industry trends and dynamics and regulatory challenges regarding ‘green business model’ management with a strategic approach.

Findings: To coordinate the transition to a circular economy based on systematic knowledge about the state of ecosystems and their interactions with society, it is necessary to design monitoring, accounting and reporting systems that adapt to the new business operating environment. This chapter provides recommendations from the perspective of the financial sector.

Book part
Publication date: 23 May 2019

Elena B. Zavyalova and Nikolay V. Studenikin

There is a long-going discussion in Russia focusing on finding new stimulus for economic growth. Being very rich with natural recourses, Russia has enjoyed extensive economic…

Abstract

There is a long-going discussion in Russia focusing on finding new stimulus for economic growth. Being very rich with natural recourses, Russia has enjoyed extensive economic growth model for many centuries. The world is changing. Russia as any country which is to keep up with the dynamics and the quality of the world economic growth must find some new technologies and economic triggers. Green investment can be regarded as the key instrument to achieve faster economic growth and to make technological gap narrower. The chapter focuses on state policy and business practice in green investment in Russia.

Book part
Publication date: 20 April 2023

Yasemin Başarır and Çağatay Başarır

The concept of sustainability started to be discussed in the twentieth century and lately has become an international concept for the social, economic, and environmental…

Abstract

The concept of sustainability started to be discussed in the twentieth century and lately has become an international concept for the social, economic, and environmental strategies and international agreements. In the path of sustainable development, green economics gained importance in international platforms. Sustainable finance includes environmental, social, and economic principles into decision-making processes, economic development, and investment strategies of the economic actors. The importance and volume of the use of green finance tools have risen in the last decades.

Details

The European Union in the Twenty-First Century
Type: Book
ISBN: 978-1-80382-537-3

Keywords

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