Search Results (111)

Whether the New Energy Vehicle Promotion Policy (NEVPP) enhances supply chain resilience is pivotal to China’s green transition and global industrial security. Using data on A-share listed automobile manufacturers from 2012 to 2024, this study employs a multi-period difference-in-differences approach to identify the policy’s impact. Results show that NEVPP significantly strengthens supply chain resilience, and the findings remain robust across alternative specifications. Mechanism analysis reveals that the policy raises managerial attention, eases financing constraints, and stimulates technological innovation, thereby enhancing resilience through managerial, financial, and technological channels. Heterogeneity analysis by ownership, geography, R&D intensity, analyst coverage, and institutional ownership shows that the effect is stronger for state-owned enterprises, firms in central and western regions, low-R&D firms, those without analyst coverage, those with high analyst attention, and firms with low institutional ownership. This study provides firm-level evidence on the economic consequences of NEVPP, advances understanding of industrial policy and corporate resilience, and offers policy implications for supporting the global energy transition and safeguarding supply chain stability. Full article

Technological innovation in energy enterprises constitutes a pivotal component in realizing the transition to a green economy. In recent years, the complexity and volatility of the international economic landscape have significantly amplified economic policy uncertainty (EPU) across nations, which is poised to exert a profound influence on the technological innovation activities of energy enterprises. This study employs the Tobit regression method to investigate the relationship between EPU and corporate technological innovation (CTI), based on data from Chinese listed energy companies spanning the period of 2007 to 2018. Empirical results indicate that EPU exerts a significant positive influence on technological innovation for energy enterprises. Furthermore, we employed a Fisher permutation test to further elucidate the heterogeneity of this impact across various sub-industries, enterprise ownership types, and governance mechanisms. Specifically, EPU has a more pronounced promoting effect on technological innovation for traditional energy enterprises, non-state-owned enterprises, and enterprises with high failure tolerance. Against the backdrop of increasing global EPU, the findings of this study offer certain implications for governmental industrial policies and corporate governance mechanisms. Full article

Socio-economic resilience and sustainable development have become central themes in contemporary public debate, with the transition to sustainable, low-carbon energy systems emerging as a strategic priority. Within this context, our research specifically examines how CSR engagement, renewable energy deployment, and sustainable finance jointly influence firms’ exposure to climate-related financial risks, addressing a gap in the literature regarding corporate-level resilience. The empirical analysis employs a structured two-fold methodological framework comprising robust regression with Huber and biweight iterations, and quantile-on-quantile (Q–Q) regression. The dataset includes 300 European energy companies for 2024, extracted from the LSEG Data & Analytics platform. Our findings reveal that companies in the European energy sector must accelerate their transition to low-carbon operating models. Specifically, firms with stronger sustainability commitments exhibit reduced exposure to climate-induced financial instability and improved long-term performance indicators. These findings underscore the moderating role of CSR and renewable energy investments in enhancing corporate resilience. Sustainability-oriented firms are better positioned to absorb, mitigate, and adapt to climate-related shocks, supporting both environmental objectives and financial stability. Policy recommendations should focus on balancing ESG objectives with financial performance requirements, ensuring that energy companies receive adequate support for the green transition. Such alignment is essential to strengthen corporate resilience and improve the effectiveness of sustainable energy policies amid escalating climate challenges. Full article

Indonesia faces growing pressure to strengthen waste management while expanding renewable energy generation, particularly from high-moisture biomass such as palm oil mill effluent (POME) and the organic fraction of municipal solid waste (OFMSW). Anaerobic digestion technology (ADT) is technically suitable for both feedstocks; however, its deployment depends on broader operational, financial, social, and institutional conditions. This study evaluates ADT readiness for biomass waste-to-energy (BWTE) development in Indonesia using a multistakeholder Japanese Technology Readiness Assessment (J-TRA) framework. The results and discussion are supported by a literature review, secondary data analysis, and interviews with government agencies, industry actors, financiers, non-governmental organizations, and researchers. The results reveal a clear divergence in readiness outcomes. POME-based ADT reaches Technology Readiness Levels (TRLs) of 6–8, supported by a stable and homogeneous feedstock supply, established industrial operations, and corporate incentives to mitigate methane emissions. Key remaining constraints relate to high capital costs for smaller mills, low electricity purchase tariffs, and competing export incentives for untreated POME. In contrast, OFMSW-based ADT remains at TRL 2–4, constrained by inconsistent waste segregation, insufficient operation and maintenance capacity, limited municipal budgets, residential safety concerns, and fragmented governance across waste and energy institutions. Across both cases, readiness is shaped by five interacting forces. The first three are technical: feedstock characteristics, operations and maintenance (O&M) capability, and financial certainty. The remaining two are enabling conditions: social acceptance and institutional coordination. This study concludes that Indonesia’s BWTE transition requires integrated technological, behavioral, and policy interventions, supported by further research on hybrid valorization pathways and context-specific life-cycle and cost analyses. Full article

Placed at the core of the energy transition, the integrated oil and gas sector is facing growing pressure to balance sustainability requirements with financial performance. While ESG ratings are widely used to evaluate and benchmark corporate sustainability, their connection to broader SDG commitments (and real transition outcomes) remains underexplored, especially in carbon-intensive industries. Against this background, this paper aims to investigate how well the world’s largest integrated oil and gas companies (as classified by LSEG Data and Analytics) align their ESG performance with the SDGs, and to assess (the robustness of) their sustainability trajectories. Using a panel dataset—including ESG (overall, by pillars, and controversies) scores (2019–2023), SDG commitments (2019–2023), and the (recently released) FTSE Russell Green Revenues (2024)—the study applies a quantitative, longitudinal, and explanatory design. It follows a process logic—from inputs (ESG performance) to intentions (SDG commitments) and ultimately to outcomes (Green Revenues)—to identify performance patterns, strategic archetypes, and materiality insights. The study adds to the ongoing debate on how ESG metrics can better capture real SDG/sustainability impacts, while providing insights for strategists, investors, and policymakers seeking to align financial and sustainability agendas during the energy transition. Full article

The industrialization of using crop straw as energy is currently hindered by systemic bottlenecks, including high collection and storage costs, a poorly coordinated industrial chain, and underdeveloped market mechanism. This study takes Guangdong province as a case study to construct a tripartite evolutionary game model on the transition of straw to energy among the government, enterprises, and farmers. Different from previous studies that focused on the strategy of penalizing the open burning of straw by farmers, this work investigated the cooperation of farmers for straw removal from field, the operational strategies of enterprises for straw utilization as energy, and the selection of government-guided incentive policies. It analyzes the behavioral evolution of these stakeholders under various incentive policies and cooperative scenarios. Numerical simulations were performed to identify the system’s evolutionary stable strategies and assess the potential of expanding straw for energy utilization. It indicated that mild government intervention could lead to a stable equilibrium through facilitating the removal of straw from fields and the utilization of straw as energy by enterprises. Farmers were sensitive to the fluctuation of acquisition price, and their willingness to cooperate would be negatively impacted by a large-scale price reduction. Enterprise expansion was exposed to significant risk under intensive policy intervention. The feasible pathway to increase the proportion of straw utilization as energy in Guangdong began at a small scale. Under mild incentive policies, a scenario targeting a 20% increase was more likely to achieve a market equilibrium for large-scale production than that targeting a 55% increase. The government should draw up positive incentive policies to promote the utilization of straw as energy. By guiding farmers in straw removal from the field and improving the energy enterprises’ competitiveness, the government should curb irrational industry expansion and corporate speculation, and shift from investment support to incentive policies. Meanwhile, the ecological construction of industry and supply chains should be enhanced, and the scale should be used to reduce the high supply-side costs of the straw. It would overcome the central barrier to the commercialization of straw utilization as energy. This work sets an example for conducting dynamic analysis of multi-stakeholder interactions for straw utilization. Full article

The increasing emphasis on environmental protection, climate change mitigation, and the transition to a circular economy requires industries, including the wood-processing sector, to integrate sustainability into strategic and operational management. Green growth indicators represent essential tools for evaluating the environmental, economic, and social impacts of business activities, while also contributing to the sustainable economics and responsible management of forest resources and products. This study applies a qualitative research design using structured interviews with 10 executives from medium and large woodworking enterprises in Slovakia. The interviews examined company strategies, practices, and challenges in sustainable development and forest resource utilization. The findings reveal that while many companies actively manage waste, invest in green technologies, and conduct internal audits, the broader implementation of environmental management systems and the uptake of public sustainability funding remain limited. Notably, 90% of respondents emphasized waste volume and recovery rates as critical indicators. Based on the results, a set of green growth indicators was developed and categorized across key thematic areas including waste management, energy efficiency, stakeholder communication, certification, and strategic planning. These indicators not only support the assessment of corporate sustainability but also strengthen efficient forest resource management, responsible use of raw materials, and the long-term economic viability of the sector. The study highlights the importance of systematically designed and practically applicable indicators for guiding companies toward sustainable competitiveness and emphasizes the need for stronger institutional support, improved access to reliable data, and integration of sustainability metrics into core business decision-making. Full article

Addressing climate change and achieving carbon neutrality are urgent global responsibilities, with China’s “dual carbon” goals presenting a significant challenge and opportunity for its energy sector. Green finance, as a pivotal driver for fostering low-carbon and high-quality development in the energy industry, significantly accelerates its green transition. Employing an integrated micro-macro framework, this study first develops a tripartite evolutionary game model involving government, local energy enterprises, and external energy enterprises to analyze the micro-mechanisms of corporate low-carbon decision-making under green finance policies. Subsequently, utilizing panel data from 30 Chinese provinces (2013–2021), it empirically examines the macro impact of green finance on the industry’s low-carbon, high-quality development using a spatial Durbin model (SDM). Key findings include the following: (1) Game analysis reveals that local enterprises’ low-carbon transition propensity and emission reduction returns increase with R&D investment but are negatively moderated by the tax rate level within green finance policies. (2) Spatial econometric results demonstrate that green finance significantly facilitates local energy industry low-carbon transition via technological progress, confirming a significant negative spatial spillover effect on neighboring regions, with notable regional heterogeneity. (3) The effectiveness of green finance policy exhibits significant regional disparity, being markedly stronger in eastern China compared to central and western regions. The findings provide a theoretical and practical foundation for improving market mechanisms and regional coordination in China’s green finance policies, offering a valuable reference for the design of green finance systems in other major emerging and developing economies. Full article

Corporate ESG (Environmental, Social, and Governance) reporting is increasingly envisioned as evidence of accountability in the energy transition, yet persistent gaps remain between commitments and practices. This study applied the Global Reporting Initiative (GRI) framework—specifically indicators 302 (Energy) and 305 (Emissions)—to evaluate the credibility, scope, and strategic depth of disclosures by 20 Wisconsin (WI) firms in the energy, manufacturing, food, and service sectors. Guided by accountability and legitimacy theory, a comparative content analysis was conducted, complemented by Spearman correlation to examine associations between firm size and disclosure quality. Results show that while firms consistently report basic metrics such as total energy consumption and Scope 1 emissions, disclosures on Scope 3 emissions, renewable sourcing, and energy-efficiency achievements remain partial and selectively framed. Third-party assurance is inconsistently applied, and methodological transparency—such as external audit and coding protocols—is limited, weakening credibility. A statistically significant negative correlation was observed between annual revenue and disclosure quality, indicating that greater financial capacity does not necessarily translate into greater transparency. These findings highlight methodological and governance shortcomings, including reliance on generic ESG frameworks rather than climate-focused standards such as Task Force on Climate-related Financial Disclosures (TCFD). Integrated reporting approaches are recommended to improve comparability, credibility, and alignment with Wisconsin’s Clean Energy Transition Plan. Full article

Global efforts to achieve carbon neutrality increasingly rely on institutional green policy that reshape corporate environmental behavior. This study examines whether green policy improves corporate environmental performance (EP). Using panel data of the A-share listed firms from 2010 to 2022, we exploit the rollout of pilot cities as a quasi-natural experiment and apply a difference-in-differences (DID) framework, supplemented by double machine learning (DML) and robustness tests. The results show that the New Energy Demonstration City (NEDC) policy notably increases EP, with stronger effects for state-owned enterprises, large firms, and regulated industries. Mechanism analysis indicates that artificial intelligence innovation capacity and the stringency of regional environmental regulation amplify the policy’s effectiveness, revealing a “innovation–regulation” dual mechanism. By focusing on integrated EP rather than single outcomes, this paper extends the literature on green policy instruments. It demonstrates that structural policies combining fiscal incentives and regulatory constraints can correct market failures and foster long-term green transition. Beyond China, the findings provide insights for other developing economies where market-based instruments alone may be insufficient to trigger low-carbon transformation. Full article

This study investigates how improvements in energy efficiency (EE) contribute to the sustainable growth rate (SGR) of manufacturing firms. Using panel data from Chinese A-share listed companies between 2012 and 2023, we provide empirical evidence that higher EE significantly enhances firms’ ability to maintain long-term and stable growth. Furthermore, the findings reveal that executives’ green perception (EGP) and environmental protection investment (EPI) strengthen this positive relationship, while an excessive green innovation bubble (GIB) weakens it. By integrating insights from corporate governance and sustainability research, this study highlights the critical roles of managerial orientation, resource allocation, and innovation quality in shaping the pathway from EE to sustainable growth. The results extend the understanding of how micro-level corporate actions support global sustainability goals and provide a nuanced perspective on balancing efficiency and innovation. Practically, the findings suggest that managers should embed EE into strategic decisions, while policymakers should strengthen financial and institutional support to facilitate corporate green transition. This research contributes to the literature by offering new evidence from an emerging market context and by demonstrating the multidimensional mechanisms through which EE fosters corporate sustainable development. Full article

Corporate sustainability reporting is increasingly scrutinised as stakeholders’ demand credible commitments to environmental and social performance, especially in sectors where unsustainable practices are pervasive. The aim of this research is to examine—drawing on a systematic literature review (SLR) of 48 articles—how leadership discourse in sustainability reports influences stakeholder engagement and reflects the adoption of sustainable development standards over time. A longitudinal analysis of six years (2018–2023) of sustainability reports from a leading fast fashion company was conducted, integrating Topic Modelling to identify dominant themes in leadership communication and comparing them with key performance indicators related to climate, materials, energy, water, waste, and packaging. The results reveal a gradual evolution in leadership narratives, from broad aspirational statements emphasising ethical supply chains and social justice to more technical, performance-oriented language highlighting circularity, operational transparency, and climate action. However, the analysis also uncovers inconsistencies between declared objectives and measurable outcomes, suggesting tensions between symbolic and substantive sustainability commitments. These findings indicate that, while leadership discourse can mobilise stakeholder expectations and signal strategic priorities, its credibility depends on alignment with transparent, consistent performance data. This study contributes to understanding how discourse and practice interact in sustainability transitions, offering insights for enhancing reporting integrity. Full article

This study examines the integration of Environmental, Social, and Governance (ESG) principles within Romania’s residential real estate sector, concentrating on Constanța, a rapidly evolving urban centre in a transitional economy. Drawing on qualitative data from semi-structured interviews with local real estate professionals and secondary analysis of policy and market documents, the research uncovers inconsistencies in ESG implementation. Environmental compliance is advancing, largely driven by EU regulations such as the European Grean Deal, the Corporate Sustainability Reporting Directive and the Energy Performance of Buildings Directive. Voluntary certification schemes like BREEAM and LEED are emerging as benchmarks for environmental performance; however, their uptake remains limited and insufficiently tailored to local conditions. Meanwhile, the social and governance dimensions lag behind, characterised by inconsistent application and weak institutional backing. Key barriers to effective ESG integration in Romania’s residential real estate sector include weak regulatory enforcement, fragmented policies, limited green finance, low awareness, and a lack of standardised social value metrics. The study concludes that without moving beyond mere regulatory compliance to a framework embedding social inclusivity and adaptive governance, ESG efforts risk perpetuating existing inequalities. It calls for a reconceptualisation of ESG frameworks, developed for mature markets, to better suit transitional urban contexts and support long-term resilience in residential real estate. Full article

China’s national strategies emphasize both achieving carbon peaking and neutrality (“dual carbon” objectives) and fostering high-quality economic development. This dual focus highlights the critical importance of the Green and Low-Carbon Transition (GLCT) of the economy and the development of New Quality Productive Forces (NQPF). Firms are central actors in this transformation, prompting the core research question: How does corporate engagement in GLCT contribute to the formation of NQPF? We investigate this relationship using panel data comprising 33,768 firm-year observations for A-share listed companies across diverse industries in China from 2012 to 2022. Corporate GLCT is measured via textual analysis of annual reports, while an NQPF index, incorporating both tangible and intangible dimensions, is constructed using the entropy method. Our empirical analysis relies primarily on fixed-effects regressions, supplemented by various robustness checks and alternative econometric specifications. The results demonstrate a significantly positive relationship: corporate GLCT robustly promotes the development of NQPF, with dynamic lag structures suggesting delayed productivity realization. Mechanism analysis reveals that this effect operates through three primary channels: improved access to financing, stimulated collaborative innovation and enhanced resource-allocation efficiency. Heterogeneity analysis indicates that the positive impact of GLCT on NQPF is more pronounced for state-owned enterprises (SOEs), firms operating in high-emission sectors, those in energy-efficient or environmentally friendly industries, technology-intensive sectors, non-heavily polluting industries and companies situated in China’s eastern regions. Overall, our findings suggest that corporate GLCT enhances NQPF by improving resource-utilization efficiency and fostering innovation, with these effects amplified by specific regional advantages and firm characteristics. This study offers implications for corporate strategy, highlighting how aligning GLCT initiatives with core business objectives can drive NQPF, and provides evidence relevant for policymakers aiming to optimize environmental governance and foster sustainable economic pathways. Full article

What motivates industrial companies to decarbonise? While climate policy has intensified, the specific factors driving corporate decisions remain underexplored. This article addresses that gap through a mixed-methods study combining qualitative insights from a leading automotive supplier with quantitative data from over 800 manufacturing companies in Germany. The study distinguishes between internal motivators—such as risk reduction, future-proofing, and competitive positioning—and external drivers like regulation, supply chain pressure, and investor expectations. Results show that internal economic logic is the strongest trigger: companies act more ambitiously when decarbonisation aligns with their strategic interests. Positive motivators outperform external drivers in both influence and impact on ambition levels. For instance, long-term cost risks were rated more relevant than reputational gains or regulatory compliance. The analysis also reveals how company size, energy intensity, and supply chain position shape motivation patterns. The findings suggest a new framing for climate policy: rather than relying solely on mandates, policies should strengthen intrinsic motivators. Aligning business interests with societal goals is not only possible—it is a pathway to more ambitious, resilient, and timely decarbonisation. By turning external pressure into internal logic, companies can move from compliance to leadership in the climate transition. Full article