Search Results (225)

Digital transformation (DT) has emerged as a key strategic lever for enhancing firm resilience and competitiveness, yet its influence on non-productive investment behaviors, such as corporate financial investment, remains underexplored. Existing studies have largely focused on DT’s role in innovation and operational efficiency, leaving a significant gap in understanding how DT reshapes firms’ financial asset allocation. Drawing on a unique panel dataset of A-share main board-listed firms in China from 2011 to 2023, this study provides novel empirical evidence that DT significantly restrains financial investment, with pronounced heterogeneity across ownership types. More importantly, this paper uncovers a multi-layered mechanism: DT enhances the corporate information environment, which subsequently reduces financial investment. In addition, the analysis reveals a moderated mediation mechanism wherein economic uncertainty dampens the information-enhancing effect of DT. Unlike previous research that treats corporate risk-taking as a parallel mediator, this study identifies a sequential mediation pathway, where improved information environments suppress financial investment indirectly by influencing firms’ risk-taking behavior. These findings offer new theoretical insights into the financial implications of DT and contribute to the broader understanding of enterprise behavior in the context of digitalization and economic volatility. Full article

This study evaluates the effectiveness of the B Impact Assessment (BIA) as a catalyst for integrating sustainability into industrial firms through a qualitative case study of LC Paper, the first B Corp-certified tissue manufacturer globally and a pioneer in applying BIA in the pulp and paper sector. Based on semi-structured interviews, organizational documents, and direct observation, this study examines how BIA influences corporate governance, environmental practices, and stakeholder engagement. The findings show that BIA fosters structured goal setting and the implementation of measurable actions aligned with environmental stewardship, social responsibility, and economic resilience. Tangible outcomes include improved stakeholder trust, internal transparency, and employee development, while implementation challenges such as resource allocation and procedural complexity are also reported. Although the single-case design limits generalizability, this study identifies mechanisms transferable to other firms, particularly those in environmentally intensive sectors. The case studied also illustrates how leadership commitment, participatory governance, and data-driven tools facilitate the operationalization of sustainability. By integrating stakeholder and institutional theory, this study contributes conceptually to understanding certification frameworks as tools for embedding sustainability. This research offers both theoretical and practical insights into how firms can align strategy and impact, expanding the application of BIA beyond early adopters and into traditional industrial contexts. Full article

This study examines the progress, challenges, and successes in implementing Sustainable Development Goal 12 (SDG12), focusing on responsible consumption and production, using Qatar as a case study. The State has integrated Sustainable Consumption and Production (SCP) into national policies, established coordination mechanisms, and implemented action plans aligned with SDG12 targets. Achievements include renewable energy adoption, waste management reforms, and sustainable public procurement, though challenges persist in rationalizing fossil fuel subsidies, addressing data gaps, and enhancing corporate sustainability reporting. Efforts to reduce food loss and waste through redistribution programs highlight the country’s resilience, despite logistical obstacles. The nation has also advanced hazardous waste management, environmental awareness, and sustainable tourism policies, though gaps in data systems and policy coherence remain. Qatar’s approach provides a valuable local-to-global example of balancing resource-dependent economies with sustainability goals. Its strategies and lessons offer potential adaptability for other nations, especially those facing similar challenges in achieving SDG12. By strengthening data systems, enhancing policy integration, and fostering regional and international cooperation, Qatar’s efforts underscore the importance of aligning economic growth with environmental stewardship, serving as a blueprint for global sustainability initiatives. Full article

Small-scale farms deserve attention and support because they play crucial and important roles. Apart from ensuring provision of food security, they also provide other economic, environmental, and social–cultural benefits. In the United States of America, these farms are agriculturally, culturally, and geographically different. They have varied needs that trigger an array of distinct biophysical, socioeconomic, and institutional challenges. The effects of these challenges are exacerbated by economic uncertainty, technological advancements, climate change, and other environmental concerns. To provide ideal services to the small-scale farm audience, it is necessary to understand these challenges and opportunities that can be leveraged to enhance their productivity and profitability. This article reviews the challenges faced by small-scale farming in the United States of America. It then reviews possible pathways to enhance their productivity and profitability. The review revealed that U.S. small-scale farms face several challenges. They include accessing farmland, credit and capital, lack of knowledge and skills, and technology adoption. Others are difficulties to insure, competition from corporations, and environmental uncertainties associated with climate change. The paper then reviews key pathways to enhance small-scale farmers’ capacities and resilience with a positive impact on their productivity and profitability. They are enhanced cooperative extension services, incentivization, strategic marketing, annexing technology, and government support, among others. Based on the diversity of farms and their needs, responses should be targeted towards individual needs. Since small-scale farm products have an effect on human health and dietary patterns, strategies to increase productivity should be linked to nutrition and health. Full article

Energy-intensive industries (EIIs) face mounting pressure to reduce greenhouse gas emissions while maintaining international competitiveness—a balance that is central to achieving the EU’s 2030 and 2050 climate objectives. In this context, energy management (EM) emerges as a strategic instrument to decouple industrial growth from fossil energy consumption. This study proposes a redefinition of EM to support carbon-neutral supply chains within the European Union’s EIIs, addressing critical limitations of conventional EM frameworks under increasingly stringent carbon regulations. Using a modified systematic literature review based on PRISMA methodology, complemented by expert insights from EU Member States, this research identifies structural gaps in current EM practices and highlights opportunities for integrating sustainable innovations across the whole industrial value chain. The proposed EM concept is validated through an analysis of 24 EM definitions, over 170 scientific publications, and over 80 EU legal and strategic documents. The framework incorporates advanced digital technologies—including artificial intelligence (AI), the Internet of Things (IoT), and big data analytics—to enable real-time optimisation, predictive control, and greater system adaptability. Going beyond traditional energy efficiency, the redefined EM encompasses the entire energy lifecycle, including use, transformation, storage, and generation. It also incorporates social dimensions, such as corporate social responsibility (CSR) and stakeholder engagement, to cultivate a culture of environmental stewardship within EIIs. This holistic approach provides a strategic management tool for optimising energy use, reducing emissions, and strengthening resilience to regulatory, environmental, and market pressures, thereby promoting more sustainable, inclusive, and transparent supply chain operations. Full article

Prior research often portrays Corporate Social Responsibility (CSR) as a coercive institutional force compelling firms to passively conform for legitimacy. More recent studies, however, suggest firms actively pursue CSR to gain sustainable competitive advantages. Yet, how and when CSR buffers firms against adverse shocks of crises remains insufficiently understood. This study addresses this gap by using multiple regression analysis to examine the buffering effects of CSR investments during the COVID-19 crisis, which severely disrupted capital markets and firm valuation. Drawing on signaling theory and CSR literature, we analyze the stock market performance of China’s A-share listed firms using a sample of 2577 observations as of the end of 2019. Results indicate that firms with higher CSR investments experienced significantly greater cumulative abnormal returns during the pandemic. Moreover, the buffering effect is amplified among firms with higher debt burdens, greater financing constraints, and those operating in regions with stronger social trust and more severe COVID-19 impact. These findings are robust across multiple robustness checks. This study highlights the strategic value of CSR as a resilience mechanism during crises and supports a more proactive view of CSR engagement for sustainable development, complementing the traditional legitimacy-focused perspective in existing literature. Full article

Global low-carbon innovation networks face increasing vulnerabilities amid growing geopolitical tensions and technological competition. The interdependent structure of low-carbon innovation networks and the risk propagation dynamics within them remain poorly understood. This study investigates vulnerability patterns by constructing a two-layer interdependent network model based on Chinese low-carbon patent data, comprising a low-carbon collaboration network of innovation entities and a low-carbon knowledge network of technological components. Applying dynamic shock propagation modeling, we analyze how risks spread within and between network layers under various shocks. Our findings reveal significant differences in vulnerability distribution: the knowledge network consistently demonstrates greater susceptibility to cascading failures than the collaboration network, reaching complete system failure, while the latter maintains partial resilience, with resilience levels stabilizing at approximately 0.64. Critical node analysis identifies State Grid Corporation as a vulnerability point in the collaboration network, while multiple critical knowledge elements can independently trigger system-wide failures. Cross-network propagation follows distinct patterns, with knowledge-network failures consistently preceding collaboration network disruptions. In addition, propagation from the collaboration network to the knowledge network showed sharp transitions at specific threshold values, while propagation in the reverse direction displayed more gradual responses. These insights suggest tailored resilience strategies, including policy decentralization approaches, ensuring technological redundancy across critical knowledge domains and strengthening cross-network coordination mechanisms to enhance low-carbon innovation system stability. 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

The scientific measurement of corporate resilience is a prerequisite for identifying risk vulnerabilities, formulating targeted support policies, and enhancing the stability of the economic system. This paper utilizes data from 2054 listed companies on China’s A-share market from 2007 to 2023 to construct a corporate resilience evaluation system integrating three dimensions: risk resistance, adaptive adjustment, and recovery growth. Using a multi-level dynamic factor analysis, it depicts the multi-dimensional structure of resilience while introducing time series dynamic changes. This study found that corporate resilience has shown a steady upward trend overall, with phased fluctuations before and after major crisis events, which is highly consistent with macro- and microeconomic indicators. And fluctuations are primarily concentrated among low-resilience enterprises. The further analysis of low-resilience enterprises revealed the following: At the industrial level, compared with the primary industry, the secondary and tertiary industries have a higher proportion of low-resilience enterprises. At the regional level, the proportion of low-resilience enterprises in eastern and central regions decreased during shocks, while western regions showed a significant divergence, and northeastern regions consistently underperformed. This study offers empirical evidence and management insights for strengthening corporate resilience and enhancing the resilience of China’s economy. It also offers valuable insights for other countries in addressing external uncertainties and building economic resilience. Full article

Corporate resilience, a critical metric assessing firms’ capacity to withstand risks, recover rapidly, and maintain growth in dynamic environments, has garnered increasing attention from academia and industry. This study employs China’s Green Factory certification policy within its green manufacturing system as a quasi-natural experiment, utilizing a multi-period difference-in-differences (DID) model to evaluate the impact of green manufacturing implementation on corporate resilience. Results confirm that Green Factory certification significantly enhances firms’ resilience. Mechanism analyses identify three reinforcing pathways: alleviating financing constraints, optimizing resource allocation efficiency, and fostering green technological innovation. Heterogeneity analyses reveal more pronounced effects among heavily polluting industries, firms with low reputations, and those with higher levels of managerial myopia. Furthermore, the certification exhibits significant spillover effects, transmitting resilience improvements to industry peers and geographic clusters. This research expands the theoretical boundaries of corporate resilience literature while offering practical implications and empirical evidence for enterprises undergoing green manufacturing transitions. Full article

Climate change risk has significant impacts on corporate financial activities. Using firm-level data from A-share listed companies in China from 2010 to 2022, we examine how climate risk affects corporate debt financing capacity. We find that climate change risk significantly weakens firms’ ability to raise debt, leading to lower leverage and higher financing costs. These results remain robust across various checks for endogeneity and alternative specifications. We also show that reducing corporate carbon emission intensity can mitigate the negative impact of climate risk on debt financing, suggesting that supply-side credit policies are more effective than demand-side capital structure choices. Furthermore, we identify three channels through which climate risk impairs debt capacity: reduced competitiveness, increased default risk, and diminished resilience. Our heterogeneity analysis reveals that these adverse effects are more pronounced for non-state-owned firms, firms with weaker internal controls, and companies in highly financialized regions, and during periods of heightened environmental uncertainty. We also apply textual analysis and machine learning to the measurement of climate change risks, partially mitigating the geographic biases and single-dimensional shortcomings inherent in macro-level indicators, thus enriching the quantitative research on climate change risks. These findings provide valuable insights for policymakers and financial institutions in promoting corporate green transition, guiding capital allocation, and supporting sustainable development. Full article

The rapid advancement and broad adoption of digital technologies have infused ESG practices with new dimensions and significance. Drawing on panel data from Chinese A-share listed companies spanning from 2012 to 2023, this paper aims to explain the impact of digital transformation on corporate ESG performance, explore its mechanisms and external regulatory effects, and provide systematic ideas and methods for improving corporate ESG performance from the perspective of digital transformation. The key findings of this study are summarized as follows: (1) Digital transformation (DT) has a significant positive effect on corporate ESG performance, and this association remains statistically robust following multiple robustness tests and a correction for potential endogeneity. (2) An analysis of the entire operational process reveals that DT improves ESG performance through enhancing environmental information disclosure quality, strengthening the integration of digital and physical industry technologies, and bolstering supply chain resilience. (3) The implementation of the “Broadband China” strategy exerts a positive moderating effect on the linkage between DT and ESG performance. (4) A heterogeneity analysis shows that the positive impact of DT on ESG performance is more significant and stable in non-state-owned enterprises, eastern regions, less-polluted areas, and growth stage enterprises. These findings offer theoretical and empirical insights for understanding ESG performance drivers. However, the focus on Chinese A-share firms and the use of Sino-Securities ratings may limit generalizability, warranting further improvement. Full article

This study conducts a comparative assessment of the environmental, social, and governance (ESG) integration strategies of three leading companies in Hong Kong—H&M Group, China Gas Company Limited (Towngas), and MTR Corporation Limited (MTR)—each operating in distinct sectors with unique sustainability challenges and opportunities. The analysis adopts the Challenge–Evaluation–Planning–Action–Review (CEPAR^®) framework developed by the International Chamber of Sustainable Development to examine how these companies identify and evaluate ESG-related risks, formulate action plans, implement sustainability initiatives, and refine their strategies. The findings reveal H&M’s strong emphasis on sustainable fashion, with a target of using 100% sustainable materials by 2030 and reducing greenhouse gas emissions by 56%. Towngas faces the complex challenge of transitioning from fossil fuels to cleaner energy and is investing in zero-carbon technologies to meet regulatory standards and stakeholder expectations. MTR focuses on sustainable urban development and efficient mass transit, prioritizing community engagement and reducing environmental impact. This study underscores the importance of sector-specific ESG approaches tailored to a company’s operational context. It also demonstrates how ESG integration is enhanced by proactive planning, transparent reporting, and alignment with long-term corporate values. By showcasing both successful practices and areas requiring further attention, this research contributes to the broader discourse on sustainable business practices in Hong Kong. Moreover, it provides actionable policy implications for government agencies and regulatory bodies. The insights gained can inform strategic decision-making across sectors and support the development of a more sustainable, resilient, and inclusive economy aligned with Hong Kong’s long-term climate and governance goals. Full article

Extreme rainfall events driven by climate change are increasing flood risks. Addressing flood mitigation solely from either a hydraulic engineering or urban planning perspective may overlook both feasibility and effectiveness. This study focuses on Tainan City and the Tainan Science Park in Taiwan, applying the NbS framework to assess flood mitigation strategies. From an urban planning perspective, Agricultural Development Zone Type II (Agri-DZII), parks, green spaces, and Taiwan Sugar Corporation (TSC) land were selected as flood detention sites. Hydraulic modeling was used to evaluate their effectiveness under both current and climate-change-induced rainfall conditions. Simulation results show that under current rainfall conditions, flood mitigation measures reduced inundated areas with depths exceeding 2.0 m by up to 7.8% citywide and 20.8% within the Tainan Science Park Special District Plan Area. However, under climate change scenarios, the reduction effects declined significantly, with maximum reductions of only 1.6% and 17.8%, respectively. Results indicate that, even when utilizing all available detention areas, the overall flood reduction in Tainan City remains limited. However, TSC agri-land within the Tainan Science Park overlaps with high-flood-risk zones, demonstrating significant local flood mitigation potential. This study recommends integrating hydrological analysis into urban planning to prevent high-density residential and economic zones from being designated in flood-prone areas. Additionally, policymakers should consider reserving appropriate land for flood detention to enhance climate resilience. By combining urban planning and hydraulic engineering perspectives, this study highlights the flexibility of NbS in disaster management, advocating for the integration of Natural Water Detention Measures into flood adaptation strategies to improve urban water management and climate adaptability. Full article

Oil palm cultivation plays a critical role in rural livelihoods in Indonesia, yet previous research has often overlooked systematic institutional differences among smallholders. This study aims to analyze disparities in assets, strategies, and livelihood outcomes among three oil palm smallholder typologies—ex-Perkebunan Inti Rakyat (PIR) transmigrant smallholders who received land through government transmigration programs, independent smallholders who cultivate oil palm without formal partnerships, and plasma smallholders operating under corporate partnership schemes—in Central Mamuju Regency, West Sulawesi. A descriptive quantitative approach based on the sustainable livelihoods framework was employed, using chi-square analysis of data collected from 90 respondents through structured interviews and field observations. The results show that ex-PIR smallholders possess higher physical, financial, and social capital and achieve better income and welfare outcomes compared to independent and plasma smallholders. Independent smallholders exhibit resilience through diversified livelihood strategies, whereas plasma smallholders face asset limitations and structural dependency on partner companies, increasing their economic vulnerability. The study concludes that differentiated policy approaches are necessary to enhance the resilience of each group, including improving capital access, promoting income diversification, and strengthening institutions for plasma smallholders. Future research should expand geographical scope and explore factors such as technology adoption, gender dynamics, and intergenerational knowledge transfer to deepen understanding of sustainable smallholder livelihoods in tropical plantation contexts. Full article