Do ESG and Diversity Scores Predict Global Firms’ Environmental Innovation

Bibliographic Data

ID21641571
AuthorsMehmet Bahri Saydam (0000-0002-7920-4959, Faculty of Tourism, Eastern Mediterranean University, Gazimagusa, Turkey), Victor Oluwafemi Olorunsola (0000-0001-7326-7951, Faculty of Tourism, Eastern Mediterranean University, Gazimagusa, Turkey), Hasan Evrim Arici (0000-0003-3429-4513, Faculty of Tourism, Kastamonu University, Kastamonu, Turkey), Mehmet Ali Koseoglu (0000-0001-9369-1995, Metropolitan State University, corresponding author)
Year2024
Volume33
Issue3
Pages410-442
Publication date2024-09-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Journal of Environment & Development (JOURNAL)
Journal identifiersISSN: 1070-4965 • E-ISSN: 1552-5465
PublisherSAGE Publications (PUBLISHER • US)
DOI10.1177/10704965241238292
OpenAlexW4392750999
LanguageEN
Citations received2
References cited83

Environmental innovation (EI) is fundamental to sustainable development goal (SDG) number 9. Indirectly, it contributes to the achievement of SDG 7 by laying the groundwork for producing renewable energy. Firms involve environmental, social, and governance (ESG) and diversity practices to achieve sustainable success. ESG and diversity scores on EI need to be predicted, yet EI predictors are few in the research. Our institutional theory-based study examines whether ESG and diversity scores influence EI scores in multinational organizations. The dataset comprises information from the Refinitiv Eikon database, including 430 publicly traded firms worldwide throughout 2021. The results of our study indicate that the environmental pillar score, ESG, and workforce score are the three most significant factors for calculating enterprises’ EI scores. This research provides valuable insights into enhancing sustainability practices and fostering innovation in global firms, offering a practical roadmap for businesses striving to achieve these objectives

Business · Corporate governance · Corporate social responsibility · Economic growth · Economics · Environmental governance · Environmental resource management · Industrial organization · Multinational corporation · Pillar · Political science · Public relations · Sustainability · Sustainable development · Workforce · Workforce diversity · Energy, Environment, Economic Growth · Environmental Sustainability in Business · Sustainable Supply Chain Management · Ecology · Finance

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