ESG in the context of clean energy

Renan Zunta Raia , Karla Kososki Barth , Noeli Dias Dourado and Marcio Heron da Silveira Júnior

Abstract
This article, through a systematic literature review, analyzes the implementation of ESG (environmental, social, and governance) practices in the context of clean energy, exploring the challenges and opportunities that surround this crucial transition towards a more sustainable future. The research encompasses scientific articles published over the last ten years, focusing on studies that address the relationship between ESG and clean energy development. The analysis of the articles highlights the importance of government participation in implementing ESG solutions in the clean energy sector, emphasizing the need for effective public policies to drive the transition to a more sustainable energy future. Creating effective public policies, promoting international cooperation, standardizing ESG reporting, and encouraging behavioral change are essential to drive the transition to a more sustainable energy future. While the implementation of ESG practices in the clean energy sector faces a number of challenges, the articles analyzed demonstrate that in the long term, the adoption of ESG practices can boost profitability and company value, attracting investments and contributing to building a more sustainable energy future. The key to maximizing profits in this sector lies in seeking effective and transparent solutions that enable the integration of ESG criteria, minimizing risks and maximizing the positive impact of ESG practices in the clean energy sector.

Keywords
ESG; Clean energy; Sustainability; Energy transition.

Resumo
ESG no contexto da energia limpa. O presente artigo, através de uma revisão bibliográfica sistemática, analisa a implementação de práticas ESG (ambiental, social e governança) no contexto da energia limpa, explorando os desafios e as oportunidades que permeiam essa transição crucial para um futuro mais sustentável. A pesquisa abrange artigos científicos publicados nos últimos dez anos, focando em estudos que abordam a relação entre o ESG e o desenvolvimento de energia limpa. A análise dos artigos evidencia a importância da participação do governo na implementação de soluções ESG no setor de energia limpa, destacando a necessidade de políticas públicas eficazes para impulsionar a transição para um futuro energético mais sustentável. A criação de políticas públicas eficazes, a promoção de cooperação internacional, a padronização de relatórios ESG e o incentivo à mudança de comportamento são essenciais para impulsionar a transição para um futuro energético mais sustentável. Embora a implementação de práticas ESG no setor de energia limpa enfrente uma série de desafios, os artigos analisados demonstram que em longo prazo, a adoção de práticas ESG pode impulsionar a lucratividade e o valor das empresas, atraindo investimentos e contribuindo para a construção de um futuro energético mais sustentável. A chave para a maximização dos lucros nesse setor reside na busca por soluções eficazes e transparentes que possibilitem aintegração de critérios ESG, minimizando os riscos e maximizando o impacto positivo das práticas ESG no setor de energia limpa.

Palavras-chave
Energia renovável; Recuperação energética; Efeito rebote; Desenvolvimento sustentável; Desenvolvimento tecnológico.

DOI
10.21438/rbgas(2025)123011


Full text

 Baixar este arquivo PDF

 


References
Chen, S.; Song, Y.; Gao, P. Environmental, social, and governance (ESG) performance and financial outcomes: Analyzing the impact of ESG on financial performance. Journal of Environmental Management, v. 345, 118829, 2023. https://doi.org/10.1016/j.jenvman.2023.118829

Chu, E. W.; Karr, J. R. Environmental impact: Concept, consequences, measurement. In: Encyclopedia of Biodiversity. 2. ed. Amsterdam: Elsevier, 2013. p. 278-296. https://doi.org/10.1016/B978-0-12-384719-5.00253-7

Dănilă, A.; Horga, M.-G.; Oprișan, O.; Stamule, T. Good practices on ESG reporting in the context of the European Green Deal. Amfiteatru Economic, v. 26, n. 61, p. 847-860, 2022. https://doi.org/10.24818/EA/2022/61/847

Feder, J. ESG and energy transition balancing value and values in a post-pandemic World. Journal of Petroleum Technology, v. 72, n. 6, p. 18-21, 2020. https://doi.org/10.2118/0620-0018-JPT

Fink, L. A fundamental reshaping of finance. BlackRock, 2020. Available from: <https://www.blackrock.com/corporate/investor-relations/2020-larry-fink-ceo-letter>. Accessed on: Nov. 25, 2024.

Hertwich, E.; Lifset, R.; Pauliuk, S.; Heeren, N. Resource efficiency and climate change: Material efficiency strategies for a low-carbon future. Nairobi, Kenya: United Nations Environment Programme, 2020. (A report of the International Resource Panel).

Huo, J.; Peng, C. Depletion of natural resources and environmental quality: Prospects of energy use, energy imports, and economic growth hindrances. Resources Policy, v. 86, Part A, 104049, 2023. https://doi.org/10.1016/j.resourpol.2023.104049

Jamali, D.; R. B. Barkemeyer, R.; Samara, G.; Markovic, S. The SDGs: A change agenda shaping the future of business and humanity at large. Business Ethics, Environment & Responsability, v. 31, n. 4, p. 899-903, 2022. https://doi.org/10.1111/beer.12483

Kadaba, M. K. M.; Aithal, P. S.; Sharma, K. R. S. Impact of sustainable finance on MSMEs and other companies to promote green growth and sustainable development. International Journal of Applied Engineering and Management Letters, v. 6, n. 1, p. 60-76, 2022. https://doi.org/10.2139/ssrn.4038990

Kanamura, T. Clean energy and (E)SG investing from energy and environmental linkages. Environment, Development and Sustainability, v. 25, p. 9779-9819, 2022. https://doi.org/10.1007/s10668-022-02460-x

Kumar, M.; Purnanandam, A. Carbon emissions and shareholder value: Causal evidence from the U.S. Power Utilities. SSRN Working Paper, 2022. https://doi.org/10.2139/ssrn.4279945

Lakeh, H. K. What are the advantages and disadvantages of renewable energy? GreenMatch, 2024. Available from: <https://www.greenmatch.co.uk/blog/2021/09/advantages-and-disadvantages-of-renewable-energy>. Accessed on: Sept. 27, 2024.

Lee, S. K.; Choi, G.; Roh, T.; Lee, S. Y.; Um, D.-B. Exploring the impact of environmental, social, and governance on clean development mechanism implementation through an institutional approach. Frontiers in Psychology, v. 13, 890524, 2022. https://doi.org/10.3389/fpsyg.2022.890524

Liu, H.; Li, X.; Zheng, S. Balancing economic growth and environmental conservation: Assessing supportive policies in resources-based cities in China. Systems, v. 12, n. 12, 521, 2024. https://doi.org/10.3390/systems12120521

Lopes, J. M.; Gomes, S.; Pacheco, R.; Monteiro, E.; Santos, C. Drivers of sustainable innovation strategies for increased competition among companies. Sustainability, v. 14, n. 9, 5471, 2022. https://doi.org/10.3390/su14095471

Markopoulos, E.; Ramirez, A.; Markopoulos, P.; Vanharanta, H. Gamification in a democratic pro-environmental behaviour model towards achieving effective ESG corporate strategies. In: Markopoulos, E.; Goonetilleke, R. S.; Luximon, Y. (Eds). Creativity, innovation and entrepreneurship. New York: AHFE International, 2022. v. 31. p. 104-114. (AHFE 2022 International Conference). https://doi.org/10.54941/ahfe1001512

McCollum, D. L.; Zhou, W.; Bertram, C.; De Boer, H.-S.; Bosetti, V.; Busch, S.; Després, J.; Drouet, L.; Emmerling, J.; Fay, M.; Fricko, O.; Fujimori, S.; Gidden, M.; Harmsen, M.; Huppmann, D.; Iyer, G.; Krey, V.; Kriegler, E.; Nicolas, C.; Pachauri, S.; Parkinson, S.; Poblete-Cazenave, M.; Rafaj, P.; Rao, N.; Rozenberg, J.; Schmitz, A.; Schoepp, W.; Van Vuuren, D.; Riahi, K. Energy investment needs for fulfilling the Paris Agreement and achieving the Sustainable Development Goals. Nature Energy, v. 3, n. 7, p. 589-599, 2018. https://doi.org/10.1038/s41560-018-0179-z

Munro, A. Comment on "Green innovation and finance in Asia". Asian Economic Policy Review, v. 16, n. 1, p. 88-89, 2021. https://doi.org/10.1111/aepr.12325

Nerini, F. F.; Tomei, J.; To, L. S.; Bisaga, I.; Parikh, P.; Black, M.; Borrion, A.; Spataru, C.; Broto, V. C.; Anandarajah, G.; Milligan, B.; Mulugetta, Y. Mapping synergies and trade-offs between energy and the sustainable development goals. Nature Energy, v. 3, n. 1, p. 10-15, 2017. https://doi.org/10.1038/s41560-017-0036-5

Olabi, A. G.; Elsaid, K.; Obaideen, K.; Abdelkareem, M. A.; Rezk, H.; Wilberforce, T.; Maghrabie, H. M.; E Sayed, E. T. Renewable energy systems: Comparisons, challenges and barriers, sustainability indicators, and the contribution to UN sustainable development goals. International Journal of Thermofluids, v. 20, 100498, 2023. https://doi.org/10.1016/j.ijft.2023.100498

Parsons, R.; Lacey, J.; Moffat, K. Maintaining legitimacy of a contested practice: How the minerals industry understands its 'social licence to operate'. Resources Policy, v. 41, p. 83-90, 2014. https://doi.org/10.1016/j.resourpol.2014.04.002

Saraji, M. K.; Streimikiene, D. Challenges to the low carbon energy transition: A systematic literature review and research agenda. Energy Strategy Reviews, v. 49, 101163, 2023. https://doi.org/10.1016/j.esr.2023.101163

Smil, V. Grand transitions: How the modern World was made. Oxford: Oxford University Press, 2021. https://doi.org/10.1093/oso/9780190060664.001.0001

Tolliver, C.; Fujii, H.; Keeley, A. R.; Managi, S. Green innovation and finance in Asia. Asian Ecocomic Policy Review, v. 16, n. 1, p. 67-87, 2021. https://doi.org/10.1111/aepr.12320

UN - United Nations. Global Sustainable Development Report 2015. New York: UN, 2015. (Advance unedited version). Available from: <https://sdgs.un.org/publications/global-sustainable-development-report-2015-advance-unedited-version-gsdr-2015-17874>. Accessed on: Nov. 25, 2024.


 

ISSN 2359-1412