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Sustainable synergy: exploring the nexus of green initiatives and digitalization in gulf countries – a comprehensive study on environmental, social, and governance (ESG) indicators

Misal Ijaz, Farah Naz, Naila Sadiq

Journal of Science and Technology Policy Management

ISSN: 2053-4620

Article publication date: 15 January 2025

63

Abstract

Purpose

This research investigates the trajectory of Gulf region, focusing on the interplay between environmental, social and governance (ESG) factors and key elements – digital economy, green economy (GE), green finance, green energy and green innovation. This study aims to provide a nuanced understanding of how Gulf economies align their developmental pursuits with sustainability principles amidst the rapid evolution of digital technologies.

Design/methodology/approach

A data set of 95 listed companies from six Gulf Cooperation Council countries – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates – from year 2016 to 2022 was compiled from reputable sources. Using fixed effect regression techniques, this study explores relationships, accounting for individual and time-specific variations.

Findings

This study indicates that key factors – digital economy, GE, green energy and green innovation – significantly influence ESG performance across Gulf nations underscoring the potential for strategic integration of these elements to enhance sustainable practices. However, the nonsignificant impact of green finance highlights a need for further exploration and refinement of financial mechanisms to effectively contribute to ESG goals in the Gulf region.

Research limitations/implications

The findings underscore the importance for Gulf policymakers to prioritize ongoing support and policy formulation fostering digitalization and green initiatives. Businesses in the region can enhance ESG performance by integrating sustainable practices, promoting long-term resilience and reputation. Investors and financial institutions can use these insights to guide investment decisions, prioritizing projects contributing to environmental sustainability and social responsibility.

Originality/value

Amidst the current sustainability imperative, this research holds unique value in its timely exploration of the Gulf region’s sustainable landscape, providing crucial insights into the interplay between ESG factors and digital and green initiatives.

Keywords

Acknowledgements

Declaration: The analysis and findings presented in this research solely rely on traditional research methodologies, data collection and analysis techniques. No artificial intelligence tools were used throughout the study.

Conflict of interest: The authors declare no conflict of interest.

Research funding: The authors hereby declare that no research funding has been obtained.

Citation

Ijaz, M., Naz, F. and Sadiq, N. (2025), "Sustainable synergy: exploring the nexus of green initiatives and digitalization in gulf countries – a comprehensive study on environmental, social, and governance (ESG) indicators", Journal of Science and Technology Policy Management, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JSTPM-01-2024-0015

Publisher

:

Emerald Publishing Limited

Copyright © 2024, Emerald Publishing Limited

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