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Environmental, social and governance (ESG) can enhance the sustainable value and profitability of assets by improving environmental responsibility, social benefits and governance quality. However, there is a lack of research on the ESG aspects of the asset sustainability of infrastructure Real Estate Investment Trusts (REITs), particularly in terms of how ESG affects asset sustainability and their intrinsic relationships. Therefore, this study aims to explore the ESG factors affecting the asset sustainability of infrastructure REITs and their intrinsic linkages, in order to enhance the long-term sustainability of the asset.

The study employed structural equation modeling (SEM) to analyze the relationship between ESG factors and the sustainability of infrastructure REITs, through a comprehensive literature review and questionnaire survey to collect data. This method aims to provide a quantitative analysis framework to assess the impact strength and interactions of these factors.

The 11 ESG factors positively influence the sustainability of infrastructure assets. Specifically, carbon emission management, information disclosure and infrastructure asset management have the most substantial impacts, with path coefficients of 0.830, 0.814 and 0.817, respectively. Measures such as optimizing resource use, enhancing transparency and improving operational efficiency contribute to increased asset sustainability. Also, interviews indicate that asset managers and corporate executives with overseas educational backgrounds play a crucial role in the ESG management of infrastructure assets. Sustainability can be enhanced by promoting sustainable technologies and enhancing cross-cultural communication.

The results offer guidance for infrastructure REIT managers and policymakers, emphasizing the importance of strengthening specific ESG practices to enhance sustainability. This provides an empirical basis for optimizing ESG policies and practices, helping to advance infrastructure REITs towards more sustainable development directions.

This study offers new insights into the field of ESG for infrastructure REITs in China by providing specific analysis of ESG factors and applying SEM. The originality of this study lies in its deep exploration of the specific impact factors within the ESG dimensions and quantifying their relationship with sustainability, offering strong scientific support for the sustainable development practices of infrastructure REIT.

Given the increasing importance of engineering insurance, it is still unclear which specific factors can enhance the role of engineering insurance as a risk transfer tool. This study aims to propose a hybrid approach to identify and analyze the key determinants influencing the consumption of engineering insurance in mainland China.

The empirical analysis utilizes provincial data from mainland China from 2008 to 2019. The research framework is a novel amalgamation of the generalized method of moments (GMM) model, the quantile regression (QR) technique and the random forest (RF) algorithm. This innovative hybrid approach provides a comprehensive exploration of the driving factors while also allowing for an examination across different quantiles of insurance consumption.

The study identifies several driving factors that significantly impact engineering insurance consumption. Income, financial development, inflation, price, risk aversion, market structure and the social security system have a positive and significant influence on engineering insurance consumption. However, urbanization exhibits a negative and significant effect on the consumption of engineering insurance. QR techniques reveal variations in the effects of these driving factors across different levels of engineering insurance consumption.

This study extends the research on insurance consumption to the domain of the engineering business, making theoretical and practical contributions. The findings enrich the knowledge of insurance consumption by identifying the driving factors specific to engineering insurance for the first time. The research framework provides a novel and useful tool for examining the determinants of insurance consumption. Furthermore, the study offers insights into the engineering insurance market and its implications for policymakers and market participants.