Nasiru Zubairu, Ahmed Mohammed and Zeinab Zohny
Despite the increasing demand for renewable energy (RE) as a low-carbon energy source, the transition to RE is very slow in many regions, including Oman, the case country for this…
Abstract
Purpose
Despite the increasing demand for renewable energy (RE) as a low-carbon energy source, the transition to RE is very slow in many regions, including Oman, the case country for this study. It is critical to offer strategic insights to energy supply chain participants towards the sustainable transition to renewable energy (STRE). The purpose of this study is to identify viable RE sources in Oman as a case study of a GCC member country, develop a comprehensive framework of STRE, and suggest future research opportunities.
Design/methodology/approach
The paper addressed this problem through a country/regional study of Oman by conducting a systematic literature review (SLR) of RE-related peer-reviewed publications spanning over 21 years from January 2000 to February 2021. The qualifying articles are evaluated using template analysis qualitatively to identify viable renewable energy sources, build a holistic framework of STRE and recommend future research opportunities.
Findings
Findings confirm the potential of solar, wind, biomass and geothermal energies driven by environmental, economic and social sustainability concerns. However, results suggest that to fast-track the STRE, more emphasis should be accorded to solar and wind energies owing to the geographical composition of Oman. Findings reveal that policies and regulations, advanced and cost-effective technologies, subsidy regimes, grid connectivity and capacity, storage capacity and land availability influence the STRE. Gaps in the literature are identified from the results to clarify and suggest future research opportunities.
Originality/value
To the best of the authors’ knowledge, this is the first study that conducted an SLR that was evaluated using the template analysis technique to build a novel and updated framework that facilitates a crystalline understanding of STRE to guide policymakers and professionals in strategic decision-making.
Details
Keywords
Green investment funds are still imperative in clarifying the fundamental components of their relationship to sustainability. This study aims to investigate the impact of…
Abstract
Purpose
Green investment funds are still imperative in clarifying the fundamental components of their relationship to sustainability. This study aims to investigate the impact of different factors, such as green product design and innovation, green product entry barriers and green environmental awareness, on the success of green investment funds projects to finance environmentally friendly products. The research also investigates how green investment funds facilitate these factors to encourage environmentally sustainable business.
Design/methodology/approach
This paper used a questionnaire to collect insights from 210 green entrepreneurs in Asia, Africa, Europe and America. The data were then investigated using statistical tools, such as quantitative analysis of green entrepreneur surveys collected from various industries. The relationship between green product design and innovation, barriers to entry, environmental awareness and green entrepreneurship performance was investigated using partial least squares structural equation modelling, with green investment funds as a mediator.
Findings
The results indicate that every construct/variable included in the study supported the success of the sustainable business. The observation was made that the development phase tends to diminish the positive relationship between the success of green investment funds and green product codesign strategies. Implementing green product design and innovation improves the success of a green firm. Also, the progress of such companies might be hindered by entry barriers, and corporate performance is improved by environmentalism. This study found the role of green investment funds in promoting product innovation and positive environmental outcomes while reducing barriers to entry.
Significance of the study
Given these results, this work provides a theoretical explanation. Also, it gives doable recommendations for more successful green investment funds of environmentally friendly goods. The analysis emphasises the need for green product innovation and investment funds to mitigate entry obstacles. Corporate entities, investors and lawmakers receive pragmatic guidance on sustainable business practices.
Originality/value
This research, unique because of its multidisciplinary methodology and theoretical advances, examines the relationship between business, finance and sustainability. It provides valuable insights for academics, professionals and decision-makers, enhancing the understanding of green investment and entrepreneurship and offering practical global sustainable economic growth strategies. This paper investigates the impact of green investment funds on product innovation, entry obstacles, environmental consciousness and the success of green entrepreneurs. To the best of the author’s knowledge, this study is one of the limited numbers that models these features, enhancing the precision of green project success information.