Shaping a sustainable future: The impact of board gender diversity on clean energy use and the moderating role of <scp>environmental, social and governance</scp> controversies

Issa, Ayman

doi:10.1002/csr.2512

Cited by 39 publications

(28 citation statements)

References 71 publications

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“…Risk aversion is another angle that can be used to explain the role of female directors in decision-making, particularly in the context of ESG (Issa, 2023). Research has suggested that women may be more risk-averse than men in certain contexts (Boulouta, 2013), which could lead them to be more cautious and vigilant when it comes to potential environmental and social risks associated with corporate decision-making (McGuinness et al, 2017).…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Breaking the glass ceiling for a sustainable future: the power of women on corporate boards in reducing ESG controversies

Issa

Hanaysha

2023

IJAIM

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Purpose This study aims to investigate the relationship between board gender diversity and environmental, social and governance (ESG) controversies and to determine if a critical mass of female directors has a significant impact on ESG performance. Design/methodology/approach The study analyzes a sample of non-financial companies from 13 European countries between 2004 and 2021. The primary method used to reach conclusions was the pooled ordinary least squares regression. Additionally, the study used supplementary techniques such as alternative measurement, sub-sample analysis and two-stage least squares to enhance its reliability. Findings The results indicate that a higher representation of women on boards is correlated with a reduction in the number of ESG controversies, particularly when there are three or more female directors. Furthermore, the relationship between board gender diversity and ESG controversies may be affected by factors such as industry, governance and a company’s environmental performance. Practical implications This study suggests that increasing women’s representation on boards may mitigate ESG controversies and improve firm reputation and performance, especially in industries with high ESG risks. Policymakers can support this through policies, targets, training and inclusive practices. The findings also inform investors and stakeholders of the relationship between board gender diversity and ESG controversies. Originality/value This study expands the understanding of the relationship between board gender diversity and sustainable accounting and finance. It focuses on the effect that having female board members has on corporate policies, which is significant for shaping global policies that promote diversity on boards.

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Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Breaking the glass ceiling for a sustainable future: the power of women on corporate boards in reducing ESG controversies

Issa

Hanaysha

2023

IJAIM

Self Cite

View full text Add to dashboard Cite

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“…In the context of environmental initiatives and carbon performance, gender diversity can play a significant role in influencing organizational strategies and actions (Konadu et al , 2022). Studies have shown that diverse leadership teams are more likely to prioritize environmental, social and governance (ESG) practices, including environmental sustainability (Issa, 2023). Furthermore, gender-diverse boards and executive teams may approach sustainability challenges differently, taking into account diverse stakeholder interests and adopting a long-term perspective on sustainability issues (Eliwa et al , 2023; Shakil, 2021).…”

Section: Introductionmentioning

confidence: 99%

From words to action: unpacking the real impact of sustainability initiatives on carbon emissions reduction

Issa,

In'airat

2023

SRJ

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Purpose The purpose of this study is to analyze the correlation between a company’s efforts to reduce carbon emissions and its actual carbon performance. Additionally, the study investigates how female decision-makers may influence this relationship as moderators. Design/methodology/approach This study uses a data set consisting of 1,258 observations from companies listed on the STOXX Europe 600 index between 2009 and 2021. The study applies the ordinary least squares technique to investigate the connection between carbon reduction initiatives and actual carbon performance, taking into account the potential impact of board and executive gender diversity. To ensure the reliability of the findings, subsample analysis and a two-step generalized method of moments technique were used. Findings The results show a significant negative association between a firm’s commitment to environmental initiatives and its carbon emission intensity. Furthermore, the study explores the moderating effect of board and executive gender diversity on this relationship and finds that gender diversity has a significant negative impact on the relationship between emissions reduction initiatives and carbon emissions. Practical implications The study has practical implications for corporate sustainability efforts. It highlights the importance of implementing carbon reduction initiatives to effectively mitigate carbon emissions. This emphasizes the need for sustainable business strategies that prioritize environmental initiatives. Additionally, the study underscores the positive impact of gender diversity in leadership positions on carbon reduction efforts. Policymakers and organizations can leverage these findings to promote gender diversity and enhance sustainability practices. Social implications It provides evidence-based insights for policymakers to develop specific policies and action plans in priority areas such as climate change and emissions reduction. It also highlights the positive influence of gender diversity in corporate leadership on environmental initiatives, promoting inclusivity and equality in sustainability practices. Originality/value This study brings originality by investigating the direct impact of a company’s carbon reduction initiatives on its carbon performance. It also explores the moderating effect of board and executive gender diversity on this relationship. The study provides evidence-based insights for policymakers and applies neo-institutional theory to analyze the interplay between carbon reduction initiatives, carbon emissions and gender diversity in executive and board positions.

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“…The impact of climate change, a result of the release of excessive amounts of carbon dioxide into the atmosphere from the burning of fossil fuels, has become a pressing concern for society as a whole (Issa, 2023). The rapid emission of CO2 has caused temperatures to rise, leading to far-reaching consequences such as melting glaciers, rising sea levels and more frequent natural disasters.…”

Section: Introductionmentioning

confidence: 99%

Powering profits: how renewable energy boosts financial performance in European non-financial companies

Issa

Hanaysha

2023

IJAIM

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Purpose The study aims to investigate the relationship between renewable energy use and financial performance in non-financial companies in European countries. Design/methodology/approach This study examines a panel data set consisting of 1,919 firm-year observations of non-financial companies operating in 13 European nations, covering the period from 2014 to 2021. The study uses the ordinary least squares (OLS) and the two-stage least squares method (2SLS) as the baseline models and further enhances robustness with sub-sample analysis. Findings The results demonstrate a positive link between renewable energy use and financial performance, and these results hold up across different measurements, sub-sample analysis and model specifications, demonstrating their robustness. Furthermore, the results indicate that some factors such as the industry nature and environmental, social and governance (ESG) controversies have an impact on this positive association. Practical implications The findings are substantial for both policymakers and companies, highlighting the benefits of incorporating renewable energy into their operations for improved business success. Originality/value This study adds to the existing body of literature on the effect of environmental performance on a company’s success by focusing on a novel aspect – the correlation between renewable energy usage and firm performance. It responds to the recent request from researchers to investigate different aspects of sustainability, with a specific emphasis on renewable energy, which is a vital factor in reducing carbon emissions and improving financial performance.

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Shaping a sustainable future: The impact of board gender diversity on clean energy use and the moderating role of environmental, social and governance controversies

Cited by 39 publications

References 71 publications

Breaking the glass ceiling for a sustainable future: the power of women on corporate boards in reducing ESG controversies

Breaking the glass ceiling for a sustainable future: the power of women on corporate boards in reducing ESG controversies

From words to action: unpacking the real impact of sustainability initiatives on carbon emissions reduction

Powering profits: how renewable energy boosts financial performance in European non-financial companies

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