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Towards sustainable environment: Unleashing the mechanism between green finance and corporate social responsibility

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  • Xuesen Cai
  • Xiaowei Song

Abstract

Environmental and socio-economic activities are vital to achieving sustainable growth. Corporate social responsibility (CSR) originated to achieve social equilibrium via the sustainable performance of organizations. Nevertheless, corporations require ample resources to cope with the concepts of CSR and sustainability. Accordingly, the present research analyses the function of green financing, which encompasses the economic, social, and environmental practices for accomplishing and developing CSR goals in the automobile industry. Using questionnaire survey and structural equation modelling, this study's data supports the contribution of green finance and its associated practices (economic ( β  = 0.248***, 0.239**, 0.312***, 0.125**, 0.549***), social ( β  = 0.343***, 0.147**, 0.458***, 0.593***, 0.257***), and environmental practices ( β  = 0.487***, 0.164**, 0.238**, 0.043*, 0.126**)) to the enhancement of CSR's implications. Research findings suggest that organizations should devote more monetary resources to enhancing CSR traits. Future research directions are also discussed at the end of study.

Suggested Citation

  • Xuesen Cai & Xiaowei Song, 2024. "Towards sustainable environment: Unleashing the mechanism between green finance and corporate social responsibility," Energy & Environment, , vol. 35(2), pages 986-1003, March.
    • Handle: RePEc:sae:engenv:v:35:y:2024:i:2:p:986-1003
    DOI: 10.1177/0958305X221133258
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