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SMEs and carbon neutrality in ASEAN: the need to revisit sustainability policies

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  • Naoyuki Yoshino
  • Ehsan Rasoulinezhad
  • Han Phoumin
  • Farhad Taghizadeh-Hesary

Abstract

Most rules and regulations for protecting the environment and reducing greenhouse gas emissions target large enterprises. Although small and medium-sized enterprises (SMEs) have major shares in most Asian economies, they remain outside the purview of most environmental rules and regulations. The primary purpose of this study is to assess the association between SMEs’ activities and carbon emissions in the Association of Southeast Asian Nations (ASEAN) countries from 2010 to 2020. To this end, a fully modified ordinary least squares (FMOLS) model was developed. The results show that SMEs’ activities do not align with environmental protection goals and sustainable development, as the estimation results revealed their significant contributions to CO2 emissions. Other practical implications of this study for carbon-neutral SMEs are introducing green finance policies, revisiting the environmental and carbon reduction rules and regulations that cover SMEs, and changing banks’ lending mechanisms based on SMEs’ green economic performance.

Suggested Citation

  • Naoyuki Yoshino & Ehsan Rasoulinezhad & Han Phoumin & Farhad Taghizadeh-Hesary, 2023. "SMEs and carbon neutrality in ASEAN: the need to revisit sustainability policies," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 36(2), pages 2177180-217, December.
    • Handle: RePEc:taf:reroxx:v:36:y:2023:i:2:p:2177180
    DOI: 10.1080/1331677X.2023.2177180
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    Cited by:

    1. Wei, Jiping & Zhou, Jing & Cheng, Zhangfan, 2023. "Role of E-marketing of mineral products in achieving sustainability," Resources Policy, Elsevier, vol. 86(PA).
    2. Cheng, Xuanmei & Chen, Kanxiang & Su, Yuxin, 2023. "Green innovation in oil and gas exploration and production for meeting the sustainability goals," Resources Policy, Elsevier, vol. 87(PA).
    3. Peng, Shuyue & Jia, Ruoya & Wang, Qianrong & Li, Tongxin & Zhang, Congcong, 2023. "Role of city sustainability in utilizing the natural resources," Resources Policy, Elsevier, vol. 86(PB).
    4. Xu, Yuecheng & Shang, Yunfeng, 2023. "Emission taxation and sustainability in the mineral resources industry," Resources Policy, Elsevier, vol. 86(PB).
    5. Sun, Li & Li, Xiangyu & Wang, Yiting, 2024. "Digital trade growth and mineral resources In developing countries: Implications for green recovery," Resources Policy, Elsevier, vol. 88(C).
    6. Liu, Yiou & Yu, Yang & Huang, Yingfei & Guan, Weimin, 2024. "Utilizing the resources efficiency: Evidence from the impacts of media industry and digitalization," Resources Policy, Elsevier, vol. 88(C).
    7. Zhou, Hailing & Liu, Ji, 2023. "Digitalization of the economy and resource efficiency for meeting the ESG goals," Resources Policy, Elsevier, vol. 86(PA).
    8. Zhang, Ming & Li, Xiaoyan & Pai, Chih-Hung & Ding, Huanhuan & Zhang, Xuan, 2023. "Green credit and fossil fuel resource efficiency: Advancing sustainability in Asia," Resources Policy, Elsevier, vol. 86(PB).
    9. Li, Liang & Chen, Yifu, 2023. "Intellectual property's role in achieving carbon neutrality through resource efficiency," Resources Policy, Elsevier, vol. 86(PB).
    10. Yiping Zheng & Qinyu Xu & Qianrong Wang, 2024. "How is energy transition shaping a path to common prosperity and sustainable economic growth?," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-16, April.
    11. Yanyan, Fu & Dong, Xitao, 2024. "Exploring the influence of internal and external conflicts on the resource curse hypothesis in OECD countries," Resources Policy, Elsevier, vol. 88(C).
    12. Han, Dongmei & Teng, Fangfei & Jia, Ruoya, 2023. "Achieving the goal of net-zero requires both resource efficiency and efficient business management," Resources Policy, Elsevier, vol. 86(PA).
    13. Xiangyu Du & Wuyang Xie & Weimin Guan, 2024. "Energy transition in sport and public facilities: pioneering sustainable economic pathways," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-16, April.

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