The Governance Edge: Unlocking Renewable Energy Potential Through Board Leadership

Mujtaba Momin (), Ariz Naqvi () and Suzan Dsouza ()
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Mujtaba Momin: College of Business Administration, American University of the Middle East, Kuwait
Ariz Naqvi: College of Business Administration, American University of the Middle East, Kuwait
Suzan Dsouza: College of Business Administration, American University of the Middle East, Kuwait

International Journal of Energy Economics and Policy, 2025, vol. 15, issue 4, 235-247

Abstract: The present study triangulates board gender diversity and board expertise with the use of renewable energy sources. The study reveals the association between these three variables, under the regimentation of control variables. The investigation, using a final dataset of 1892 firms from the European Union, deciphers their association to be influential in renewable energy use, to the extent of a statistically significant relationship. The decadal dataset between 2013 and 2023, sourced from the Refinitiv (Datastream) database, is processed using the STATA software package. The study magnifies the positive influence that board gender diversity has on renewable energy adoption, indicating that a higher proportion of female directors contributes to improved environmental performance and strategic commitment to sustainable energy practices. Simultaneously, board-specific skills are examined to assess their contingent effect on renewable energy investments. Findings suggest that while gender-diverse boards stimulate innovation and sustainability initiatives, an overemphasis on conventional expertise may foster a risk-averse approach, limiting renewable energy projects. This study is one of the few investigations contributing to the literature in this area, paving the way for future research to explore the interplay between corporate governance, board composition, and the transition toward a low-carbon economy, thus enhancing long-term sustainable global development.

Keywords: Board Gender Diversity; Board Expertise; Renewable Energy Use; Corporate Governance; European Union (search for similar items in EconPapers)
Date: 2025
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DOI: 10.32479/ijeep.19451

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