Towards Net Zero Emissions: The Impact of Green Innovation, GHG and CSR on the Financial Success of U.S. Corporate Venture Capital Parents

Fatima Shuwaikh

The Energy Journal, 2024, vol. 45, issue 1_suppl, 261-294

Abstract: This paper analyzs the influence of green innovation and environmental performance on the success of US corporate venture capital (CVC) parent firms. Furthermore, it investigates the intermediary function of corporate social responsibility (CSR) in this relation. Our sample consists of CVC parent firms obtained from multiple databases between 2002 to 2019. Our findings suggest that incorporating sustainability into target company plans has the dual benefit of improving environmental outcomes and boosting long-term financial performance for CVC parent firms. We find that companies that have lower levels of greenhouse gas (GHG) emissions demonstrate better financial success over the long term. Moreover, allocating resources to environmentally-friendly advancements results in positive financial results in both the short and long term. Our findings have important significance for policymakers and practitioners, providing guidance for the creation of sustainable business strategies. By promoting innovation focused on sustainability and decreasing GHG emissions, CVC parent firms may actively contribute to a more sustainable future while also assuring long-term financial success.

Keywords: Corporate Venture Capital; Corporate Social Responsibility; Greenhouse gas emissions; Green Innovation; Financial Performance (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:45:y:2024:i:1_suppl:p:261-294

DOI: 10.5547/01956574.45.SI1.fsha

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