The color of money: green business practices in a transition economy

Elona Pojani, Perseta Grabova, Egis Zaimaj and Dorina Pojani

Journal of Risk Research, 2025, vol. 28, issue 3-4, 347-365

Abstract: Despite Albania’s status as an official EU candidate country since 2014, progress in adopting the new paradigm of ‘sustainable entrepreneurship’ has been sluggish. This study surveys nearly 500 companies, primarily in Tirana, to examine the adoption of green business practices. Findings reveal low adoption rates, coupled with limited awareness and knowledge of the importance of sustainability. Among implemented green measures, minor environmental interventions, energy consumption assessments (driven by cost considerations), and pollution reduction initiatives are the most common. A linear probability model shows that companies with dedicated plans and budgets for sustainability are more likely to adopt green practices. Other influential factors include company size and perceptions of climate change and environmental issues. Larger corporations, with greater resources and capacity, are more active in green initiatives compared to micro, small, and medium-sized enterprises. However, the effect of these variables remains modest, highlighting the need for robust government oversight and intervention, as companies often struggle with self-regulation and monitoring.

Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/13669877.2025.2485035 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:jriskr:v:28:y:2025:i:3-4:p:347-365

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RJRR20

DOI: 10.1080/13669877.2025.2485035

Access Statistics for this article

Journal of Risk Research is currently edited by Bryan MacGregor

More articles in Journal of Risk Research from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().