Economic growth, environmental sustainability, and human needs: A firm-level analysis

Analysis of solution strategies for the transition to renewable energy in Saudi Arabia

Purpose: This paper explores the intricate relationship between renewable energy adoption and economic development in the United Arab Emirates (UAE), highlighting how increased utilization of renewable resources correlates with various economic indicators. Design/Methodology/ Approach: This paper examines a number of important factors using a large dataset covering the years 2000–2022, including GDP per capita growth, energy consumption, research and development spending, renewable energy capacity, investment in renewable energy, total greenhouse gas emissions, job creation, public awareness of renewable energy, and foreign direct investment (FDI). The study offers a detailed examination of the ways in which the UAE's adoption of renewable energy affects economic growth, energy security, and environmental sustainability, taking into account positively skewed distributions through the use of a log-log model. Findings: According to the findings, the UAE's planned transition to a greener economy is supported by the substantial economic benefits that expanded renewable energy capacity is linked to, including the creation of jobs, higher foreign investment, and lower greenhouse gas emissions. Conclusion: In addition to advancing knowledge of the financial effects of renewable energy, the article supports the UAE's 2050 energy diversification plan and international sustainability objectives. Research Limitations/Implications: The study's use of national-level data may cause it to ignore regional or sector-specific factors. Although relationships are found, it does not demonstrate that GDP growth is directly influenced by renewable energy. The results are unique to the UAE, which limits their generalisability to other nations, and the linear regression model might overlook intricate interactions. Important elements like the state of the world economy and geopolitics are not taken into account. Practical strategies: These obstacles can be addressed and a more favourable climate for renewable energy projects can be created with the use of doable tactics like offering subsidies, tax breaks, and advantageous regulatory frameworks. Contribution to literature: By examining the financial effects of renewable energy adoption in the United Arab Emirates and emphasising its role in both sustainability and economic growth, this study contributes significant insights to the body of knowledge. It adds to the larger conversation about striking a balance between environmental objectives and economic development by highlighting the significance of public awareness and policy in promoting the use of renewable energy.

The manuscript tests the interconnected links between electricity consumption (EC), fossil fuel (FF) use, renewable energy (RE) adoption, foreign direct investment (FDI), population growth (PG), gross domestic product (GDP), and environmental pollution (EP) in Korea. Using time series data from 1990 to 2023, we employ vector autoregression (VAR) and Granger causality tests (GCT) to analyze the dynamic interactions among these parameters. Our findings indicate significant bidirectional causality between GDP and EC, unidirectional causality from FFC to EP, and a notable impact of RE adoption on reducing pollution levels. The fresh findings underscore the necessity of integrated policy recommendations that balance economic growth (EG) with sustainable energy practices to mitigate environmental degradation. The manuscript provides valuable insights for policymakers aiming to harmonize economic development (ED) with environmental sustainability (ES) in Korea. The new findings underscore the necessity of integrated policy approaches that balance EG with sustainable energy practices to mitigate environmental degradation.

This study investigates the dynamics between energy use, trade openness, industrialization, technological innovation, and population density in shaping environmental sustainability in Saudi Arabia and Tunisia. Employing the Autoregressive Distributed Lag (ARDL) model, the research evaluates short- and long-term relationships using data from 1990 to 2022. Key findings reveal that Saudi Arabia's CO2 emissions are predominantly influenced by energy use and trade openness, underscoring the challenges of its fossil-fuel-reliant economy. Conversely, Tunisia demonstrates a faster adjustment to long-term equilibrium, with industrial modernization and trade-related factors reducing emissions. Population density impacts environmental outcomes differently across the two countries, reflecting the influence of urban planning and energy efficiency. These results emphasize the need for tailored sustainability policies, with Saudi Arabia focusing on renewable energy adoption and industrial policy reform, and Tunisia enhancing trade regulations and energy efficiency. This study fills a critical gap in comparative sustainability research in the MENA region by applying a cross-country ARDL model to assess the joint effects of trade, industrialization, technology, energy use, and population dynamics. By contrasting Saudi Arabia’s fossil-fuel dependency with Tunisia’s diversified economy, it highlights structural asymmetries in environmental outcomes and offers targeted policy insights for resource-diverse nations.

Purpose In the niche of growing concerns about ensuring environmental sustainability, it is necessary to explore such strategies that enhance climate resilience (CMR). In this wake, this study aims to disclose the potential impacts of renewable energy adoption (REA) and forest area conservation (FRA) on CMR. Specifically, this study analyzes how both REA and FRA impact the climate vulnerability (CVN) situation in a country. Design/methodology/approach The empirical analysis was settled on South Asian economies throughout 1999–2023. This study uses the cross-sectional autoregressive distributed lag model as a primary estimation technique and checks the robustness through the fully modified ordinary least squares model. Findings The findings infer that both REA and CMR negatively (positively) affect CVN (CMR), thereby enhancing environmental sustainability. More reliance on renewable energy and exploration of forests significantly reduces carbon emissions and enhances the availability of fresh air. Moreover, the forest area absorbs carbon emissions, thereby enhancing the quality of air. These findings remain consistent even after including the control variables and using the alternative estimation technique. Practical implications The findings advocate important policy suggestions regarding the focus on the adoption of renewable energy as fuel inputs and enhancing the area of forests. Originality/value This study offers novel evidence by considering both REA and FRA in a single setting of study.

This study investigates the dynamics between energy consumption, trade openness, industrialization, technological innovation, and population density in shaping environmental sustainability in Saudi Arabia and Tunisia. Employing the Autoregressive Distributed Lag (ARDL) model, the research evaluates short- and long-term relationships using data from 1991 to 2023. Key findings reveal that Saudi Arabia's CO2 emissions are predominantly influenced by energy use and trade openness, underscoring the challenges of its fossil-fuel-reliant economy. Conversely, Tunisia demonstrates a faster adjustment to long-term equilibrium, with industrial modernization and trade-related factors reducing emissions. Population density impacts environmental outcomes differently across the two countries, reflecting the influence of urban planning and energy efficiency. These results emphasize the need for tailored sustainability policies, with Saudi Arabia focusing on renewable energy adoption and industrial policy reform, and Tunisia enhancing trade regulations and energy efficiency. The study contributes to the comparative literature on sustainability, providing valuable insights for policymakers and researchers aiming to balance economic growth with environmental preservation in resource-diverse economies.

This study embarks on an exploratory journey to elucidate the complex interplay between workforce development and environmental sustainability within the transport sector. It underscores the critical importance of nurturing a skilled workforce capable of propelling the sector towards sustainable practices, thereby addressing pressing environmental challenges. To achieve a comprehensive understanding, this review synthesizes a wide array of data sources, adopting a strategic framework for literature search and analysis. The methodology hinges on stringent criteria for literature selection, ensuring the relevance and quality of the information reviewed. Central to the study is the development of a theoretical framework that situates workforce development within the paradigm of sustainable transport. This includes an examination of the architectural underpinnings of sustainable transport systems, the potential for modal shifts to lessen environmental impacts, and the pivotal role of technological and methodological advancements. Moreover, the review highlights innovative practices in workforce training and development that are crucial for meeting future demands. The in-depth analysis sheds light on the multifaceted impacts of workforce development initiatives on achieving sustainable transport objectives, emphasizing the economic, social, and environmental dimensions. It identifies existing gaps in workforce competencies and outlines strategies for skill enhancement. Additionally, the study emphasizes the indispensable role of policy, standards, and stakeholder collaboration in fostering sustainable transport. Conclusively, the study presents strategic recommendations for policymakers, educators, and industry leaders, charting a course for a resilient and sustainable transport workforce. It posits that an integrative approach, marrying workforce development with environmental sustainability, is essential for navigating the future challenges and opportunities within the transport sector.

The need to prioritize sustainable development is expanding in light of the world's environmental concerns. To address these concerns, entrepreneurship is essential as a catalyst for inventions, economic expansion, and social change. Entrepreneurship activities have direct and indirect effects in the face of environmental risks and uncertainties. This study addresses gaps in understanding entrepreneurship's non-linear and complementarity effects, particularly opportunity-driven entrepreneurship and information and communication technologies (ICT), on the quality of the environment in Saudi Arabia. The dynamic ordinary least squares (DOLS) method is used to estimate long-run relationships. Saudi Arabia will be the perfect context for sustainability because the country has prioritized sustainability through its Vision 2030, and the Saudi government has substantially supported entrepreneurship. The main contribution of this paper to the existing literature is evident in its examination of the quadratic relationships between both opportunity-driven entrepreneurship and ICT diffusion, including ICT access, use, and skills, on environmental quality. In addition, the study delves into the ICT diffusion's modulating effects on the nexus of opportunity entrepreneurship with environmental quality, providing insights into how these factors can effectively improve environmental quality. The findings show that opportunity entrepreneurship and ICT diffusion initially deteriorate environmental quality before leading to improvements as their levels mature in the economy. Moreover, interactions between ICT proxies and opportunity entrepreneurship yield mixed effects, with negative net effects on CO2 emissions and ecological footprint countered by positive net effects on the environmental performance index. These findings highlight the dual role of ICT diffusion as a contributor to environmental challenges and a potential solution, depending on the level of its diffusion and interaction with entrepreneurial activities. Therefore, policymakers should create plans that encourage and direct business activity toward more environmentally friendly methods. They should also consider the short- and long-term effects of growing digital technologies on environmental sustainability and how they might revolutionize how entrepreneurship and sustainability goals are aligned.

Purpose: The general purpose of this study was to investigate the role of actuaries in Sustainable Development Goals.
 Methodology: The study adopted a desktop research methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library.
 Findings: The findings reveal that there exists a contextual and methodological gap relating to the role of actuaries in Sustainable Development Goals. The study underscored the indispensable role of actuaries in advancing sustainable development goals (SDGs) across multiple sectors. Actuaries contribute significantly to promoting environmental sustainability by assessing and managing risks associated with climate change, while also fostering social equity and inclusivity through the design of insurance and pension schemes. Moreover, they facilitate long-term investment and infrastructure development aligned with SDGs 8 and 9, and support health and well-being initiatives, particularly in healthcare financing and risk assessment. Overall, through their expertise in risk assessment, financial management, and strategic decision-making, actuaries play a critical role in driving transformative change towards a more sustainable, inclusive, and resilient future.
 Unique Contribution to Theory, Practice and Policy: The Stakeholder theory, Institutional theory and Systems theory may be used to anchor future studies on the role of actuaries in Sustainable Development Goals. The study provided recommendations aimed at enhancing the contributions of actuaries to sustainable development agendas. It advocated for increased awareness among actuaries about their role in supporting SDGs, fostering collaboration between stakeholders, integrating sustainability considerations into actuarial practices, and promoting transparency and accountability within the profession. These recommendations emphasized the importance of aligning actuarial efforts with sustainability goals, leveraging collective expertise, and ensuring ethical and responsible decision-making. By implementing these recommendations, actuaries could play a more proactive and impactful role in advancing sustainable development goals and addressing societal challenges.
 Keywords: Actuaries, Sustainable Development Goals, Contributions, Recommendations, Awareness, Collaboration, Sustainability Considerations, Transparency

Background: Effective medication management, disposal, and donation are vital for public health and environmental sustainability. Improper handling of medications can lead to drug misuse, accidental poisoning, and environmental damage. This study examines current practices and challenges in Saudi Arabia, identifying opportunities for improvement. Method: A cross-sectional survey conducted in October and November 2023 targeted the general population in Saudi Arabia. This study employed convenience sampling to explore medication usage, storage, disposal practices, and awareness of donation procedures. Data were analyzed through both descriptive and inferential statistical methods. Results: This study involved 430 respondents. Of these, 73.0% held a university degree, yet 66.3% were unaware of drug donation programs, and 84.2% lacked knowledge about proper medication disposal. Despite this, 71.4% believed that drug donation programs positively impact healthcare, and 87.9% saw them as reducing drug waste and environmental pollution. However, 48.1% expressed concerns about the potential misuse of donated medicines. Awareness and knowledge were significantly higher among participants aged 30 and above. Conclusions: The findings highlight the need for enhanced public awareness, clear medication disposal guidelines, and ethically governed donation practices in Saudi Arabia. These measures can improve healthcare outcomes, protect the environment, and support global health and sustainability goals.

This study examines how information technology (IT) contributes to sustainability endeavours in Saudi Arabia. The process of equipping companies to effectively leverage information technology for sustainability initiatives has remained a challenge, particularly in Saudi Arabia. Through an analysis of four case studies, we examine how technology has been implemented by Saudi Arabian companies to advance sustainability goals. The findings demonstrate a notable shift towards green initiatives in the country, with the adoption of technologies such as the Internet of Things (IoT), blockchain, and artificial intelligence (AI). These technologies have been instrumental in enhancing energy efficiency and waste reduction. The study highlights the significance of policy interventions and public–private partnerships in achieving both environmental sustainability and economic growth. To ensure the widespread adoption of sustainable practices, it is crucial for the government to focus on building digital capacity in companies and removing technological barriers. The case studies of four companies serve as illustrative examples of sustainable practices and the corresponding technological support in Saudi Arabia. The research underscores the importance of leveraging IT and collaboration to accelerate progress toward the nation’s sustainability goals.

The Energy Performance of Buildings Directive (EPBD) is a critical EU policy aimed at increasing energy efficiency in buildings to reach climate neutrality by 2050. This directive sets nearly-zero energy standards for new constructions, encourages efficient renovations, and enforces the use of Energy Performance Certificates (EPCs) for transparency on energy usage. Through the integration of renewable energy and systematic monitoring, the EPBD aims to reduce both energy expenses and greenhouse gas emissions across the EU. For Azerbaijan, which aims to enhance energy security and reduce fossil fuel reliance, adopting EPBD principles presents an opportunity to boost the energy efficiency of its buildings. Yet, successful implementation will require an approach that considers Azerbaijan’s distinct climate, infrastructure, and economic context. This could include prioritizing energy-efficient design for new buildings, updating existing structures to improve efficiency, and introducing an EPC system to monitor energy consumption and encourage property upgrades. Azerbaijan could also benefit from awareness campaigns on energy-saving practices and financial incentives, like grants or tax breaks, to support energy-efficient renovations and renewable energy adoption in the building sector. Solar and wind energy integration, for instance, would reduce pressure on conventional energy sources while advancing the country’s energy security and sustainability goals. By adapting EPBD-aligned policies, Azerbaijan could achieve significant energy savings, lessen environmental impacts, and advance its climate goals. These improvements would contribute to Azerbaijan’s sustainable development strategy and align its practices with global standards on climate action. Through tailored building standards and energy-efficient practices, Azerbaijan has the potential to create a more sustainable future, reinforcing its commitment to reducing environmental impacts and supporting long-term energy resilience. This approach not only strengthens Azerbaijan’s national objectives but also aligns with broader global efforts toward environmental responsibility and climate adaptation. Keywords: Energy Performance of Buildings Directive, Environmental sustainability, Building sector renovation, Energy Performance Certificates, Greenhouse gas emissions

This study investigates the impact of financial, trade, and economic openness on energy consumption, focusing on renewable, nonrenewable, and fossil energy sources in Belt and Road Initiative (BRI) nations. The BRI framework, introduced by China in 2013, emphasizes economic collaboration and infrastructure development, including renewable energy projects. As participating nations navigate energy transitions to address climate change and achieve sustainable development, understanding the role of openness is crucial. Motivated by the dual challenges of energy security and environmental sustainability, this study explores how openness influences energy consumption patterns and identifies pathways for policy intervention. Using data from 2004 to 2020, the study employs advanced econometric techniques, including Cross-Sectionally Augmented Autoregressive Distributed Lag (CS-ARDL) and Nonlinear ARDL models, to examine short- and long-term relationships. Control variables such as urbanization, financial development, and education are integrated to provide a comprehensive understanding of the dynamics. The analysis reveals that financial openness positively impacts energy consumption across all types, with a significant contribution to renewable energy in the long term. Trade openness facilitates technology transfer and renewable energy adoption, while economic openness through foreign direct investment (FDI) supports clean energy projects but also sustains fossil fuel reliance in some contexts. Urbanization drives nonrenewable energy demand but offers opportunities for renewable integration contingent on governance quality. Education enhances renewable energy consumption by fostering a skilled workforce and knowledge development. The findings suggest key policy implications. First, financial openness should be directed toward green finance and renewable energy investments. Second, trade policies must focus on reducing barriers to renewable technology imports and fostering global collaborations. Third, economic openness should prioritize sustainable FDI in clean energy sectors. Fourth, urban planning must incorporate decentralized energy systems and green technologies. Finally, investing in education and institutional reforms is essential to drive innovation and ensure effective governance. This study contributes to the discourse on energy transitions in BRI nations, emphasizing the critical role of openness and offering actionable policies to balance economic growth with sustainability.

This study examined the impact of renewable energy adoption and organizational culture on employee productivity in Jordanian technology and IT companies, with workplace sustainability as a mediating factor. The research targeted employees in the Jordanian technology and IT sector, with a sample size of 454 participants. A quantitative, cross-sectional survey design was employed, utilizing a structured questionnaire. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results revealed significant positive relationships between renewable energy adoption, organizational culture, workplace sustainability, and employee productivity. Both renewable energy adoption and organizational culture demonstrated direct positive effects on employee productivity, as well as indirect effects through workplace sustainability. These findings have important implications for managers and policymakers, highlighting the potential for organizations to enhance employee productivity through sustainable practices and cultural initiatives. The study contributes to the literature by integrating concepts from Stakeholder Theory and Resource-Based View Theory to explain the complex relationships between sustainability initiatives and organizational outcomes in the context of Jordanian technology and IT companies.

Sustaining the environment is essential for Saudi Arabia, especially given the country’s high dependence on oil rents. While these rents have historically fueled economic growth, they have also contributed significantly to environmental degradation. Sustainable resource use and a transition from conventional to renewable energy sources are essential for achieving carbon neutrality and keeping the upsurge in global temperature below 2°C. In addition, sustainable practices help to preserve ecosystems, biodiversity, and natural resources, which are essential for the survival of all living organisms. Consequently, this study fills a significant empirical gap by investigating the moderating effects of technological innovation, environmental innovation, and green energy technologies in the oil rents and environmental sustainability nexus in Saudi Arabia from 1990 to 2022. Although there are significant direct associations between oil rents and environmental sustainability, the existing literature has not investigated empirical research on the moderating effects of technological innovation, environmental innovation, and green energy technologies in the oil rents and environmental sustainability nexus. To do this, the study implements the model of dynamic AutoRegressive Distributed Lag (ARDL) simulations. The results indicate that rising oil rents, economic growth, trade, and urbanization in Saudi Arabia worsen environmental sustainability while increasing green energy technologies, technological innovation, and environmental innovation enhances environmental sustainability. Interestingly, the findings of the moderating effects of technological innovation, environmental innovation, and green energy technologies in the oil rents and environmental sustainability nexus show that the predicted coefficients of the multiplicative interaction terms are both positive and statistically significant. This demonstrates that these technologies play crucial roles in mitigating the negative effects of oil rents on environmental sustainability in Saudi Arabia. Based on the outcomes, promoting technological innovation, prioritizing investments in green sources and reducing dependence on natural resource extraction are key policy recommendations that can significantly bolster environmental sustainability in Saudi Arabia.