Abstract
Investments in renewable energy sources are an important direction in the development of modern economies. Motivating organizations to include appropriate investments in their development strategies becomes an essential issue. It seems clear that organizations need to see the long-term benefits of such investments in order to follow this trend. This article presents a thesis that assumes that from the microeconomic perspective, such investments are conducive to the implementation of various goals of the organization, causing the phenomenon of resonance in spheres such as the implementation of the sustainable development strategy, the level of innovation in the organization, brand image, and brand equity. The survey method was carried out on a sample of 143 industrial companies in the food industry in order to verify the hypotheses based on previous examples. Among the most important findings, it should be noted that investments in renewable energy sources make a significant contribution to building the market position of enterprises, in particular, to the level of innovation, creating value in a sustainable enterprise, and achieving goals in the area of creating a positive brand image and brand equity. The findings show that investing in renewable energy is compatible with the organization’s different goals.
Highlights
In September 2015, the UN General assembly adopted the Sustainable Development Goals (SDGs), which contain 17 goals, including ending poverty and hunger, ensuring access to sustainable energy, promoting sustainable industrialization, supporting innovation, counteracting climate change, and creating sustainable consumption patterns [1]
The remainder of this paper consists of the following sections: In Section 2, we review the existing evidence on the effects of investments in renewable energy sources on achieving the goals formulated in the areas of sustainable development, innovation, and brand equity
The study results presented in this paper confirm that the level of investment in renewable energy is important for both creating value in sustainable organizations, understood as achieving environmental, social, and economic goals, as well as for building a brand image and brand equity
Summary
In September 2015, the UN General assembly adopted the Sustainable Development Goals (SDGs), which contain 17 goals, including ending poverty and hunger, ensuring access to sustainable energy, promoting sustainable industrialization, supporting innovation, counteracting climate change, and creating sustainable consumption patterns [1]. Increasing investments in renewable energy sources (RES) can contribute to these goals. Any effort to achieve the sustainable development goals will generate demand for renewable energy (RE). The EU considers achieving sustainable development through the use of renewable energy as a way to mitigate the negative effects of climate change and to generate direct and indirect economic benefits [5]. Various studies have identified drivers facilitating green technology investments, such as environmental commitment, customer pressure, and cost savings [6,7,8,9]. Some study results imply [10] that as far as investing in green technologies is concerned, Energies 2020, 13, 4285; doi:10.3390/en13174285 www.mdpi.com/journal/energies
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