Unlocking the link between low emission supply chains, blockchain adoption, and financial success: The payoff of socially responsible practices in supply chains

Abstract

AbstractThe adoption of environmentally and socially responsible practices, particularly in the form of low‐emission supply chain management (LESCM), has become increasingly vital for businesses globally. Renewable energy‐oriented LESCM practices are effective tools for proactive and leading manufacturing organizations, making them socially and environmentally responsible enterprises. In this context, our research focuses on understanding how LESCM implementation by companies may indirectly impact firms' financial success, through facilitating the adoption of blockchain technology (BT). Furthermore, we investigated the impact of the adoption of BT on reducing business operating costs and improving the business's environmental performance. To answer these research questions, we have used survey data from 189 Bangladeshi manufacturing firms, a developing country facing unique challenges and opportunities in the realm of sustainable business practices. Through rigorous analysis and robust statistical methods, we substantiate our hypotheses, shedding light on the positive associations between LESCM practices, BT adoption, financial performance, cost reduction, and environmental sustainability.