Vinculum of Sustainable Development Goal Practices and Firms’ Financial Performance: A Moderation Role of Green Innovation

Ionic liquid-based dispersive liquid-liquid microextraction of succinic acid from aqueous streams: COSMO-RS screening and experimental verification

In the present investigation, a total of 108 combinations of ionic liquids (ILs) were screened using the conductor-like screening model for real solvents (COSMO-RS) with the aid of six cations and eighteen anions for the extraction of succinic acid (SA) from aqueous streams through dispersive liquid-liquid microextraction (DLLME). Using the screened ILs, an ionic liquid-based DLLME (IL-DLLME) was developed to extract SA and the role of different reaction parameters in the effectiveness of IL-DLLME approach was investigated. COSMO-RS results suggested that, quaternary ammonium and choline cations form effective IL combinations with [OH¯], [F¯], and [SO42¯] anions due to hydrogen bonding. In view of these results, one of the screened ILs, tetramethylammonium hydroxide [TMAm][OH] was chosen as the extractant in IL-DLLME process and acetonitrile was adopted as the dispersive solvent. The highest SA removal efficiency of 97.8% was achieved using 25 μL of IL [TMAm][OH] as a carrier and 500 μL of acetonitrile as dispersive solvent. The highest amount of SA was extracted with a stir time of 20 min at 300 rpm, followed by centrifugation for 5 min at 4500 rpm. Overall, the findings showed that IL-DLLME is efficient in extracting succinic acid from aqueous environments while adhering to the first-order kinetics.

Is gender diversity is diversity washing or good governance for firm sustainable development goal performance: A scoping review

In Industry 4.0, sustainability is the heart, and governance is the soul of the business, but diversity washing, greenwashing, and SDG washing are skeptical. This is due to the reactive/normative approach in dealing with sustainability and governance, which has created an amounting number of greenhouse gases, waste generation, and several business washing challenges. This study has explored the Scopus and Web of Science databases and searched for the keywords "Sustainable Development Goals" AND "Director," which provided 76 documents. However, when the authors added the third keyword, "ISO 37001-2021," along with the above two keywords, the database provided no study investigating the moderation role of ISO 37001-2021. Therefore, the study advocates the adoption of newly developed ISO 37000:2021 good governance standards for greenwashing, SDG washing, and diversity washing challenges without failing to contribute to the firm sustainable development goal performance and earning management. Secondly, the independent director attribute's role is vital due to the potential, power, position, and evidence to adopt ISO 37000:2021 standards. Thirdly, the scoping review study has proposed a conceptual model to extend the reporting discloser and transparency. It goes beyond mere compliance, contributes towards societal development, and promotes adopting sustainable development goal performance and reporting as a new non-financial parameter for evaluating the firm's performance. Lastly, this will boost firm sustainability and adopt the circular economic model, creating a unique competitive edge and green governance goodwill among the business's external stakeholders and attracting sustainably responsible investors.

Hope-hype of green innovation, corporate governance index, and impact on firm financial performance: a comparative study of Southeast Asian countries

The current production and conception have impacted the environmental hazards. Green innovation (GI) is the ideal solution for sustainable production, consumption, and ecological conservation. The objective of the study is to compare comprehensive green innovation (green product, process, service, and organization) impact on firm financial performance in Malaysia and Indonesia, along with the first study to measure the moderation role of the corporate governance index. This study has addressed the gap by developing the green innovation and corporate governance index. Collected panel data from the top 188 publicly listed firms for 3 years and analyzed it using the general least square method. The empirical evidence demonstrates that the green innovation practice is better in Malaysia, and the outcome also shows that the significance level is higher in Indonesia. This study also provides empirical evidence that board composition has a positive moderation relationship betwixt GI and business performance in Malaysia but is insignificant in Indonesia. This comparative study provides new insights to the policymakers and practitioners of both countries to monitor and manage green innovation practices.

Ionic Liquid-Based Green Emulsion Liquid Membrane for the Extraction of the Poorly Soluble Drug Ibuprofen

Ibuprofen (Ibf) is a biologically active drug (BADs) and an emerging contaminant of concern (CECs) in aqueous streams. Due to its adverse effects upon aquatic organisms and humans, the removal and recovery of Ibf are essential. Usually, conventional solvents are employed for the separation and recovery of ibuprofen. Due to environmental limitations, alternative green extracting agents need to be explored. Ionic liquids (ILs), emerging and greener alternatives, can also serve this purpose. It is essential to explore ILs that are effective for recovering ibuprofen, among millions of ILs. The conductor-like screening model for real solvents (COSMO-RS) is an efficient tool that can be used to screen ILs specifically for ibuprofen extraction. The main objective of this work was to identify the best IL for the extraction of ibuprofen. A total of 152 different cation-anion combinations consisting of eight aromatic and non-aromatic cations and nineteen anions were screened. The evaluation was based upon activity coefficients, capacity, and selectivity values. Furthermore, the effect of alkyl chain length was studied. The results suggest that quaternary ammonium (cation) and sulfate (anion) have better extraction ability for ibuprofen than the other combinations tested. An ionic liquid-based green emulsion liquid membrane (ILGELM) was developed using the selected ionic liquid as the extractant, sunflower oil as the diluent, Span 80 as the surfactant, and NaOH as the stripping agent. Experimental verification was carried out using the ILGELM. The experimental results indicated that the predicted COSMO-RS and the experimental results were in good agreement. The proposed IL-based GELM is highly effective for the removal and recovery of ibuprofen.

A walk of corporate sustainability towards sustainable development: a bibliometric analysis of literature from 2005 to 2021

Recent years have seen a burgeoning interest in the involvement of corporate sustainability (CS) in sustainable development (SD), yet both concepts are fewer and newer in the academic field. This study aims to present a thorough bibliometric analysis that provides fresh new insights on the subject. Using VOSviewer software, this study analyzed and visualized 1214 documents for the period 2005-2021 in the Web of Science (WoS) database. The findings of the study indicate that the co-theme CS and SD are lasting but thriving research subjects. The findings also revealed that authors from the USA published the highest number of articles followed by the UK, Spain, Italy, and Germany. The co-authorship network showed strong links between these countries. Three main clusters are identified based on research titles frequently co-cited and have significant co-citation connections. In general, this study provides valuable insight into the current status and future trends for research on SDGs. The outcome of the study could be useful to policymakers, regulators, sustainability practitioners, and researchers in understanding the key research areas, influential authors, institutions, and countries actively involved in the field. Considering the involvement of corporate sustainability in sustainable development is a useful and informative endeavor for all community actors. To the best of the authors' knowledge, this is the first comprehensive study that presents the holistic picture of CS and SD-related research to identify the knowledge map between the two subjects.

Menthol and Fatty Acid-Based Hydrophobic Deep Eutectic Solvents as Media for Enzyme Activation

This research aims to provide insights into the biological efficacy of a newly formed hydrophobic deep eutectic solvent (DES). A DES based on menthol was successfully synthesized with fatty acids. The DESs’ properties as enzyme activators were examined against a neat counterpart. The menthol:decanoic acid (1:1) combination showed improved thermal stability, strong catalytic activity, and reusability for up to four subsequent cycles under ideal conditions (pH 7.0, 40 °C for 2 h). The hydrophobic DES replaced hexane in ester synthesis, where RNL@DES5 showed better fatty acid conversion compared to neat RNL. This study demonstrated promising applications of hydrophobic DESs in non-aqueous organic reactions.

Assessing the United Nations sustainable development goals from the inclusive wealth perspective

The statement of sustainability in the sustainable development goals (SDGs) framework needs to be supplemented by a formal proof that intergenerational well-being also improves. This is the first study that aims to provide empirical evidence that links the progress of the SDGs and the changes in well-being, which are proxied by the SDG Index and the Inclusive Wealth (IW) Index, respectively. We propose an SDGs-wealth model which was analyzed using a machine learning method involving a balanced panel of 147 countries for 2000-2019. We find a strong correlation between wealth and the SDGs, with Goals 12, 13, and 7 being the most significant predictors of wealth. In contrast to Goals 12 and 13, we find a positive correlation between Goal 7 and the per capita IW Index, suggesting that promoting affordable and clean energy is beneficial for wealth accumulation. Quite the opposite, fostering responsible consumption and production and climate actions might be detrimental to wealth. We also find an alarming result for 50 countries in our study since they have deviated from the sustainable development trajectories either in the short or long run. Our study suggests that to achieve sustainable development, instead of focusing on the complex interactions among the SDGs, policymakers should put a stronger focus on improving IW.

Towards achieving the sustainable development goal 9: Analyzing the role of green innovation culture on market performance of Chinese SMEs

Green innovation culture is essential to the Chinese 14th five-year plan aligned with sustainable development goal 9. This study examines the relationship between green innovation culture and market performance of Chinese small and medium-sized enterprises (SMEs). We evaluated hypothesis by taking a sample of 564 SMEs employees in China through an online survey. The structural equation modelling (SEM) method is used to analyze data. The findings showed that green innovation culture positively influence product and marketing innovation. Similarly, marketing innovation positively affects product innovation and market performance. In addition, product innovation has a substantial effect on market performance. The outcomes of this study imply that SMEs in emerging economies should concentrate on green innovation culture to improve their market performance. In addition, the identification of study limitations and suggestions for further research are also addressed for all stakeholders involved with SMEs.

Drivers of Sustainable Innovation Strategies for Increased Competition among Companies

The present study aims to analyse the sustainable innovation strategies that companies can implement in their business models in order to improve their economic performance and become more competitive in the marketplace. This study uses a qualitative methodology based on the case method of nine companies. It was concluded that companies have concerns about environmental issues, translated into the implementation of sustainable practices in their business models, not because they are legal obligations, but because they incorporate sustainability in their strategic vision. Thus, companies add considerable value to their value chain and obtain a better strategic positioning in relation to competitors. It was also found that companies intend to implement innovative sustainable practices and that some companies have a business model that already incorporates sustainability strategies. Additionally, concerning sustainable innovation, we concluded that companies innovate in the manufacturing process (producing more with less) and with the product (modifying their product to make it more sustainable and greener). However, companies generally adopt a defensive sustainability strategy. This article is original because it simultaneously contributes to the development of the literature on sustainable innovation, sustainable strategies and company performance. It also recommends that companies improve their sustainable innovation strategies in business models to obtain a sustainable competitive advantage.

Developing a Green Governance Framework for the Performance Enhancement of the Oil and Gas Industry

Green governance is an emerging concept that has received considerable attention from academics and industry over the last decade. Nevertheless, limited evidence is available on how green governance can affect the overall performance of firms. Accordingly, the study develops a green governance framework and establishes its relationship with the firm performance measured through shareholder value-added. While developing a new framework, this study integrated enterprise risk management, sustainability indicators, and green board committees to provide a holistic view of green governance. A contentious examination of the extant literature indicates the efficacy of these factors in mitigating economic, social, environmental, and governance risks. Firms, coping with these risks through the execution of a green governance framework, ensure shareholders’ interest by enhancing their financial returns and stakeholders through promoting sustainability. The study provides theoretical and practical insights to the policymakers, regulators, and practitioners of the oil and gas industry in promoting sustainable and cleaner operations by executing a green governance framework. To the best of the authors’ knowledge, this is the first study to propose an integrated green governance framework for the performance enhancement of oil and gas companies.