International Journal of Energy Sector Management

Jain, Nikunj Kumar; Choudhary, Piyush; Panda, Abinash; Jain, Sourabh; Dey, Prasanta Kumar

2023 International Journal of Energy Sector Management

doi: 10.1108/ijesm-01-2022-0019

Globally, the oil and gas (OG) industries are under pressure from numerous stakeholders for their sustainable operations against the backdrop of climate change, ecological damage and social challenges. Drawing on the twin theoretical frameworks of the institutional theory and dynamic capability perspective, this study aims to examine the impact of the institutional pressures and dynamic capabilities on the overall sustainability performance of OG industry.Design/methodology/approachThis study uses survey method to analyze the responses from 275 middle management professionals of OG industry in India using partial least squares structural equation modeling. Further, focused group discussions with the select industry leaders validate the empirical findings of this study.FindingsThe research reveals that both institutional pressures and firm’s dynamic capabilities have significant positive impact on its economic and environmental performances in OG sector in India. However, they do not have any impact on social performance, unlike earlier findings.Research limitations/implicationsThe main limitation of the study is generalizability of the findings, given the cross-sectional design of the study.Practical implicationsInsights of this study will help regulators and policymakers in formulating effective regulatory and policy frameworks, besides creating awareness amongst the organizations to simultaneously focus on all the three aspects of sustainability performance.Originality/valueThe research has bearing on policy formulation and creating a regulatory ecosystem to ensure overall sustainability performance of OG industry in India.

Mensah, Barbara Deladem; Abdul-Mumuni, Abdallah

2023 International Journal of Energy Sector Management

doi: 10.1108/ijesm-03-2022-0016

While several existing panel studies have focused on the linear specifications of the effect of remittances and financial development on carbon emissions, nonlinear panel studies on this subject remain thin on the ground. The purpose of this paper is to examine the asymmetric effect of remittances and financial development on carbon emissions in 31 selected sub-Saharan African countries for the period spanning from 1996 to 2018.Design/methodology/approachThe Kao, Pedroni and Johansen–Fisher co-integration tests were conducted to ascertain a long-run relationship among the studied variables, whereas the nonlinear panel autoregressive distributed lag approach was applied to account for asymmetries.FindingsThe study revealed, among other things, that remittances and financial development asymmetrically influence carbon emissions in the selected panel of sub-Saharan African countries. In the long run, the positive shock in remittances on carbon emissions is greater than in the negative shock in remittances. Additionally, both positive and negative shocks in financial development mitigate carbon emissions.Research limitations/implicationsThe implications of this study include the need to provide tax incentives to remitters and encourage them to invest in clean technologies so as to maintain sustainable development and low carbon emissions in the environment. There is also the need for governments and policymakers to formulate policies aimed at improving the functioning of the financial sectors in sub-Saharan Africa.Originality/valueThe positive and negative shocks of remittances and financial development on carbon emissions are examined to ascertain their asymmetric relationships.

Seidu, Sakibu; Owusu-Manu, De-Graft; Kukah, Augustine Senanu Komla; Adesi, Michael; Oduro-Ofori, Eric; Edwards, David John

2023 International Journal of Energy Sector Management

doi: 10.1108/ijesm-09-2021-0007

The demand for energy infrastructure projects has increased steadily over the last few decades and has come at a high cost. Disruptive technologies (DTs) have the inherent capability to affect the performance of energy infrastructure projects. Therefore, this research aims to explore the implications of DTs on the performance of energy infrastructure projects.Design/methodology/approachThis research adopts a positivist philosophical position. A quantitative strategy and deductive approach (based on a survey design) guided this study. Sixty-six respondents participated in the study. The study’s population comprised of experts in energy infrastructure projects who possessed a high level of industrial experience including top- and middle-level management of power generation companies. Cochran’s formula was used to select a sufficient sample for the study. Linear regression, one sample test and Cronbach’s alpha were the analytical tools adopted.FindingsThis study established that there is an 18.4% increase in the performance of energy infrastructure projects in Ghana when DTs are applied. In order of importance, DTs improve speed of operations in energy projects; reduce operating cost and enhance efficiency of energy projects; drive sustainable economic development; enhance security in energy projects; and improve environmental sustainability of projects. The study also revealed that e-commerce technologies, renewable energy technologies, three-dimensional printing, bar code technology, photogrammetry, global positioning systems, geographic information systems and nanotechnologies were the topmost ranked DTs with the most impact on the performance of energy infrastructure projects.Originality/valueThis is a novel investigation on the implications of DTs on the performance of Ghanaian energy infrastructure projects. This study’s practical implication is evident in both policy and practice. Energy sector policymakers should endeavour to adopt DTs in their operations to enhance sustainability and performance.

Mishra, Lalatendu; Acharya, Rajesh H.

2023 International Journal of Energy Sector Management

doi: 10.1108/ijesm-11-2021-0017

This study aims to investigate the relationship between oil prices and stock returns of renewable energy firms in India under different market conditions.Design/methodology/approachThe authors use the panel quantile framework with Fama–French–Carhart’s (1997) four-factor asset pricing model. All renewable energy firms listed in the National Stock Exchange of India are considered in this study. Three oil prices, such as West Texas Intermediate spot price, Europe Brent oil price and Indian basket oil price, are used in the regression. The analysis is done for the whole sample and its subgroups.FindingsIn the whole sample, stock returns of renewable energy firms respond positively to oil price changes in extreme market conditions only. In the subgroups of the renewable energy firms, the relationship between stock returns and oil price is positive and more robust in higher quantiles across all subgroup firms.Originality/valueThe contribution of the study is explained as follows. First, this study helps to explore the relationship between oil and stock returns of the renewable energy sector under different market conditions in the Indian context. Second, existing studies explore the effect of oil prices on stock returns of the renewable energy sector at the industry level, and most of the studies are in developed countries. To the best of the authors’ knowledge, this is the first study in the context of India. Third, this is a firm-level study

Nwafor, Florence Uchenna; Kalu, Ebere Ume; Arize, Augustine C.; Onwumere, Josaphat U.J.

2023 International Journal of Energy Sector Management

doi: 10.1108/ijesm-03-2022-0010

This study aims to investigate in a country-specific comparative and panel form, the impact of energy use on financial development in Organisation of Petroleum Exporting Countries (OPEC)-African countries of Algeria, Gabon, Libya and Nigeria.Design/methodology/approachWith data sets covering the period 1980 to 2020, this study used a combination of country-specific autoregressive distributed lag model (ARDL) and panel-ARDL as well geo-maps to show the spatiotemporal nuances of the investigated countries.FindingsIt was discovered across the investigated countries and in the panel framework that energy consumption significantly impacts both bank development and institutional development, which are subsets of financial development. In addition, evidence in favor of adjustment of financial development to the shocks and dynamics of energy consumption was found.Practical implicationsIntegrative developmental drive for the two sectors can enhance growth and value-chain interactions for the imperatives of the overall growth and development of the OPEC-African countries.Originality/valueThis study adds to the literature on finance and energy development by the introduction of the spatiotemporal analysis.

Dey, Kaushik; Dubey, Amlendu Kumar; Sharma, Seema

2023 International Journal of Energy Sector Management

doi: 10.1108/ijesm-09-2021-0016

This paper aims to focus on the contribution of segregated renewable energy (RE) sources such as solar, wind, bagasse, biomass, small hydropower (SHP) and waste to heat in driving sustainable industrial production in India.Design/methodology/approachThis study uses non-linear modelling techniques such as quantile regression and the non-linear Granger causality test to explore the interplay between segregated RE generation and industrial production in India.FindingsThe study findings support the role of segregated RE sources generation, especially SHP and bagasse, on industrial production in India. This paper finds unidirectional non-linear Granger causality running from segregated RE sources to industrial production. Bidirectional non-linear Granger causality has been established from biomass, waste-heat to index of industrial production and vice versa, supporting an asymmetric feedback hypothesis.Research limitations/implicationsThe study findings will aid the energy policymaker in framing policies for RE sources, especially bagasse-based and SHP generation for the sustainable industrial growth of India.Originality/valueTo the best of the authors’ knowledge, this is one of the first studies to explore the role of segregated RE sources generation to drive sustainable industrial growth in India using non-linear techniques.

Shameem P., Mohammed; Chittedi, Krishna Reddy; Villanthenkodath, Muhammed Ashiq

2023 International Journal of Energy Sector Management

doi: 10.1108/ijesm-04-2022-0010

The purpose of this study is to dissect the transport infrastructure performance, public spending in transport infrastructure development and the manufacturing sector in determining the transport sector energy consumption.Design/methodology/approachAn analysis of transport energy consumption with the transport infrastructure performance, public spending in transport infrastructure and manufacturing sector output in India using annual data for the period 1987–2019. The study used the autoregressive distributed lag (ARDL) bounds test approach along with FMOLS, DOLS and canonical cointegration regression (CCR) methods.FindingsThe results of the ARDL bounds test provide evidence for the long- and short-run relationships among study variables. It evidenced that transport infrastructure performance reduces transport energy consumption by using FMOLS, DOLS and CCR methods. Furthermore, the inference of the positive impact of value added in the manufacturing sector on transport energy consumption validates the higher energy demand of the manufacturing sector from a mobility perspective.Practical implicationsThe estimated finding of this study is expected to be contributing to policy-making discussions on transport infrastructure and manufacturing sector development in an emerging economy like India with insights on energy consumption.Originality/valueTo the best of the authors’ knowledge, this is the first study that integrates the impact of manufacturing sector output on transport sector energy consumption along with transport infrastructure performance and public investment in the transport infrastructure.

Pal, Chandra; Shankar, Ravi

2023 International Journal of Energy Sector Management

doi: 10.1108/ijesm-04-2022-0004

The need to address energy management as a significant innovation in the smart grid is emphasized to enable a more effective penetration of renewable energy to achieve energy savings and CO2 emission reductions. The purpose of this study is to propose a holistic, flexible decision framework for energy management in a smart grid.Design/methodology/approachAccording to the situation actor process−learning action performance (SAP−LAP) model, the variables have been identified after a comprehensive analysis of the literature and consideration of the opinions of domain experts. However, the importance of each SAP−LAP variable is not the same in real practice. Hence, focus on these variables should be given based on their importance, and to measure this importance, an interpretive ranking process based ranking method is used in this study. This helps to allocate proportionate resource to each SAP−LAP variable to make a better decision for the energy management of the smart grid.FindingsThis study ranked five actors based on their priorities for energy management in a smart grid: top management, generator and retailor, consumers, government policy and regulation and technology vendors. Furthermore, actions are also prioritized with respect to performance.Practical implicationsThe SAP−LAP model conveys information about the state of energy management in India to actors who may proceed or manage the flow of electricity. Additionally, this study aids in detecting vulnerabilities in the current energy generation, transmission and distribution technique. The synthesis of SAP results in LAP, which assists in recommending improvement actions learned from the current situation, actors and processes.Originality/valueThe SAP−LAP model is a revolutionary approach for examining the current state of energy management in a unified framework that can guide decision-making in conflicting situations, significantly the contradictory nature of India’s renewable energy and power sectors.

Abdul-Mumuni, Abdallah; Mensah, Barbara Deladem; Amankwa Fosu, Richard

2023 International Journal of Energy Sector Management

doi: 10.1108/ijesm-07-2022-0009

While there are enormous studies on the determinants of environmental degradation, empirical studies on the effect of renewable energy consumption and economic growth on the environment remain limited. The purpose of this paper is to examine the asymmetric effect of renewable energy consumption and economic growth on environmental degradation in 31 selected sub-Saharan African countries spanning from 1990 to 2018.Design/methodology/approachTo examine possible asymmetric effects of the exogenous variables on environmental degradation, we used the panel nonlinear autoregressive distributed lag approach and secondary data was sourced from the World Bank (2021).FindingsThe cointegration test results suggest that there is a long-run cointegration among the variables whereas our main findings indicate that environmental degradation responds asymmetrically to changes in renewable energy consumption and economic growth. The results further reveal that both positive and negative shocks in renewable energy consumption reduce environmental degradation. On the other hand, positive and negative shocks in economic growth increase environmental degradation in the long run.Research limitations/implicationsThe implications of this study include the need for policymakers in sub-Saharan Africa to encourage the utilization of renewable energy as it reduces environmental degradation. Also, governments in the subregion should gradually replace the usage of fossil fuels by adapting renewable energy sources so as to achieve higher economic growth.Originality/valueThe positive and negative shocks of renewable energy consumption and economic growth on environmental degradation are examined to ascertain their asymmetric relationships.

Subramaniam, Yogeeswari; Masron, Tajul Ariffin; Loganathan, Nanthakumar

2023 International Journal of Energy Sector Management

doi: 10.1108/ijesm-03-2022-0009

The purpose of this paper is to examine the potential role of remittances on renewable energy consumption in the top recipient developing countries from 1990 to 2016.Design/methodology/approachThe paper uses autoregressive distributed lag (ARDL) technique to fulfil the purpose.FindingsThe empirical findings divulge that remittances positively affect renewable energy consumption. This finding implies that remittances can potentially increase the level of renewable energy consumption by increasing affordability if proper incentives and encouragement are offered.Practical implicationsGiven the enormous potential that renewable energy can bring to an economy, the government should offer indirect incentives to encourage recipients to allocate a portion of their remittances to renewable energy projects, either as minor investors or users.Originality/valueTo the best of the authors’ knowledge, this paper is novel for two reasons. First, this study adds to the existing literature by empirically examining the link between remittances and renewable energy consumption in the top five remittance recipients, which have never been studied before. Second, the findings of this study will have policy implications not only for the top remittance recipients but also for other remittance recipients, particularly for developing countries.