Key enablers for energy firms in implementing the SDGs: Lessons based on a resource-based view approach

Abstract

Considering the United Nations’ 2030 Agenda for Sustainable Development, this paper explores the critical role of the energy sector in achieving the Sustainable Development Goals (SDGs). Employing a resource-based view perspective, this study investigates the enablers that facilitate SDGs implementation within global energy firms, distinguishing between renewable energy and fossil fuel firms. By means of an empirical analysis using the Refinitiv Eikon database, covering 522 firms across the fossil fuel and renewable energy sectors, Partial Least Squares Structural Equation Modelling and Qualitative Comparative Analysis are used to understand the enablers that explain the implementation of SDGs in this industry. Our findings indicate significant differences between renewable energy and fossil fuel firms in relation to the effectiveness of enablers, underscoring the complexity of implementing SDGs in the energy sector. This study contributes to the theoretical understanding of how energy firms can leverage their resources and capabilities to align with the 2030 Agenda, offering insights for policymakers and practitioners aiming to support the transition of the energy sector towards sustainability.