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SMEs and carbon neutrality in ASEAN: the need to revisit sustainability policies

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  • Naoyuki Yoshino
  • Ehsan Rasoulinezhad
  • Han Phoumin
  • Farhad Taghizadeh-Hesary

Abstract

Most rules and regulations for protecting the environment and reducing greenhouse gas emissions target large enterprises. Although small and medium-sized enterprises (SMEs) have major shares in most Asian economies, they remain outside the purview of most environmental rules and regulations. The primary purpose of this study is to assess the association between SMEs’ activities and carbon emissions in the Association of Southeast Asian Nations (ASEAN) countries from 2010 to 2020. To this end, a fully modified ordinary least squares (FMOLS) model was developed. The results show that SMEs’ activities do not align with environmental protection goals and sustainable development, as the estimation results revealed their significant contributions to CO2 emissions. Other practical implications of this study for carbon-neutral SMEs are introducing green finance policies, revisiting the environmental and carbon reduction rules and regulations that cover SMEs, and changing banks’ lending mechanisms based on SMEs’ green economic performance.

Suggested Citation

  • Naoyuki Yoshino & Ehsan Rasoulinezhad & Han Phoumin & Farhad Taghizadeh-Hesary, 2023. "SMEs and carbon neutrality in ASEAN: the need to revisit sustainability policies," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 36(2), pages 2177180-217, December.
    • Handle: RePEc:taf:reroxx:v:36:y:2023:i:2:p:2177180
    DOI: 10.1080/1331677X.2023.2177180
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    Cited by:

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    3. Xu, Yuecheng & Shang, Yunfeng, 2023. "Emission taxation and sustainability in the mineral resources industry," Resources Policy, Elsevier, vol. 86(PB).
    4. Sun, Li & Li, Xiangyu & Wang, Yiting, 2024. "Digital trade growth and mineral resources In developing countries: Implications for green recovery," Resources Policy, Elsevier, vol. 88(C).
    5. Liu, Yiou & Yu, Yang & Huang, Yingfei & Guan, Weimin, 2024. "Utilizing the resources efficiency: Evidence from the impacts of media industry and digitalization," Resources Policy, Elsevier, vol. 88(C).
    6. Zhou, Hailing & Liu, Ji, 2023. "Digitalization of the economy and resource efficiency for meeting the ESG goals," Resources Policy, Elsevier, vol. 86(PA).
    7. Gao, Xinxiang & Yu, Jiawen & Pertheban, Thillai Raja & Sukumaran, Sheiladevi, 2024. "Do fintech readiness, digital trade, and mineral resources rents contribute to economic growth: Exploring the role of environmental policy stringency," Resources Policy, Elsevier, vol. 93(C).
    8. Yiping Zheng & Qinyu Xu & Qianrong Wang, 2024. "RETRACTED ARTICLE: How is energy transition shaping a path to common prosperity and sustainable economic growth?," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-16, April.
    9. Xiangyu Du & Wuyang Xie & Weimin Guan, 2024. "RETRACTED ARTICLE: Energy transition in sport and public facilities: pioneering sustainable economic pathways," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-16, April.
    10. Wei, Jiping & Zhou, Jing & Cheng, Zhangfan, 2023. "Role of E-marketing of mineral products in achieving sustainability," Resources Policy, Elsevier, vol. 86(PA).
    11. Gao, Xiaoxue, 2024. "Unlocking the path to digital financial accounting: A study on Chinese SMEs and startups," Global Finance Journal, Elsevier, vol. 61(C).
    12. Sun, Weiqing & Shao, Mingqi & Yang, Dongqing, 2024. "Role of essential minerals in achieving low-carbon economy and sustainability," Resources Policy, Elsevier, vol. 90(C).
    13. Li, Xiang & Tong, Xiuyu, 2024. "Fostering green growth in Asian developing economies: The role of good governance in mitigating the resource curse," Resources Policy, Elsevier, vol. 90(C).
    14. Zhang, Ming & Li, Xiaoyan & Pai, Chih-Hung & Ding, Huanhuan & Zhang, Xuan, 2023. "Green credit and fossil fuel resource efficiency: Advancing sustainability in Asia," Resources Policy, Elsevier, vol. 86(PB).
    15. Xue, Sufang & Jiang, Yajing & Wei, Qiang, 2024. "Green financial accounting and transition in the mining sector in emerging economies," Resources Policy, Elsevier, vol. 89(C).
    16. Li, Liang & Chen, Yifu, 2023. "Intellectual property's role in achieving carbon neutrality through resource efficiency," Resources Policy, Elsevier, vol. 86(PB).
    17. Wang, Yonglong & Wang, Rui, 2024. "Mineral resource rent and sustainable transition: The mediating role of financial development," Resources Policy, Elsevier, vol. 89(C).
    18. Yanyan, Fu & Dong, Xitao, 2024. "Exploring the influence of internal and external conflicts on the resource curse hypothesis in OECD countries," Resources Policy, Elsevier, vol. 88(C).
    19. Han, Dongmei & Teng, Fangfei & Jia, Ruoya, 2023. "Achieving the goal of net-zero requires both resource efficiency and efficient business management," Resources Policy, Elsevier, vol. 86(PA).
    20. Zhao, Zhihua & Xing, Zhenjiang, 2024. "Gold mining, corporate business management, and green growth in Asia," Resources Policy, Elsevier, vol. 89(C).

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