Chlyeh, DouniaBayraktar, ErkanYılmaz, Mustafa KemalTatoğlu, EkremZaim, SelimYönetim Bilimleri Fakültesi, İşletme Bölümü2024-09-262024-09-262024Chlyeh, D., Bayraktar, E., Yılmaz, M. K., Tatoğlu, E. ve Zaim, S. (2024). Sustainability to financial realities: A comparative study of renewable energy's impact on financial performance. PICMET 2024 - 2024 Portland International Conference on Management of Engineering and Technology: Technology Management in the Artificial Intelligence Era, Proceedings içinde (1-11 ss.). Portland: Institute of Electrical and Electronics Engineers. https://www.doi.org/10.23919/PICMET64035.2024.106533239.78189E+12https://www.doi.org/10.23919/PICMET64035.2024.10653323https://hdl.handle.net/20.500.12154/3039This study examines the impact of renewable energy (RE) performance on companies' financial performance, primarily focusing on RE-related sustainable development goals (SDGs) and environmental factors. We analyze a sample of 2,737 companies across 47 countries from 2009 to 2018 using panel data analysis. Our results suggest that the effect of RE performance can be understood through three phases: policies adopted, targets established, and actions implemented. Interestingly, RE policies negatively impact profitability due to the substantial costs incurred by companies. Moreover, RE-related SDGs are found to affect companies' financial performance adversely. However, environmental factors demonstrate a positive and significant impact on corporate financial performance, which is observed consistently across developed and emerging countries. Furthermore, RE performance targets and actions have a significant positive impact, specifically in developed countries. This highlights the complex relationship between RE initiatives and financial outcomes, highlighting differential effects across various stages of implementation and geographic contexts.eninfo:eu-repo/semantics/openAccessRenewable Energy SourcesData AnalysisCostsProfitabilityFocusingCompaniesEnvironmental FactorsConference Object11110.23919/PICMET64035.2024.106533232-s2.0-85204349424N/A