Rethinking green investment and corporate sustainability: the south European countries experiences during the COVID-19 crisis

Abstract

Purpose

The COVID-19 pandemic has generated a crisis that has hit the European economy and the currently existing systems. To cope with the crisis, Europe has started an investment aiming the energy transition and crisis. Portugal, Spain and Greece have received the approval of their National Recovery Plans from the European Commission, with a definition of spending up to 2026 through the European Union (EU) Next Generation Found. The study investigates whether the Green Deal policies are relaunched by the plans financed and whether the pandemic has changed and conditioned the priorities of the energy transaction. The study uses the lens of corporate social responsability (CSR) and relapse measurable across the Sustainable Development Goals (SDGs).

Design/methodology/approach

The Green Deal policies supported by new European investments in the three countries were analyzed through a content analysis (CA) technique to investigate the associated practical and theoretical elements.

Findings

The energy theme has a relevance compared to other issues in the investment plans envisaged in Greece, Portugal and Spain. The analysis highlights energy efficiency, sustainable energy and reduction of consumption among the main themes. Energetically, sustainable building plays a central role. The study highlights the relationship between Green Deal policies, CSR, SDGs and management tools adopted.

Originality/value

The study strengthens the relationship between the Green Deal, CSR and SDGs by identifying policies that have already been implemented and theoretical and practical gaps on which politicians and scholars will have to investigate and support in the process of development and continuity of the identified pillars.

Citation

Brescia, V., Esposito, P., Amelio, S. and Biancone, P.P. (2023), "Rethinking green investment and corporate sustainability: the south European countries experiences during the COVID-19 crisis", EuroMed Journal of Business, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/EMJB-03-2023-0093