GREEN INVESTMENT DISCLOSURES AND SUSTAINABLE GROWTH OF LISTED OIL AND GAS COMPANIES IN NIGERIA
Abstract
Despite growing investments in environmentally sustainable practices, oil and gas companies continue to face environmental challenges such as oil spills, gas flaring, and poor waste management, which threaten their sustainable growth. The main objective of this study was to examine the effect of green investment disclosures on sustainable growth of listed oil and gas companies in Nigeria. The research design adopted in this study was ex-post facto, secondary data were used and the population of the study was 9 listed oil and gas companies of which purposive sampling technique was employed to select 6(six) companies as the sample size. The method of data analysis used was ordinary least square regression analysis and the statistical package employed was E-views version 13. The result of the analysis revealed that renewable energy investment disclosure has significant positive effect (coef. 0.48205; p-value 0.0028) on sustainable growth rate; waste management disclosure (coef. 0.17063; p-value of 0.0125) has positive significant effect on the sustainable growth rate; and energy efficiency disclosure (coef. 0.020983; p-value 0.0380) has a positive significant effect (coef. 0.020983; p-value 0.0380) on the sustainable growth rate of listed oil and gas companies in Nigeria. Therefore, it was concluded that green investments disclosures are key drivers of sustainable growth in the Nigerian oil and gas sector. It was therefore recommended among others that Firms should integrate renewable energy into their long-term strategic and capital expenditure plans in order to reduce dependence on fossil fuel based energy sources, lower energy costs, and mitigate exposure to energy price volatility.
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