Do Corporate Renewable Energy Initiatives Influence Sustainable Development?

The corporate efforts in eradicating environmental negativities are a significant aspect that is playing a vital role in sustainable development. Renewable energy initiatives by corporates are also a trending effort through which corporates can promote the process of generation and consumption of clean energy and that helps to conserve non-renewable natural resources and contributes to the same for future generations. The present paper intends to analyze the perception of administrators, managers, and academicians on renewable energy initiatives by corporates and also to study the impact of renewable energy initiatives on sustainable development with the mediating effect of environmental, social, and economic aspects. Therefore, the study followed quantitative and qualitative approaches to achieve the objectives. The study employed descriptive statistics, structured equation modelling, and mediation analysis techniques to draw conclusions based on objectives. The results of the one-sample t-test revealed that the respondents positively opined that renewable energy initiatives by corporations influence sustainable development. Further, the results of simple linear regression analysis confirmed that such initiatives have an influence on sustainable development. The outcome of this study helps industries to know the importance of such initiatives and provides inputs to design their business models based on such initiatives.