Purpose: Despite the growing emphasis on sustainability and the need to manage environmental, social, and governance (ESG) risks, the direct relationship between enterprise risk management (ERM) and green growth (GG) has not been investigated. This study seeks to fill this gap by examining the effect of ERM on the GG of oil and gas (O&G) companies in Malaysia.Design/methodology/approach: The study used panel data regression models to analyze panel data from 2012 to 2021. For computing GG, we adapted the Organization for Economic Cooperation and Development’s (OECD) GG framework. ERM is computed using COSO and WBCSD guidelines for ESG-related risks. Weighted content analysis is used to measure ERM and GGFindings: The findings derived from the content and descriptive statistics analyses indicate a consistent and ongoing rise in the adoption of ERM practices over time. However, some companies are still in the initial stages of incorporating ERM to address ESG risks. The study’s findings unequivocally establish a substantial and positive relationship between ERM and GG. ERM drives GG by significantly influencing its environmental and resource productivity dimensions. The study further reveals that the impact of ERM on economic opportunities and policy responses, as well as the natural asset base, is statistically significant, albeit with relatively lower coefficient values.Practical implications: To enhance the legitimacy of organizations and foster positive stakeholder relationships, regulators, governments, and policymakers should actively promote the adoption of ERM standards that specifically address ESG risks, as outlined by COSO and WBCSD. This strategic alignment with risk management practices will ultimately contribute to improving green growth for organizations.Originality/value: To the best of the authors' knowledge, this is the first study examining ERM’s effect on GG. The study adds to the existing literature by focusing on ERM’s role in a company’s GG. It clarifies ERM’s significant effect on diminishing emerging ESG risks and advancing GG

The purpose of this study was to conceptualise a framework that reflects an intertwined relationship between the green board committee and firm performance. Agency and stakeholder theories hold a basic notion of supporting the relationship between the green board committee and firm performance. The moderating role of intellectual capital (IC) was introduced in the intertwined relationship between green board committees and firm performance based on a resource-based view theory. This study proposes a new measurement index, namely, the “green board committee index”, to measure the green practices of organisations. This index is comprised of four dimensions: strategy and policymaking, monitoring and control, sustainability, and risk management. The current study hypothesised a significant and positive relationship between the green board committee and firm performance. It was believed that the moderation effect of IC strengthens the relationship between the green board committee and firm performance. The data for this study were proposed to be measured through a content analysis of the company’s annual and embedded reports and a Thomson Reuters DataStream terminal. It adds to the body of knowledge by alluding to an integrated notion of green board committees and IC concerning firm performance. The mentioned conceptual framework sends signals to legislators, regulators, policymakers, and practitioners on the critical insights and actions of green board committees in setting strategies and objectives, addressing sustainability issues, forging a relationship with stakeholders, and increasing the firm’s value from the business operations.

Green governance is an emerging concept that has received considerable attention from academics and industry over the last decade. Nevertheless, limited evidence is available on how green governance can affect the overall performance of firms. Accordingly, the study develops a green governance framework and establishes its relationship with the firm performance measured through shareholder value-added. While developing a new framework, this study integrated enterprise risk management, sustainability indicators, and green board committees to provide a holistic view of green governance. A contentious examination of the extant literature indicates the efficacy of these factors in mitigating economic, social, environmental, and governance risks. Firms, coping with these risks through the execution of a green governance framework, ensure shareholders’ interest by enhancing their financial returns and stakeholders through promoting sustainability. The study provides theoretical and practical insights to the policymakers, regulators, and practitioners of the oil and gas industry in promoting sustainable and cleaner operations by executing a green governance framework. To the best of the authors’ knowledge, this is the first study to propose an integrated green governance framework for the performance enhancement of oil and gas companies.

Purpose: The purpose of this paper is to explore the contending role of important external inflows on the economic growth of Pakistan economy. The main purpose behind focusing on Pakistan is that it is receiving significant inflows from different international sources such as International Monetary Fund, World Bank and Asian Development Bank.Design/methodology/approach: The study adopted the autoregressive distributed lag cointegration approach for the purpose of exploring the long-run cointegrating relationship among the variables. As Pakistan Government had been implementing some major liberalization policies during 1990s, data from 1976 to 2018 is used to estimate the specified models to reflect the impact of the surge of foreign inflows occurring from that time. In addition, error correction model is estimated for examining the short-run relationships.Findings: The findings revealed the significant role played by different inflows in accelerating the economic growth. According to results, in the long run, all inflows, for example, Foreign direct investment (FDI), debt, official developdment assistance and remittances, have influenced significantly and positively the economic growth. The two control variables such as inflation and employment level included in the model have also played their expected role in the growth process. In the short run, some of the variables such as remittances, FDI and inflation rate have lost their significance level while for debt, aid and employment level, the signs of their coefficients become reversed.Practical implications: Based on the findings, the study suggests the policymakers of Pakistan economy to liberalize the economy and attract more inflows from the external sources to accelerate economic growth.Originality/value: To the best of the authors’ knowledge, this is the first comprehensive empirical study on the role of foreign inflows in the process of economic growth in the context of Pakistan economy.