The nexus concept has considerably matured during the past decade. Numerous literature reviews have significantly contributed to taking stock of the advancements in knowledge and tool development to improve science-policy support on highly connected and interdependent resources. However, literature reviews often focus on specific sector-based nexus concepts (such as water-energy-food nexus) and analyses (such as environmental assessment, technical tools, or the management and policy dimension). Therefore, a comprehensive understanding of the actual nexus and the resources it builds upon still needs to be improved. This paper aims to test the validity of the nexus construct for research and practice. Based on a systematic review of reviews, including 62 nexus-related review papers and subsequent consultation of some sixty nexus experts, we suggest a robust but flexible approach to advancing the Resource Nexus for research and practice. In doing so, the knowledge provided by nexus research may provide more substantial support to decision-makers when designing and implementing policies for the sustainable management of environmental resources.

In recent years, economic growth has caused an increasing number of environmental problems in China. In order to achieve the goal of carbon peak on schedule, enterprises need to accelerate green transformation and upgrading. Environmental protection expenditure and green technology innovation are important means of corporate environmental governance strategy, but it is unknown whether they can promote the sustainable development of enterprises. Therefore, this article will analyze the effect of enterprise environmental protection expenditure and green technology innovation on financial performance. Based on relevant theories, this study builds a theoretical model to demonstrate how enterprise environmental protection expenditure and green technology innovation can affect the financial performance of heavy polluting enterprises. Empirical tests are carried out using 293 heavy polluting enterprises in China as the sample. The results reveal that: (i) Enterprise environmental protection expenditure has significant negative effects on current enterprise financial performance, while green technology innovation can significantly promote enterprise financial performance. (ii) When the lag period is two periods, the enterprise environmental protection expenditure and green technology innovation have positive effects on enterprise financial performance respectively, and the effects are the most significant. (iii) Enterprise environmental protection expenditure and green technology innovation synergistically promote enterprise financial performance in the current period, and the impact has a lag effect. (iv) In state-owned enterprises and enterprises with higher corporate governance level, the synergetic promotion effect of environmental protection expenditure and green technology innovation on enterprise financial performance is more significant. Finally, this study provides suggestions for promoting the transformation and upgrading of heavy polluting enterprises and achieving sustainable development from the perspectives of the government, enterprises and the public.