The research problem of this paper is related to numerous open questions in the field of energy, its understanding, its use, and the challenges of the energy future. After the introductory part, in which a brief historical overview of energy literacy is provided, the paper focuses on energy literacy, its emergence, and the different approaches to its definition and measurement. The paper analyzes the energy literacy of students at the Faculty of Economics in Rijeka based on their cognitive, affective, and behavioral skills. Their knowledge about energy, energy processes, and the energy efficiency of the objects they encounter on a daily basis is examined. Their personal attitudes and values are examined through various forms of personal initiatives and active participation in energy sustainability projects. Finally, the habits and behavioral patterns that the respondents have in their daily lives and their tendencies to save energy resources and find energy-efficient solutions are examined. Despite some positive findings, the current results are not satisfactory and point to the creation of adequate public policies with a particular focus on education and the role of the corrective mechanisms of the state, but also the need for joint negotiations between policy makers, regulators, scientists, representatives of civil society, and the business community. The particular contribution of this work is reflected in being the first research of its kind conducted among Croatian economics students, as well as among Croatian students in general; in the creation of a research instrument that is conceptually consistent with the findings from the existing literature, but with an original set of questions within each energy literacy skill adapted to the cultural and sociological background of the respondents; and in a kind of progress from previous research by taking into account the quantitative aspect (in addition to the qualitative) assessment of the respondents’ energy literacy.

This paper applies the systematic literature review (SLR) method to examine the effects of energy shocks on financial markets in the academic literature. Following the PRISMA 2020 guidelines, the study uses the Scopus database to identify relevant articles published between 2022 and 2026. From 710 initial records, 109 articles were selected after applying predefined eligibility and screening criteria. The literature covers stock, foreign exchange, bond and green financial markets, as well as multi-market and broader macro-financial effects. The findings show that energy shocks affect financial markets through heterogeneous, asymmetric and time-varying mechanisms. Their effects depend on the type of shock, market characteristics, country-specific factors and prevailing economic conditions. Supply, demand and risk shocks generate different responses, while spillovers tend to increase during periods of uncertainty and financial stress. The review highlights the importance of energy shocks as a source of financial market volatility and their influence on financial conditions through economic activity, inflation, credit conditions and expectations.

This article examines corporate risk management as a measurable and economically relevant driver of firm performance, with a specific focus on the integration of environmental, social, and governance (ESG) risks into the risk management process. We develop a Composite Risk Management Index (CRMI) based on a structured questionnaire that captures the frequency, depth, and integration of risk management practices, including explicit treatment of ESG-related risks. Using cross-sectional econometric models on a sample of medium-sized and large companies, we analyse the relationship between CRMI and multiple performance and stability indicators, including return on equity, return on assets, operating cash-flow efficiency, and financial stability. The results indicate a statistically and economically significant association between higher risk management maturity and superior business performance across all dimensions. The findings suggest that ESG risk governance, when embedded within an integrated risk management framework, contributes to value creation rather than representing a purely compliance-driven activity. From a sustainability perspective, the results demonstrate that ESG-integrated risk management enhances long-term corporate resilience and supports sustainable value creation. To support practical interpretation, the study is complemented by a web-based application that enables real-time self-assessment of risk management quality under conservative methodological assumptions.