In response to climate change that threatens both economic and social sustainable development, governments adopt strict environmental policy measures to reduce greenhouse gas emissions and encourage the use of energy from renewable sources. The main purpose of this study is to investigate to what extent the strictness of environmental policy can influence the level of greenhouse gas emissions and the consumption of renewable energy in selected Organisation for Economic Co-operation and Development (OECD) countries. The Fully Modified Ordinary Least Squares (FMOLS) method and Granger causality test were employed in order to investigate the long-run relationship between the main components of the environmental policy stringency index and the evolution of greenhouse gas emissions and renewable energy consumption. The results indicate significant influences of the Market-based instruments sub-index and the Technology Support policies sub-index on greenhouse gas emissions reduction, while the Non-Market Based instruments index, which includes policies that impose emission limits and standards, does not exert any significant influence in this regard. Regarding the impact on renewable energy consumption, the results of this study indicate significant positive influences from the perspective of the three sub-indices used in the analysis. These results should send a signal to decision-makers on the effectiveness of policies that impose emission limits and standards, in the sense that their improvement will generate significant influences in mitigating climate change risks.

The study in hand investigates the impact of the Internet of things (IoT) and digital platforms on frugal innovation. Furthermore, we also tested the intervening role of digital platforms and moderating role of organizational readiness. Data were collected from SMEs and the collected data were analyzed with various statistical techniques. Findings shown that the IoT positively affects digital platforms and frugal innovation. Results proved that digital platforms mediate the association between the IoT and frugal innovation. Furthermore, organizational readiness also moderates on the association between digital platforms and frugal innovation. The findings revealed that only those businesses that update their business operations according to the needs of their customers can achieve success. Frugal innovation is an emerging concept, and its achievement is a very tricky and complex task. This study shows that only those businesses that update their business operations using the IoT and digital platforms can achieve success. Moreover, modern SMEs should be able to adapt to the required changes in their business activities. Hence, SMEs also require some strategic changes in their operations in order to cope with changing business circumstances.

Due to technological advancements, all types of businesses confront new opportunities. In the contemporary era of technology, innovation performs a key role in successful commercial landscape operations. Therefore, this research was conducted to examine the effect of the innovation network (IN) on organizational innovativeness (OI). Moreover, the mediating effects of frugal innovation (FI) and the moderating role of organizational readiness (OR) have also been examined. Data collection through a cross-sectional method was conducted for this study from SMEs. Some 442 managers and owners provided correct responses, which were used for further analysis. SEM was used for testing the hypotheses of the current study. The results showed that the innovation network positively affects organizational innovativeness. Furthermore, the outcomes also validated that frugal innovation plays a mediating role between the innovation network and the organizational innovativeness link. The SMEs working in the circular economy are mainly dependent on their innovative activities/actions. In the current dynamic scenario, the survival of SMEs is linked to continuous organizational innovativeness in their products/services.