Green Energy and Green Management: Towards Social Responsibility and Sustainability

The new millennium has been dominated by social responsibility and sustainability. Such predominant thoughts have further facilitated the rooting of green management and green energy development in the business world. Especially renewable energy, which has been growing and shows as having the most representative competitive advantage. This study aims to identify the rationale for renewable energy development in terms of social responsibility and sustainability. The authors strive to review the trends of the worldwide stock markets and analyze the interrelationships between the renewable energy industry and some globally recognized indices such as the Global Competitiveness Index and the Environmental Performance Index. The launch of the sustainability indices and the enhancement of criteria including a new energy initiative in the financial market lead the shift toward a new energy paradigm. Moreover, there has been renewable energy in the heart of the shift. Though there is little significant relationship, it can be inferred that investment in renewable energy can improve environmental sustainability and enhance national competitiveness.