Green Finance Dimensions as tools for SMEs Environmental Performance: Evidence from Lagos State, Nigeria | ||
| Aswan University Journal of Environmental Studies | ||
| Article 2, Volume 5, Issue 4, December 2024, Pages 432-446 PDF (438.02 K) | ||
| Document Type: Original Research | ||
| DOI: 10.21608/aujes.2024.295110.1249 | ||
| Authors | ||
| Ademola Samuel Sajuyigbe* 1; Adeniran Rahman Tella2; James Nwoye Obi3; Bolanle Mistura Sanusi4; Adebisi Mariam Adeyemi5; Gbenuola Titilayo Ayo-Oyebiyi6 | ||
| 1Department of Business Administration, Precious Cornerstone University | ||
| 2Department of Business Administration, Faculty of Art, Social & Management Sciences, Atiba University, Oyo, Oyo State, Nigeria. | ||
| 3Department of Business Administration, Caleb University, Lagos, Nigeria | ||
| 4Department of Business Administration, Osun State University, Okuku-Campus, Osun State, Nigeria | ||
| 5Departement of Business Administration & Management, Osun State Polytechnic, Iree, Nigeria | ||
| 6Department of Banking and Finance, Osun State Polytechnic, Iree, Nigeria | ||
| Abstract | ||
| This research investigates the impact of various dimensions of green finance on the environmental performance of SMEs, focusing on selected manufacturing SMEs in Lagos, Nigeria. Two hundred and fifty surveys were distributed to the designated participants, resulting in the successful collection of 235 completed questionnaires. The data analysis utilized both the Pearson Product Moment Correlation Coefficient (PPMCC) and Path Analysis-Structural Equation Modeling (PA-SEM). The findings indicate a positive association between green investment and green training with SME environmental performance, although the correlation is not statistically significant. This suggests that while green investment and training show potential for enhancing SMEs' environmental performance, further exploration is needed. Conversely, the study confirms a positive and significant relationship between green loans, green technology, and SME environmental performance, highlighting the effectiveness of green loans and technology in promoting environmental responsibility among SMEs. In light of these results, it is recommended that governmental bodies, financial institutions, and other stakeholders provide financial incentives and support to SMEs for the adoption of green technology and green loans. Additionally, a collaborative effort is encouraged to actively promote green training initiatives for SME employees. This collective approach aims to cultivate a sustainable and environmentally conscious business environment, aligning with the overarching objectives of environmental sustainability. | ||
| Keywords | ||
| Green Finance; Green Investment; Green Training; Green Loans; SMEs | ||
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