Sajuyigbe, A., Tella, A., Obi, J., Sanusi, B., Adeyemi, A., Ayo-Oyebiyi, G. (2024). Green Finance Dimensions as tools for SMEs Environmental Performance: Evidence from Lagos State, Nigeria. Aswan University Journal of Environmental Studies, 5(4), 432-446. doi: 10.21608/aujes.2024.295110.1249
Ademola Samuel Sajuyigbe; Adeniran Rahman Tella; James Nwoye Obi; Bolanle Mistura Sanusi; Adebisi Mariam Adeyemi; Gbenuola Titilayo Ayo-Oyebiyi. "Green Finance Dimensions as tools for SMEs Environmental Performance: Evidence from Lagos State, Nigeria". Aswan University Journal of Environmental Studies, 5, 4, 2024, 432-446. doi: 10.21608/aujes.2024.295110.1249
Sajuyigbe, A., Tella, A., Obi, J., Sanusi, B., Adeyemi, A., Ayo-Oyebiyi, G. (2024). 'Green Finance Dimensions as tools for SMEs Environmental Performance: Evidence from Lagos State, Nigeria', Aswan University Journal of Environmental Studies, 5(4), pp. 432-446. doi: 10.21608/aujes.2024.295110.1249
Sajuyigbe, A., Tella, A., Obi, J., Sanusi, B., Adeyemi, A., Ayo-Oyebiyi, G. Green Finance Dimensions as tools for SMEs Environmental Performance: Evidence from Lagos State, Nigeria. Aswan University Journal of Environmental Studies, 2024; 5(4): 432-446. doi: 10.21608/aujes.2024.295110.1249
Green Finance Dimensions as tools for SMEs Environmental Performance: Evidence from Lagos State, Nigeria
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.
View on SCiNiTO
Top