THE ROLE OF THE PUBLIC SECTOR IN PROMOTING SUSTAINABLE BUSINESS AND ACHIEVING COMPANIES´ ENERGY EFFICIENCY GOALS
DOI:
https://doi.org/10.63356/978-99976-57-32-9_5Keywords:
Energy efficiency, sustainable business, corporate governance, company behaviour, business goals, public sector, public-sector measuresAbstract
The role of the public sector in achieving the energy efficiency goals of companies has proven to be a key link that can have a significant impact on the speed and efficiency of the energy transition in companies. Given the different mechanisms at its disposal, the public sector should encourage, support and implement measures and activities that lead to a sustainable and more energy-efficient economy. Through subsidies and tax incentives, research and development funding, educational campaigns and infrastructure development in the field of energy efficiency and renewable energy sources, the public sector can motivate businesses to invest in sustainable technologies and practices. However, sustainable operations cannot be viewed separately from the company's main goal, i.e. achieving positive financial results. Increasing energy efficiency can significantly reduce company costs because energy efficiency is seen as a resource in modern times. The research was conducted on a sample of companies from the energy sector of the Republic of Srpska, analysing the impact of energy efficiency goals on financial results, the level of achieved energy efficiency goals, satisfaction with the level of public sector support, preferred public sector measures, and examining the connection between public sector support and the achievement of these goals. The results of the research suggest that public sector measures to encourage sustainable business are of key importance for achieving the energy efficiency goals of companies in the energy sector, which confirms our research hypothesis.
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