Factors shaping corporate green economy practices in Kyrgyzstan and Georgia

Kamalbek Karymshakov*, Dastan Aseinov

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Kyrgyz-Turkish Manas University, Chyngyz Aitmatov Avenue, 56, Bishkek, 720020, Kyrgyz Republic

Email: kamalbek.karymshakov@manas.edu.kg

Dastan Aseinov: dastan.aseinov@manas.edu.kg

https://doi.org/10.29258/CAJSCR/2024-R1.v3-2/89-113.eng

Thematic cluster: Environmental Science, Sustainability

Type of paper: Research paper

December 29, 2024

Abstract

Environmental practices by private businesses are important for transiting to green economy. Against the backdrop of scarce empirical literature on green economy practices in the Central Asian Region, this study aims to examine factors affecting corporate green economy practices in Georgia and Kyrgyzstan using the most recent enterprise survey dataset, as well as contribute to the discussion of the green economy driving factors from enterprises’ perspective. Green economy practices are assessed based on CO2 monitoring and energy management actions. The study’s empirical findings suggest that along with general business characteristics access to finance and energy costs drastically impact the adoption of green economy routines in the private sector. Interestingly, the use of foreign technology and international certification have demonstrated positive effects only in the sample of Georgia, without any statistically significant manifestations in Kyrgyzstan. Moreover, only large firms have shown positive trends in adopting CO2 monitoring and energy management measures. These findings imply the need for adjusting targeted green economy state policies to specific country contexts.

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For citation: Karymshakov K., Aseinov D. (2024). Factors shaping corporate green economy practices in Kyrgyzstan and Georgia. Central Asian Journal of Sustainability and Climate Research, 3(2), 89-113. https://doi.org/10.29258/CAJSCR/2024-R1.v3-2/89-113.eng

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