Environmental Science and Pollution Research (2022) 29:21426–21439

https://doi.org/10.1007/s11356-021-17163-5

RESEARCH ARTICLE

Assessing the performance of sustainable entrepreneurship

and environmental corporate social responsibility: revisited
environmental nexus from business firms
Zafran Ahmad1 · Liu Chao1 · Wang Chao1 · Wasim Iqbal2 · Sulaman Muhammad2 · Shujaat Ahmed1

Received: 13 August 2021 / Accepted: 19 October 2021 / Published online: 10 November 2021
© The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2021

Abstract
Society is currently contemplating sustainable growth strategies, which have become somewhat apprehensive by associating
entrepreneurship, innovation, and sustainable development. In this perspective, this article’s objective is to connect sustain-
able development to environmentally sensitive entrepreneurship via scientific proof of developing nations. Therefore, this
research objective is to confirm the hypothesis of corporate social responsibility (CSR) to confirm that Pakistan achieves
its objectives for sustainable development. The combined average estimator and pooled mean group (PMG) model of the
self-release lag model determines a lengthy-term combination of factors and environmental analysis in the Kuznets. We can
see the U-shaped ecological arcs in Pakistan. Further results show that the pooled mean group autoregressive distributed
lag (PMG-ARDL) estimator has a long-term relationship. This indicates that a 1% rise in per-capita income at some stage of
industrial growth will reduce environmental emissions by 2.88%, 4.54%, and 2.48%. The results show that (1) CSR has a sub-
stantial and robust link to the two factors of organizational success (employee engagement and credibility); (ii) respectively
socio-cultural and ecological CSR make a positive contribution to the success of Pakistani companies; (iii) the ecological
dimensions of CSR being the essential relevance to Pakistani companies’ credibility and engagement of employees. This
research attempts to include additional analytical information on the contribution of CSR to profitable growth. This also has
academic and empirical ramifications, showing how domestic and international companies in developing countries can do
CSR. This research is expected to give guidance to policymakers.

Keywords Ecological emission · Ecological enterprises · Kuznets curve · Sustainability growth

Responsible Editor: Ilhan Ozturk Introduction

* Zafran Ahmad Community groups and citizens in corporate social respon-
zafranahmad@qq.com
sibility (CSR) seem to be vital for investigators, experts,
* Liu Chao and stockholders working on competitive environment and
liuchao@bjut.edu.cn
advanced technologies. CSR develops healthy behavior and
Wang Chao attracts global players to draw valuable outputs from dif-
chaowonghn@vip.163.com
ferent input processes. Terán-Yépez et al. (2020) discuss
Wasim Iqbal various dimensions of the relationship between CSR and the
drwasimiqbal01@yahoo.com
financial value for the market environment. However, this
Sulaman Muhammad relationship is not as fruitful as commonly comprehended
Sulaman_muhammaad@yahoo.com
(Silvestri and Veltri 2020). Instead of raising the dividend
Shujaat Ahmed ratios of shareholders, management is built by the modern
syedshujaatshah@hotmail.com
theorists through local and environmental company capital
1
School of Economics and Management, Beijing University as mentioned in agency theory. Consequently, for resource
of Technology, Beijing, China optimization, better product marketing is required with vari-
2
Department of Management Science, College ations in the social and management performance of a com-
of Management, Shenzhen University, Shenzhen, China pany. In contrast with other rivals, high-skilled workers gain

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Environmental Science and Pollution Research (2022) 29:21426–21439
access to untapped business opportunities (Anser et al. 2020;
Khokhar et al. 2020b; Iqbal et al. 2021a, c).
The critical element in growth, job development, and
creativity is entrepreneurship. On the other hand, the ori-
gins of entrepreneurship were not well understood. Finan-
cial capital, human desires, expertise, and schooling are the
potential determinants of enterprise tendency, in addition
to the recently analyzed factors, such as colleges, organi-
zations, and societies. Reasons for why people choose to
be a part of such an environment for their skills and inter-
ests are known, the same way as the implications of dif-
ferent situations (Yang et al. 2021; He et al. 2020; Mohsin
et al. 2020). The origin of entrepreneurial behavior should
therefore be studied in the early years (Criado-Gomis et al.
2020). Hence, sustainable development forms the foundation
for most of the economic policies for its ability to achieve
environmental, societal, and financial goals of sustainable
growth. Nevertheless, policymakers face challenges due to
shortage of resources and robust population increase (Zhang
et al. 2021b).
Environmental unsustainability enhances the emission of
carbon dioxide in the environment, mitigating the influence
of environmental change, ozone layer depletion, and deg-
radation of multifariousness and thereafter achieving sus-
tainable development goals (Tiep et al. 2021). Muhammad
Muneeb et al. (2020) assess how environmental and climate
change vary with environmental entrepreneurship. Environ-
mental businesses enable biodiversity conservation, apart
from their contribution to solving social and environmental
problems (Hou et al. 2019; Iqbal et al. 2019a, 2021a; Abbas
et al. 2021). The widespread rough land, ecosystem degrada-
tion, removal of trees, increasing temperature, and reducing
water level cause a poor complementary environmental view
in Pakistan (Khokhar et al. 2020a). The economic growth of
Pakistan is challenged by the 32% of population, having no
electricity, which results in the inability to achieve sustain-
ability objectives (Iqbal et al. 2020a). Initially introduced
in the 1990s, CSR is now practiced by many enterprises
in Pakistan. Legislations and authorities to enhance share-
holders security and set a strong association between the
entrepreneur and society are under process at present, by the
government of Pakistan (Butkouskaya et al. 2020). Company
management, better innovation, offers to attract global play-
ers, and increase investment returns with the registered seg-
ments are some of the major indicators (Irshad et al. 2019).
Business practices and new ideas are encouraged by adding
the increasing value of business development in this pro-
cess (Baloch et al. 2020). This study addresses the negative
impacts on the environment with the environmental enter-
prise approach in literature.
We apply the EKC method to green enterprise to assess
its position in environmental emissions. This study proposes
ways to decrease environmental emissions by analyzing
21427
sustainable entrepreneurship and encouraging entrepre-
neurial awareness. In short, the study emphasizes the role
of sustainable entrepreneurial strategy to regulate and reduce
environmental pollution as it introduces a reduction in envi-
ronmental pollution through a sustainable entrepreneurial
approach.
Emerging countries are the primary focus of CSR and
market literature. An unsystematic set of findings are obvi-
ous for the relationship between CSR and entrepreneurial
achievement (Iqbal et al. 2021d). As a result, the main
goal of this study is to highlight the importance of social
company accountability in both domestic and international
organizations. The abovementioned target is achieved
through 83 questionnaires from SME entrepreneurs in Paki-
stan (Khokhar et al. 2020a). The rest of the study constitutes
the second part as the literature review, the third part as the
analytical strategy, the fourth part as the analytical findings
and discussion, and the fifth part as the conclusions, policy
implications, and recommendations.
Literature review
Company social responsibility and outcomes
The relationship between CSR and organizational success is
the main focus of various researches, conducted worldwide.
Moreover, between CSR and specific areas of the company,
governance is also discussed by many researchers, discuss-
ing corporate society and how ecological and socio-cultural
success as social responsibility is considered a factor. A
positive CSR-company efficiency relationship is evident in
many types of research (Utami and Hasan 2021). However,
several particular types of research focus on providing con-
tradictory findings, indicating that companies may incur
costs because of social responsibilities, causing them to be
financially unfavorable instead of other conscientious busi-
nesses (Iqbal et al. 2019b). The objective of this study is to
expose the fundamental relationship between energy, per-
taining to sustainable development and gender, and entrepre-
neurship, which explains the social, equitable energy system
dealing used in domestic gender obstacles and entrepreneur-
ship (Machanguana and Dias Sardinha 2021).
We have not only looked at all streams of literature to do
this. We assume that while female scholars’ current diag-
nosis is different from that of female and electrical schol-
ars, there appears to be a general hope for change in gender
equality if the empowerment of women is achieved. Moreo-
ver, environmental entrepreneurs work on the reduction of
environmental destruction and a series of progressive and
disruptive developments by environmental undertakings
by addressing environmental issues (Iqbal et al. 2021b).
Existing organizations alone are unable to accomplish the
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21428
SDGs due to the dynamic and unpredictable target. Hence,
environmental entrepreneurs are in a unique position to
form environmentally sustainable environmental technolo-
gies (Amorelli and García-Sánchez 2021). A set of activi-
ties are adopted by environmental entrepreneurs to develop
new risk capital and to leverage the opportunities caused by
market failures according to Khokhar et al. (2020c). Hence,
the planet is shaped with environmental goods, maintain-
ing a healthy atmosphere. The environmental protection of
large firms or environmental companies is ensured due to
their ability to reduce and enhance their activities, which
in turn affects sustainable development through ecological
engineering (Zhang et al. 2021c). Green innovation builds
employment and highlights the value of entrepreneurship
for sustainable economic development more, as compared to
the other forms of innovation, as explained by a number of
scholars Sun et al. (2020b) and Baloch et al. (2020).
This aim can only be accomplished if the capacity for
creativity achieves that the creative activity is adequate.
The research and development of environmental innova-
tion and energy management human resources and research
and development activities form the basis for the adoption
of green tech among entrepreneurs (Yumei et al. 2021).
Likewise, innovation capacity dictates the achievement of
sustainability based on the given analysis in which several
researchers highlighted the fact which might be hindered
through various obstacles, especially when setting up envi-
ronmental companies, including green tech and financial
lacking (Alemzero et al. 2020a, b; Sun et al. 2020a). Funding
strategies confirming green innovation expenditure encour-
age renewable goods or services.
More precisely, environmental risk practices are con-
sidered “green,” according to the OEC (2011), which is
included in the environment industry for environmental
good manufacturing (Sedehzadeh and Seifbarghy 2021).
The use of fossil or dirty energy by environmental busi-
nesses increases emissions. Consequently, the reduction
of deterioration in the ecosystem calls for ecosystem
entrepreneurship inputs and outputs (Alemzero et al.
2020a). The business world can enable the adoption of
environmental sustainability as it addresses environmental
problems in the long run. The economic growth with a
gross domestic product (GDP) is measured by economic
development, characterized as a per-capita rise in income.
This process results in climate change reduction, habitat
conservation, and an increase in water and farming prac-
tices of the environment (Iqbal et al. 2021b). Hence, sus-
tainable growth is focused on the economic development
of ecological sustainability through environmental entre-
preneurship (Agyekum et al. 2021; Zhang et al. 2021a).
Environmental pollution is positively affected by indus-
trialization, as shown in the research based on the the-
ory of environmental modernization. The quality of the
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Environmental Science and Pollution Research (2022) 29:21426–21439
environment is therefore improved as green technologies
or ecological innovation replace high emission technology
(Mohsin et al. 2021).
A suitable diffusion of technology discovered by aca-
demics creates a structure and other measures to improve
sustained economic development in developed and devel-
oping countries through various environmental action
plans. Therefore, climate change and its adverse envi-
ronmental effects in sub-Saharan Africa along with the
Sustainable Development Goals is the focus for many
countries (Li et al. 2021; Chien et al. 2021a; Iqbal et al.
2021d). The inadequate financial support and sustainable
innovation in the achievement of sustainable develop-
ment goals in developing countries continue as a problem
(Chien et al. 2021b). The economic conditions of vari-
ous regions or countries bring a variation in the process.
Detailed research on environmental degradation is done
by many countries. Gu and Zheng (2021) suggest eco-
nomic development as a factor to influence environmen-
tal pollution. The ecological theory of the Kuznets curve
(EKC) elaborates the relationship between growth in the
economy, and ecological destruction and the sustainable
empirical findings are connected by the EKC model (Al
Asbashi et al. 2019). An increase in wages, energy use
and environmental pollution, and other main variables
influencing pollution to elaborate the process even further.
Different environmental factors, such as financial growth,
human growth, free trade, and renewables, are also dis-
cussed by some researchers. EKC hypothesis, in addition
to some other methods, such as the ARDL combination
test in India and an inverted U-shaped EKC, validates this
process. Moreover, the absence of EKC in West Africa
is explained with robust and tested fixed effect and fixed
effect hypothesis by the South American countries through
EKC. Similarly, the use of FMOLS is explained by Iqbal
et al. (2020b). The use of FMOLS and DOLS validates the
EKC in 6 geo-economic regions (Iqbal et al. 2019c). The
EK is estimated with PMG to estimate EKC by some other
scientists in NAFTA and BRICS.
However, in most researches, the group of countries taken
is not as much to provide appropriate findings, neglecting
situation of economy and techniques. Hence, it becomes
difficult to adopt various rules followed by all countries in
the group, since the guidelines are threatened and the EKC
hypothesis is assessed through PMG-ARDL approximation.
A number of panels, such as paper conditions, are possibly
calculated by the estimation method as it provides accurate
results.
Environmental Science and Pollution Research (2022) 29:21426–21439 21429

Methodology integrity. Furthermore, the dynamics of possible variables

Data and model specification
The data used in this article is derived from World Bank
Indicators (WDI), and the selected sample spans the years
2000 to 2018.
A functional type for Cobb Douglas development is
defined as follows (Ahmad et al. 2021a):
(1)
( )
EPt = f EEt , FDt , TOt , IPCt , HDt ,
Equation 1 is expressed, using the natural log, as follows:
LnEPt = 𝛼0 + 𝛽1 LnEEt + 𝛽2 LnFDt + 𝛽3 LnTOt + 𝛽4 LnIPCt + 𝛽5 LnHDt + 𝜀t
The environmental pollution’s natural logarithm meas-
ured in tons of carbon dioxide emission is given as LnEPt ,
whereas the natural environmental entrepreneurship loga-
rithm is represented as LnEEt and is measured with the
renewable energy percentage, as a proxy. The natural
financial development logarithm measured through domes-
tic credit and public credit for the GDP sector is given as
LnFDt . Similarly, LnTOt and LnIPCt indicate the logarithm
of trade-operated, and logarithm per-capita revenue. Fur-
ther, Table 1 presents the descriptive statistics of the studied
variables.
ARDL model
are calculated with the unrestricted dynamic mistake cor-
rection models.
∑p ∑p
ΔlnEPt = 𝛿0 + 𝛿1 i=1 ΔlnEEt−1 + 𝛿2 i=1 ΔlnFDt−1
∑p ∑p ∑p
+ 𝛿3 i=1 ΔlnIPCt−1 + 𝛿4 i=1 ΔlnTOt−1 + 𝛿5 i=1 ΔlnHDt−1
(3)
+ 𝜑1 lnEPt−i + 𝜑2 lnFDt−i + 𝜑3 lnIPCt−i + 𝜑4 lnTOt−i
+ 𝜑5 lnEEt−i + 𝜑6 lnHDt−i + 𝜇t
where a constant word is given as Δ, the long-term coef-
ficient is represented by short-term kinetics β, whereas 𝜇t
represents an error term. Similarly, a short-term kinetics is
suggested by β, and the long-term integration ties among
(2) environmental undertakings, financial growth, trade open-
ness, per-capita income, human development, and environ-
mental pollution are tested by the ARDL method in this
study, through the F-statistics. Meseguer-Sánchez et al.
(2021) proposed the outermost crucial limits (UCB) and
lowest crucial limits (LCB) to validate the model. A value of
the F-stat, lesser than lowest crucial limits (LCB), is unable
to disallow the null hypothesis, stating an absence of the
enduring co-integration between the variables. Correspond-
ingly, the value of the F-stat, higher than the outermost cru-
cial limits (UCB), suggests the rejection of zero hypothesis,
implying long co-integration. The estimated outcome of an
ARDL limit is indefinite if the value of the F-stat varies
between the lowest crucial limits (LCB) and the outermost
crucial limits (UCB).

The calculation of complex forces at the classification level

for long-term and short-term stages is done with the ARDL PMG method
technology and can be implemented in level I (0) and level
I first (1) with the original variable for its numerous advan- The pooled mean group technique has become a handy
tages. The number of the sample size used is considered tool for data surveillance over moment, as well as a great
to suggest the strong ability of the outputs and to stand- method for energy affect panel-growth connections for
ardize the lag. FA accurate estimate in long-run imitations enabling communication among fuel pollution and energy
is guaranteed through the ARDL model along with the stability, as well as enterprises (Zhang et al. 2021a; Hsu
t-statistical significance. Moreover, the ARDL used simple et al. 2021; Ehsanullah et al. 2021). This gives the result of
linear regression to introduce a strong usability modifica- mean group forecasting models on vague generalizations
tion method. Similarly, the dynamic free error correction is clarified by Ahmad et al. (2021b). Several approaches,
model includes an intersection between the lifelong and such as heteroscedastic, serial, and non-linear, are used
temporary vibrant balances and long-standing information to apply the PMG models. The over-identification of
parameters is an advantage of using the PMG estimator
as stated by Soto-Acosta et al. (2016). Mean group is also
Table 1  Summary of descriptive statistics being used in non-exogenous designs to calculate the rela-
Variable Mean Std. dev Min Max tionship between economic growth and energy variables.
Many studies have suggested that the two directional con-
LnEP 0.8925 0.8925 1.2915 1.6485 nections among economic growth and energy consump-
LnEE 4.893 5.6385 1.9005 6.6465 tion in a few countries imply the suitability of the PMG
LnFD 1.659 3.024 4.2945 2.6565 environment. Nevertheless, it is represented as unit-direc-
LnTO 1.995 1.7745 2.2155 2.478 tionally causal by many studies.
LnIPC 2.5305 2.4675 2.814 3.129 The PMG model (Stubbs 2017) is defined as follows:
LnHD 2.0265 1.911 2.289 2.6355

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21430
Yi,t = 𝛼 + 𝛽Yi,t−1 + 𝛿Xi,t + 𝜇i,t + 𝜀i,t
where the variable dependable on a country i at time
tand Yi,t−1 as the primary level of the dependent variable
(its lagged value) is represented as Yi,t , a set of explanatory
variables as Xi,t , and the country-specific effects as 𝜇i,t ,
whereas 𝜀i,t is the error term. Similarly, GDP per capita
growth is the dependent variable, Xi,t is the explanatory
variables, and the PMG method uses the lagging independ-
ent variables as tools:
EP = 𝛼i,t + 𝛽i,t EEi,t−1 + 𝛾i,t FDi,t + 𝛿i,t TOi,t + 𝜆i,t IPCi,t + 𝜂i,t HDi,t + 𝜀i,t
Since people are motivated to buy from companies,
actively engaged in CSR practices, a lasting partnership
between organization and societies is evident in the previ-
ous study analyses discussing the current issues with CSR
activities (Schaltegger and Wagner 2011). Organizational
performance development through reprocessing, dis-
carded material management, and energy safeguarding are
included in CSR environmental obligations (Ullah et al.
2021). The environmentally friendly nature of the SME
sector suggests better rewards and continuing benefits.
Hence, long-term growth and development, ensuring better
performance in a company, requires enhanced application
of environmental obligation for CSR. The organizational
performance, economic efficiency, employee empower-
ment, organizational integrity, valuation of requirements
of the commercial stakeholders, customer faithfulness,
purchaser assessment, and overall market functioning
are better managed with environmental and social CSR
systems.
The positive relationship between societal enterprise,
shared responsibility, environmental responsibility, and
the SME field is reinforced by the evolution model in
the structure model. Businesses play crucial function
in improving organizational efficiency and encouraging
CSR activities in the whole world, as suggested by earlier
research. CSR-based enterprises establish their image in
our people and enhance the commerce. The absence of
awareness and the interaction among society and busi-
nesses makes it impossible for the owners of SMEs to
publish CSR activities. The subsequent hypotheses of
study are given below:
Hypothesis 1A: There is a direct positive relationship
between the social CSR dimension and firm performance.
Hypothesis 1B: There is a direct positive relationship
between the social CSR dimension of proactiveness and
firm performance.
Hypothesis 1C: There is a direct positive relationship
between the social CSR dimension of risk-taking and
firm performance.
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Environmental Science and Pollution Research (2022) 29:21426–21439
(4) The development of enterprise efficiency, integrity,
and employee contribution is the main focus of SME
departments and CSR companies (Hooi et al. 2016).
Moreover, SMEs and other huge commercial businesses
permit competitive advantages in terms of longstanding
commerce functioning due to characteristics, such as
strength in CSR procedures and advancement in busi-
ness reputation and business functioning. The indica-
tors, such as competitive advantage through occupa-
tions, attention in the business, and commitment to the
organization, are completed by the term “employee
loyalty” which enable a decrease in employee rations
(5)
and an increase in the efficiency of an organization.
Similarly, robust corporate relations are positively
associated with CSR and employees’ engagement, as
shown in the research related to this field. Hence, the
following research hypotheses are developed to meas-
ure shared integrity:
Hypothesis 2A: Ecological CSR and socio-cultural
CSR have a strong link to Pakistan’s SME market.
Hypothesis 2B: Social CSR and corporate image are
considered to have a positive impact on Pakistan’s SME
market.
Hypothesis 2C: Similarly, in Pakistan, the association
among environmental CSR and SME is expected to be
beneficial.
The CSR and employee interactions within the company
are considered authentic and productive. Human resources
are handled and long-term benefits are improved by com-
panies and associations through active CSR operations.
The workers in international businesses are inspired to
achieve their goals and meet full production and results.
The following research hypotheses are developed to meas-
ure staff engagement:
Hypothesis 3A: The relationship between social CSR
and environmental CSR is moderated by employees’
engagement.
Hypothesis 3B: There is a strong link among social
responsibility and employee engagement in Pakistan’s
SME’s industry of Pakistan.
Hypothesis 3C: The relationship between employees’
engagement and environmental CSR is moderated by
collaboration alliance. Firms with higher levels of pro-
activeness more likely to collaborate with other partner
if its short of essential resource. The abovementioned
research served as the foundation for the conceptual
model. This model answers questions about CSR and
its ability to improve performance of SMEs.
Environmental Science and Pollution Research (2022) 29:21426–21439 21431

Table 2  Test for reliability check the variables are evaluated with a suitable method for each
Variable Items Factor loading Reliability
dimension in the Cronbach for the alpha value of CSR near
0.80. Each dimension lacks negative association and the
Firm performance FRP1 0.868 0.963 factors needed to cause alpha value to increase are absent,
FRP2 0.822
as shown in more tests. The main objective of the struc-
FRP3 0.878
FRP4 0.772 tural model is to develop a substantial connection between
FRP5 0.878 various dormant variables (sized) of the model. Among a
FRP6 0.866 sample of six, only for hypotheses (H1a, H1b, H2b, and
Environmental CSR ECSR1 0.814 0.926 H3b) are considered, as shown by the results in Table 3.
ECSR2 0.853
Although H2 and H3 are considered only in some cases,
ECSR3 0.926
three hypotheses show strong and positive association as
Corporate CSR COR1 0.763 0.862
COR2 0.850 shown in Table 3. The CSR in culture and CSR in the
COR3 0.818 surroundings in Pakistani companies encourage positive
Social CSR SC1 0.873 0.850 results in the first hypothesis, which is validated by Kraus
SC2 0.862 et al. (2018). However, the environmental characteristics
SC3 0.782
of CSR are found to be crucial in the findings, for Paki-
Employee commitment CSR EMC1 0.762 0.828
stani companies, whereas employee engagement and cred-
EMC2 0.788
EMC3 0.861 ibility in Pakistani companies are affected positively, only
EMC4 0.724 by environmental CSR, according to hypotheses 2 and 3.
EMC5 0.826 Therefore, the CSR of surroundings is more relevant as
EMC6 0.791
compared to sociatal CSR in employee engagement and
FRP firm performance, SCSR social CSR, ECSR environmental CSR, corporate credibility. The null hypothesis includes the
EMC employee commitment, COR corporate reputation cross-sectional independence, according to the inter cor-
relation test shown in Table 2. Therefore, p-value of the
statistical inferential, lower than the significance level, dis-
Results and discussion misses the null hypothesis. Table 1 displays the p-values of
every CD test pattern inside the nation as 1% applicable.
Table 2 shows the measurement dimension used by this Depending on CD statistical test and one’s successive
analysis (Hooi et al. 2016), and factors, such as validity and p-values, these same p-values of the any CD test pattern
reliability. This method is used to assess the internal accu- in the nation (Table 4) are 1% significant, when no inter-
racy measures’ reliability as well as their convergent validity. dependence just on hypotheses (H0) is rejected. A better
The value of Cronbach’s alpha, more significant than understanding of the government’s variables is possible
0.80 is shown in Table 1, for the importance of the four considering cross-sectional dependency, during the policy
variables, including social CSR, employee engagement, designing process. The ability of CIPS second-generation
financial performance, and company reputation. However, root test unit to provide accurate and reliable results of

Table 3  SEM results for hypothesis testing

Hypothesis H_1a H_1b H_2a H_2b H_3a H_3b

Relationship SC and FRP EMC and FRP SC and COR EMC and COR SC and ECSR EMC and ECSR
Path coefficient 0.270 0.32 0.135 0.27 0.170 0.26
Mean 0.269 0.323 0.133 0.271 0.165 0.260
Standard deviation 0.05 0.081 0.108 0.07 0.113 0.086
T 3.907 4.113 1.808 3.173 1.745 3.035
p 0.002** 0.000*** 0.170 0.004** 0.149 0.002**

***, **, and * denote 1%, 5%, and 10%, respectively

Table 4  Cross-sectional Dimensions ln EP lnIPC lnIPC2 lnEE lnFD lnTO lnHD

dependency test
CD Test 39.49 78.76 81.93 41.33 68.27 17.86 89.26
p-values 0.00025 0.0001 0.003 0.0022 0.0045 0.0058 0.0048

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21432
the cross-sectional association makes it suitable as shown
in Table 4.
CIPS unit root test
The CIPS panel force’s underlying cause testing is called
cruel and non-stationary. The CIPS statistics are measured
to take benefit of the unseen features with designs and con-
stants as can be in Table 5. The unit root test outcomes for
the CIPS unit demonstrate a methodical nationwide incorpo-
ration carbon output, per head of population earnings, envi-
ronmental firm, economic expansion, relationship between
economic growth, and social development. The variables
integrated in the method utilized, as proved by CIPS diag-
nostics, serve as a baseline for the autoregressive distributed
lag (ARDL) estimation technique. A serious marriage with
environmental damage, each head of population economic
levels, enviro businesses, economic boom, able to trade flex-
ibility, and evolution is still most probable. The PMG-ARDL
can be estimated precisely.
Pooled mean group stimulator for estimation
of long‑term partnership
An overview of PMG’s lengthy forecasts in per-capita earn-
ings, the ecologic sector, financing, transfer openness, and
social progress connections throughout Canada is shown
in Table 6. The per-capita coefficients for employment,
economic expansion, and free markets are positive at 1%
statistics, according to the survey, whereas the correlations
are recorded − 1% significance level, for environmental and
human growth. Therefore, Pakistan depends on economic
expansion and free trade, as shown in the results.
Previous research has found that every 1% increase in
income and investing disclosure rises natural habitat carbon
output by 0.113 and 0.236%, in both. For every 1% increase
in human development and environmental firm, emissions
decline from 0.350 to 0.401 simultaneously, as shown in the
results in Table 6. The studies have claimed possibilities and
Table 5  CIPS test for unit root analysis
ln EP ln IPC
Pakistan Cons./trend CIPS − 2.15 − 3.16
F. Diff CIPS − 3.03*** − 3.73***
***, **, and * denote 1%, 5%, and 10%, respectively
Table 6  PMG-ARDL model Variable ln IPC
long-term forecast analysis
Coefficient 2.79***
Problem 0 0
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Environmental Science and Pollution Research (2022) 29:21426–21439
the simplicity of utilizing ecologically important innovations
such as power innovations, giving a boost to this relation-
ship. The ability of climate business owners to reduce con-
tamination wealth means a reduction in use of coal and oil
and other ecological degradation.
A critical sector, in need of an extensive debate and
theoretical participation, is focused in the findings of the
analysis. This paper analyzes developing countries in con-
trast with sustainable development, through environmental
entrepreneurship. The Pasarian CD test examines the pass
consistence of various study factors. As per inter reliance
between society, quality of air in Ancient Silk financial
buckle countries throughout the social security administra-
tion is affected by the environmental worsening and MIC
and LIC panels (Sarango-Lalangui et al. (2018).
The change in pollutant emissions has been ascertained
by their own interactions and another occurrence. As a
result, carbon dioxide removal is achieved while assisting
the sustainable development goals through a variety of pol-
icy objectives, such as instituting and promote green indus-
trious products or results. Furthermore, as demonstrated by
the CIPS root tests, the stationary first order of all inquiry
factors (I) is integrated. Static variables are similarly signifi-
cant and useful in model estimation in regression models.
The astute energy use of the industry is demonstrated in
Fig. 1. Abstract outcomes have been avoided by collaborat-
ing among repaired action scenes which clarify this same
certification underlying cause findings on a world basis
in venture creation, subregional production, and climate
changes. The outline needs to reflect supervisors through-
out USA who collaborate in institutions that greet smaller
companies.
Furthermore, inside an effective questionnaire oriented
by (Ahmad et al., 2021a), he unearthed that energy man-
agement system affiliations had already stretched one’s
created restriction to recognize greater expositions and
greater responsibility for ecosystems linked strategic mis-
sion or even those and something that individuals elimi-
nate following. Sarango-Lalangui et al. (2018) presents a
ln IPC2 ln EE ln FD ln TO ln HD
− 2.33 − 2.59 − 2.89 − 1.99 − 2.15
− 4.63*** − 4.09*** − 3.58*** − 3.81*** − 3.30***
ln IPC2 ln EE ln FD ln TO ln HD ECT
− 0.11*** − 0.27*** 0.14*** 0.21*** − 0.36*** − 0.34***
0 0 0 0 0
Environmental Science and Pollution Research (2022) 29:21426–21439 21433

Fig. 1  Sector-specific energy

15 15
usage (%)

Percentage Change in Energy Consumption (%)

10 10

5
5
0
0
-5
-5
-10
-10
-15

-20 -15

-25 -20
1994-1999 1999-2004 2004-2009 2009-2014 2014-2018
Year

Oil Gas Miscellnious Renewable

model on enhanced EMS estimates, which is experimental, level which indicates that the assessment of the coordinated
reflecting a major influence on the debt settlement of part- management process is compensated by reconciliation
nerships through environment-friendly company condition between goals, assets, and procedures. A relativey higher
participation. than 0.70 value is measured for reliability. Six items are
Rotation method is Varimax with Kaiser normalization. included in the 0.911 value for corporate execution alpha
Table 7 shows the structure conditions display. So at end of of Cronbach, whereas its alpha worker duties are measured
the assessment, the conceptual framework connected to the at 0.879, consisting of three items. Cronbach’s corporate
discovery of the an supplementary connection of a board- reputational alpha is calculated at 0.819, consisting of three
ing house grows influences and have more crucial socially items, as shown in the results, wheras a value of 0.872,
responsible outcome than emergency management non- consisting of three items, is recorded for Cronbach social
adopters that also makes reference to a choice of emergency CSR alpha, and a vlaue of 0.783, consisting of six items, is
management institutions in one’s information systems. Col- recorded for Cronbach’s alpha natural CSR which are shown
laboration between all huge companies, company leaders, in Table 8.
and supervisors is helpful to enhance information manage- Regardless of contradictory speculations, three hypoth-
ment system’s beneficial result. Even though the specialist eses show a remarkable and optimistic relationship in the
forecast involves a cohesive procedure to enforce its con- findings. A maximum efficiency of 0.310 is evident through
flicting views, which would be supposedly regarded as an environmental CSR and company performance, showing a
incorporated senior management system implementation, significant effect on the budgetary output of the environmen-
variables showing effective result of a IMS working as a tal CSR for its positive role, as shown in Table 8. 0.260 coef-
team are often determined in a qualitative and insightful ficients, demonstrating a positive role of environmental CSR
manner. The perception and appraisal of the synchronized in managing the finances of the company, are surprisingly
control system, on the other hand, is indeed a major problem implemented in the second natural CSR company notoriety.
for such affiliation. The different dimensions of energy use, sector-wise is
The IMS level refers to the degree that the organization given in Fig. 2, correcting the long-term deviations. Pakistan
can achieve the purpose of achieving ecological goals utiliz- is working on reducing emissions, pertaining to the lesser
ing organized and autonomous management structure mixed perceived environmental entrepreneurship, which should

Table 7  The results of factor Variables Financial CSR Environ- χ2 Value of Cron- Eigenvalues Level of
analysis of each indicator mental CSR bach alpha significance
(p-value)

FI 0.746 0.790 313.6 0.779 3.896 0

F2 0.722 0.882 106.7 0.754 1.692 0

13
21434 Environmental Science and Pollution Research (2022) 29:21426–21439

Table 8  Factor loading Table 9  PMG outcomes

Variable Items Factor loading Reliability Independent variables Dependent variable: energy
emissions
Financial CSR ROA 0.853
Coef St. error
ROE 0.833
STR 0.883 Per-capita income 8.34*** 1.26
SIZE 0.781 0.956 Environmental business − 0.01* 0.00
TANG 0.869 Financial development 0.42*** 0.01
Environmental Energy use 0.770 Trade openness 12.54*** 1.18
CSR Water use 0.786 Human development − 0.84 0.59
Waste management 0.859
Recycling 0.728 0.822
Emissions 0.830 crucial perspectives are implemented by the regulatory body
EF EOBTP 0.803 apart from reinforcing cooperation between the environmen-
tal protection participants. This process ensures adequate
monetary assistance by promoting sustainable development,
be encouraged at every step of economic development to which preserves international ecological law through emis-
minimize environmental emissions more effectively. This sion reduction and infrastructural facilities re-evaluation.
process encourages sustainable development goals through Company operations are affected by factors, such as prin-
sustainable economic growth. Emission able capital can cipal, peripheral citizens, buyers, vendors, regulatory rules,
be targeted only with complementary policy guidance and and rivals’ affect, whereas warnings, complexity, and leth-
infrastructure. This process aids the reduction of pollution argy are some of the external influences, considered in a
and sustainable development. second perspective. Similarly, the third perspective discusses
The results of our PMG estimate stay consistent with the the external environmental factors, influencing market out-
abovementioned effects on energy emissions as shown in Table 9. put. Although considerable economic and environmentally
The theory presented in Table 10 shows an increase in substantial sound CSR strategy exists in economically prosperous coun-
per-capita incomes and financial efficiency as a result of increas- tries, Pakistan constitutes of 220 million people, living under
ing carbon emissions and the results are supported by the out- poverty. Hence, the responsibility to carry out financial CSR
comes of the alternative requirements in the table above. The as a matter of urgency lies with organizations. Since, the
essential findings are highlighted by regression model. international community is focused on reducing environ-
mental and climatic vulnerabilities, environmental issues are
given top priority in the charters presented during the during
Discussion the Paris Congress.
Unfortunately, to commercial use to fulfill, for example,
The types of public or private entities to follow CSR activi- significant sources of petroleum imported are the gulf region
ties under specific industry framework guidelines are deter- along with the organization of petroleum exporting coun-
mined by the legislative environment of a country. Three tries, Pakistan is dependent on conventional energy sources.

Fig. 2  Sector-wise energy

4.0% 2.8%
consumption
2.0%
2.8%
0.0%
2.8%
-2.0%

-4.0% 2.8%

-6.0% 2.7%
-8.0%
2.7%
-10.0%
2.7%
-12.0%

-14.0% 2.7%

13
 Table 10  The impact of environmental and corporate CSR on firms’ efficiency
Classes Environmental efficiency Economic efficiency
Specific impact of environmental CSR Effect of subtypes of environmental CSR General effect of corporate CSR Effect of subtypes of corporate CSR
Demand-pull Demand push Balanced Demand-pull Demand push Balanced

Dependent variables ln(ECF,t ) ECf ,t ln(ECf ,t ) ln(CCSRf ,t ) CCSRf,t ln(CCSRf ,t )

Methods
Mix of policies − 0.0908*** − 0.0873*** − 1.468*** − 0.0569 − 0.0917*** − 0.430*** 0.137*** 0.132*** 0.411*** 0.208*** 0.106*** 0.127
(0.0337) (0.0268) (0.327) (0.0657) (0.0332) (0.117) (0.0342) (0.0197) (0.0864) (0.0544) (0.0369) (0.135)
Environmental Science and Pollution Research (2022) 29:21426–21439

Constant Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
Financial CSR Yes Yes Yes Yes Yes Yes Yes Yes
Environmental CSR Yes Yes Yes Yes Yes Yes Yes Yes
Corporate CSR Yes Yes Yes Yes Yes Yes Yes Yes
Social CSR Yes Yes Yes Yes Yes
Supporting volunteer Yes Yes Yes Yes Yes Yes Yes
CSR
R2 0.0199 0.024 0.0157 0.024 0.0147 0.044 0.044 0.033 0.044 0.032
Observations (N) 61,990 61,994 63,068 63,785 65,520 50,920 61,447 68,797 67,747 56,897 62,172 53,307
a
*, **, and *** specify statistical importance at the 10%, 5%, and 1% stages, respectively
b
The inflation factor is modified according to all the dependent variables based on 1998
c
Models 3 and 9 are calculated using generalized linear models (GLMs) with gamma distribution and log relation functionality

13
21435
21436
This has affected the industry seriously. CSR operations are
affected greatly by energy shortages.
The lack of a widely recognized sustainability concept
makes it challenging to assess the sustainable business con-
duct, and a number of small and medium-sized businesses use
sustainable development. As compared to large enterprises,
small- and medium-sized enterprises are more focused on sus-
tainable practices, according to researchers. The government
of Pakistan has presented various laws, rules, and regulations
to enable the sustainable growth for businesses. Hence, sus-
tainable companies are possible with a little more effort. It is
a challenge to assess sustainability’s efficiency.
In comparison to SMEs, however, most SMEs lack
appropriate policies and operational procedures, so it is a
significant challenge to assess sustainability’s efficiency.
Sustainability and its implications are discussed in various
documents regarding sustainable entrepreneurship, present
in the existing literature. Nevertheless, it is still challeng-
ing to measure sustainable practices due to lack of suitable
instruments used in evaluating sustainable business prac-
tices and measurement criteria, and measurement processes,
whereas performance metrics are some of the unanswered
issues. Although comprehensive and user-friendly measur-
ing models are unable to incorporate sustainable actions
and sustainability efficiency, organization’s environmental
management is assessed through similar performance met-
rics, presented by researchers. Sustainable development can
be described as the “Development that meets contemporary
needs and does not sacrifice the capacity of future genera-
tions to meet their own needs.” This article connected envi-
ronmentally sensitive entrepreneurship with sustainable
development, taking evidence from developing countries.
Human economic activity to make a living, affecting the
local economy, is the leading cause of environmental degra-
dation. However, efforts to reduce the consumption of envi-
ronmental pollution are made by the people in field of clean
or green technology.
Conclusions and policy implication
Attempting to solve threats to the environment requires a
comprehensive knowledge of the association between both
the environment and economic growth sustainability. Cor-
porate social responsibility efficiency has been extensively
examined both of new tech and sustainable effectiveness. As
just a consequence, start adding, structures, and procedures
to the product or service supply chain to spur innovation.
Innovation and global sustainability have a significant asso-
ciation. To enforce corporate social responsibility rules in
promoting growth process, corporations must use innovative
environment friendly and sustainable technology methods.
The main goals of corporate social responsibility are income
13
Environmental Science and Pollution Research (2022) 29:21426–21439
development, ecological sustainability, and social equity.
Numerous institutions have been implemented to boost
enterprises’ obligations in terms of improving their sus-
tainable economic growth. Small- and medium-sized busi-
nesses are a key cause of innovative products and services.
Interested parties and lawmakers inside the fresh world of
global competition are worried about sustainable growth
and social commitment, and also acknowledging variables
going to drive economic efficiency for small and medium
enterprises. Continuing to improve effectiveness, and also
creative thinking, is needed to motivate small and medium
enterprises to impose corporate social responsibility.
The above study adds to the growing publications inside
a range of methods. The research identified the assessments
theory so each aspect of EO ultimately enhances small and
medium size growth. In comparison to prior studies, the
new research adds to the growing literary works by illus-
trating, so each aspect of EO to interplay to teamwork coali-
tion improves organizational value, although prior literature
neglected the above crucial connection. The research also
brings useful insights into how small and medium enter-
prises could use each aspect of EO (innovativeness = 0.37,
p 0.01 and pro-activeness = 0.21, p 0.01) to alleviate a
few outstanding debt and boost efficiency. Moreover, this
research provides understanding by examining the mediat-
ing effects of partnership coalition on every aspect; men-
tioning that cooperation coalition conversing to EO inno-
vativeness (= 0.34, p 0.01) and proactiveness (= 0.29, p
0.05) can contribute to enhanced organizational value. Like
a consequence, this finding adds a few additional insight
and important details to research in this area for public and
industry practitioners. The existing original study findings
highlight the importance for business executives and small
and medium-sized supervisors. To start, this highly antici-
pated which evenly tries to implement EO parameters is
ineffective for maximizing the value. Foremost, the research
results give a strong moderation of creativity and ingenu-
ity and pro-activeness with teamwork alliances. Small and
medium enterprises ought to be conscious that about their
collaborators, they must not utilize individuals in enhanc-
ing research and development efforts, innovation, and pro-
duction facilities in effort to accomplish goal sales volume.
Eventually, we evaluate the strong partnership that used a
PMG ARDL forecasting model. As per our findings, a 1
percentage boost in per-capita earnings at quite a provided
sense of financial expansion throughout 2.88, 4.54, and
2.48% decreases in carbon footprints. The significance of
business expansion in inflaming land pollution illustrates. It
is necessary for governments to work with business units to
develop environmentally sustainable products, environmen-
tally aware enterprises, and sustainable environmental plans.
Economic entities can design numerous loaning specifica-
tions for lines of credit, such as adequate collateral, with the
Environmental Science and Pollution Research (2022) 29:21426–21439
help of policy reformers. It should also be able to evaluate
and track this same duty of green shareholders to make sure
that their own businesses adhere to the goals of sustainable
development. Due to the obvious high percentage of high
illiteracy throughout most nations, low elements of social
production and environmental issues have amplified even as
region grows. To that end, the current regime should begin
trying to educate and inspiring the general population to
think about the future of global warming and other signifi-
cant ecological worries. Participants must develop business
education laws and focus on eco-friendly products. Officials
must inform the public about using resource goods by organ-
izing seminars and displays; these nutrients are much more
effective than coal and oil in generating power.
Policy implications
Decision-makers must recognize the importance of trade lib-
eralization in an era when carbon emissions are widely men-
tioned as the primary cause of earth’s atmosphere deteriora-
tion and rising temperatures. Lawmakers should encourage
digitalization spread because renewable energy across the
country seems to be insufficient for managing environmen-
tal problems and making possible consistent future growth.
As the climate is changing at faster speed, environmen-
tal degradation is also happening with same speed so there
should be equilibrium among environmental control and
changes in the economy. The transfer of advance technolo-
gies which are helpful to remove the issue of environmental
degradation must be viable among countries. Within the
countries and internationally carbon control, the system of
taxation upon carbon should be launched to make possible
the regulation of businesses which are not working to com-
bat the carbon emission in the environment. The main goal
is to achieve the consistent growth.
In place of more climatic, global, and technological ele-
ments, such as budgetary concerns, a lack of available
resources, and a reduction in dependence on fuel usage, we
suggest to minimize the environmental impact in Pakistan
through concentrating on enterprise dimensions such as energy
efficiency, quality enhancement, and enhancing economic
output. In Pakistan, it can only be because these items are
challenging to attain on a basic level. Individuals who con-
sume contaminated goods which damage the environment
seem to be more totally unaware, unidentified, and far less
idealist. With us, recent proposal would help to modify the
society’s intent and attitude on to using environment-friendly
products from household sustainable entrepreneurships. As a
consequence, a cautious role for entrepreneurial sharehold-
ers should be executed in order to convert the pretty standard
specific individual buying and consumption patterns, includ-
ing such addictive behavior and tendency. Current researches
in Pakistan’s emerging market to include a substitute way to
21437
minimize environmental emissions by depending on tradi-
tional and costly intervention will indeed be first dust mote. To
deadline, this same natural community and emissions variables
have received fewer attention of policymakers. It has identified
just few public-sector shoulders which endorse the findings
of our research to minimize environmental emissions. The
chief factor seems to be, in specific, the less productive and
inventive role of democratic rulers and government officials.
Nevertheless, we suggest that its city authority be provided a
futuristic stance to aid entrepreneurship, with the assistance
of a specific element like security exchange commission of
Pakistan (SECP) and business forums to take out companies
utilizing environmentally friendly commodities.
Researchers suggest here to the government of Pakistan that
now the business community fully promotes the environmental
hazard and also that the device establishes a comprehensive course
of attack for reducing emissions via wealth creation. The nation-
wide efforts of entrepreneurial enterprises will then be advanced
in meeting the desired objectives through effective applications of
entrepreneurship. We furthermore strongly advise that entrepre-
neurial organizations ensure ecofriendly practices, and that com-
modities be recorded, to contain records only with co-operation of
these projects in order to encourage an eco-friendly society. Now
with energetic support of these innovation components’ trainings,
sessions, discussions, and web conferencing could be kept to boost
audience attitudes of ecologically sustainable techniques and take
the proper advantage of entrepreneurship forums, to meet the goal
of having to clean up the region via entrepreneurship.
Author contribution Zafran Ahmad: conceptualization; data curation;
methodology; writing—original draft; data curation. Liu Chao: visuali-
zation, supervision. Wang Chao: visualization, editing. Wasim Iqbal:
review and editing. Shujaat Ahmed, Sulaman Muhammad: writing—
review and editing; and software.
Funding Financial support was provided in part by National Natural
Science Foundation of China (62073007, 72071006 and 61773029).
Availability of data and materials The data can be available on request.
Declarations
Ethical approval and consent to participate We declare that we have
no human participants, human data, or human tissues.
Consent for publication N/A
Competing interests The authors declare no competing interests.
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