The Impact Factors of Industry 4.0 on ESG in the Energy Sector

Digital transformation refers to highly thought-out social, manufacturing, and organizational transitions driven by digital revolutions and emerging technologies. On the other hand, energy is a critical pillar of the economic growth of the country. Meanwhile, global interest in environmental, social...

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Main Author: Nitlarp T.
Other Authors: Mahidol University
Format: Article
Published: 2023
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Online Access:https://repository.li.mahidol.ac.th/handle/123456789/84267
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spelling th-mahidol.842672023-06-19T00:01:36Z The Impact Factors of Industry 4.0 on ESG in the Energy Sector Nitlarp T. Mahidol University Computer Science Digital transformation refers to highly thought-out social, manufacturing, and organizational transitions driven by digital revolutions and emerging technologies. On the other hand, energy is a critical pillar of the economic growth of the country. Meanwhile, global interest in environmental, social, and governance (ESG) investment is growing. The conventional investment paradigm is being phased out in favor of investments that prioritize environmental, social, and corporate responsibility. The energy sector is one of the most significantly affected. Presently, the field of digital transformation is limited in its analysis about the sustainability factors and is still controversial, especially in the energy business. This paper identifies an in-corporation factor in Industry 4.0, taking into account the effect on ESG. The research papers and the World Economic Forum reports were investigated and identified the correlation factor using machine learning to analyze their contents. We spotlighted the documents relevant to the energy industry and sustainable development. To quantify the model, confirmatory factor analysis (CFA) is proposed to generate a valid model, followed by path analysis with latent variables to evaluate the structural equation modeling (SEM). The result provides the conceptual model with impact factors and their correlations. The goodness of fit value is acceptable for the agreed-upon condition, as well as a descriptive that incorporates Industry 4.0 and ESG in terms of business, industry, and ESG in relation to the energy sector’s key issues. 2023-06-18T17:01:36Z 2023-06-18T17:01:36Z 2022-08-01 Article Sustainability (Switzerland) Vol.14 No.15 (2022) 10.3390/su14159198 20711050 2-s2.0-85137195440 https://repository.li.mahidol.ac.th/handle/123456789/84267 SCOPUS
institution Mahidol University
building Mahidol University Library
continent Asia
country Thailand
Thailand
content_provider Mahidol University Library
collection Mahidol University Institutional Repository
topic Computer Science
spellingShingle Computer Science
Nitlarp T.
The Impact Factors of Industry 4.0 on ESG in the Energy Sector
description Digital transformation refers to highly thought-out social, manufacturing, and organizational transitions driven by digital revolutions and emerging technologies. On the other hand, energy is a critical pillar of the economic growth of the country. Meanwhile, global interest in environmental, social, and governance (ESG) investment is growing. The conventional investment paradigm is being phased out in favor of investments that prioritize environmental, social, and corporate responsibility. The energy sector is one of the most significantly affected. Presently, the field of digital transformation is limited in its analysis about the sustainability factors and is still controversial, especially in the energy business. This paper identifies an in-corporation factor in Industry 4.0, taking into account the effect on ESG. The research papers and the World Economic Forum reports were investigated and identified the correlation factor using machine learning to analyze their contents. We spotlighted the documents relevant to the energy industry and sustainable development. To quantify the model, confirmatory factor analysis (CFA) is proposed to generate a valid model, followed by path analysis with latent variables to evaluate the structural equation modeling (SEM). The result provides the conceptual model with impact factors and their correlations. The goodness of fit value is acceptable for the agreed-upon condition, as well as a descriptive that incorporates Industry 4.0 and ESG in terms of business, industry, and ESG in relation to the energy sector’s key issues.
author2 Mahidol University
author_facet Mahidol University
Nitlarp T.
format Article
author Nitlarp T.
author_sort Nitlarp T.
title The Impact Factors of Industry 4.0 on ESG in the Energy Sector
title_short The Impact Factors of Industry 4.0 on ESG in the Energy Sector
title_full The Impact Factors of Industry 4.0 on ESG in the Energy Sector
title_fullStr The Impact Factors of Industry 4.0 on ESG in the Energy Sector
title_full_unstemmed The Impact Factors of Industry 4.0 on ESG in the Energy Sector
title_sort impact factors of industry 4.0 on esg in the energy sector
publishDate 2023
url https://repository.li.mahidol.ac.th/handle/123456789/84267
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