Board gender diversity and renewable energy consumption: evidence from G20 countries

Purpose The purpose of the study is to examine the impact of board gender diversity (BGD) on renewable energy consumption in firms across G20 countries. Design/methodology/approach Firm-level data are collected from the LSEG database, and country-level data from the World Bank, World Governance Indicators and the World Factbook. The sample size includes firms from 18 G20 countries from 2010 to 2022. Findings The findings demonstrate that BGD has a positive impact on renewable energy consumption in firms located in G20 countries. This finding is more significant in developed countries compared to emerging countries because of stronger governance frameworks and for firms located in civil law countries compared to common law countries, because of civil law countries emphasizing governance frameworks that emphasize stakeholder interests and long-term environmental objectives. Research limitations/implications The study presents significant policy implications, promoting greater female board representation to improve corporate environmental sustainability. The study covers only G20 countries; it could have been extended to more countries globally and in recent times. Practical implications The findings of the study highlight the growing need to address climate change, where more representation of females on boards will play a vital role in firms’ transition to renewable energy. Social implications Inclusion of more female members on the board will help attain sustainability of the firms, using clean energy, which will help attain the sustainable development goals and will have benefits to the firm’s internal and external environments. Originality/value The study contributes to the growing need of firms to address climate change in the current climatic turmoil situation. This study addresses the role of firms located in G20 nations in addressing climate change, as these contribute a major portion of economic growth to the world GDP and are also the highest contributors to world emissions.