Benchmarking of circular economy behaviors for Iraqi energy companies based on engagement modes with green technology and environmental, social, and governance rating

Greenhouse gas emissions and global warming are recent issues of upward trend. This study sought to underline the causal relationships between engagement modes with green technology, environmental, social, and governance (ESG) ratio, and circular economy. Our investigation also captured benchmarking of energy companies' circular economy behaviors. A hybrid-stage partial least squares structural equation modeling (PLS-SEM) and multi-criteria decision-making (MCDM) analysis have been adopted. This study collected 713 questionnaires from heads of departments and managers of energy companies. The findings of this study claimed that engagement modes with green technology affect the circular economy and sustainability. The findings revealed that ESG ratings have a mediating role in the nexus among engagement modes with green technology and circular economy. The results of the MCDM application revealed the identification of the best and worst energy companies of circular economy behaviours. This study is exceptional because it is among the first to address the issues of greenhouse gas emissions by providing decisive evidence about the level of circular economy behaviors in energy companies. © 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.

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