GREEN INVESTMENT: HOW SUSTAINABILITY STRATEGIES TRANSFORM RISK INTO LONG-TERM RETURNS
DOI:
https://doi.org/10.15575/jb.v5i2.60344Keywords:
Green Investment, Sustainability Strategies, ESG Risks, Textile Industry, Cimahi City.Abstract
This study examines green investment as a strategic corporate instrument for mitigating environmental, social, and governance (ESG) risks and transforming them into long-term financial returns. Amid tightening global climate regulations and local environmental law enforcement associated with the restoration of the Citarum River Basin, the garment and textile industries in Cimahi City face substantial transition and reputational risks. The study adopts a qualitative approach with a descriptive-analytical case study design. Data were collected through in-depth interviews with key stakeholders, including corporate sustainability managers, representatives of local textile associations, and regulators from the Cimahi City Environmental Agency, supported by content analysis of sustainability reports and relevant regulatory documents. Thematic analysis was used to identify internal and external mechanisms through which risks are converted into economic value. The findings indicate that the modernization of green technologies, such as Zero Liquid Discharge (ZLD) systems, energy-efficient dyeing machines, and boiler fuel conversion can mitigate legal risks and financial penalties while substantially reducing utility costs through on-site water recycling of up to 60%. Externally, authentic ESG commitments and the adoption of green material certifications serve as a green passport for maintaining a position in the supply chains of global fashion brands and facilitating access to green financing schemes with a lower cost of capital.
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