Corporate Venture Capital as a Way of Investing in Sustainable Development Projects by Fuel and Energy Companies

Abstract

The research aims to analyze the portfolios of venture corporate funds of fuel and energy companies and evaluate their effectiveness as a strategy for financing sustainable development projects. The research methodology consisted of synthesis, comparative analysis, classification, and statistical and mathematical methods. The authors identified the main types of sustainable startups funded through corporate venture funds of fuel and energy companies and the statistical significance of the differences between the average values of the ESG rating and the environmental, social, and governmental scores of companies using corporate venture funds and those that do not. The conclusions obtained on the positive impact of corporate venture funds on ESG scores and the effectiveness of environmental performance of energy companies have theoretical significance for further research and development of econometric models. Additionally, the results have practical applications for the management of energy organizations in developing a strategy for financing ESG projects and choosing investment tools.