An Analysis of Investment Factors for Achieving Carbon Neutrality in the Logistics Industry

Purpose – This study analyzes how corporate investment, research and development (R&D), intangible assets, and corporate governance, affect greenhouse gas emissions and energy consumption in the logistics and distribution industries from an Environmental, Social, and Corporate Responsibility perspective. Design/Methodology – Multiple regression analysis examines factors influencing greenhouse gas emissions and energy consumption in logistics and distribution firms. Key independent variables include facility assets, R&D, intangible assets, industrial property rights, and corporate governance. Firm size is controlled using sales revenue. Dependent variables include absolute levels, growth rates, and size-adjusted measures of greenhouse gas emissions and energy consumption. Findings – Firms with larger facility assets generally exhibit higher pollutant emissions. Increased investments in R&D and industrial property rights are associated with higher pollutant emissions, likely due to expanded freight-handling capacity. A higher proportion of intangible assets reduces pollutant emissions. Streamlining processes and optimizing routes can mitigate environmental impacts. Firms with greater ownership by major shareholders and foreign investors demonstrate stronger environmental responsibility, while higher debt ratio is associated with reduced investments in R&D and intangible assets. Environmentally efficient firms with lower emissions relative to energy consumption demonstrate superior financial performance. Originality/value – This is South Korea’s first empirical study on how facility investment, R&D, intangible assets, and corporate governance influence environmental outcomes in the logistics and distribution industry. Unlike previous studies, this study uses actual greenhouse gas and energy consumption data for a performance-based analysis of corporate investments. The findings guide corporate environmental investment and inform government policies promoting eco-friendly logistics.