EFFECT OF ENERGY EFFICIENCY INITIATIVES ON PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
- Dr. Omokehinde Joshua Odutola
- Mountain Top University Accounting July, 2024
- 87p
The study examined the effect of energy efficiency initiatives on listed deposit money bank performance in Nigeria. The independent variables were solar energy, LED lighting upgrades,smart thermostats and Energy Star appliances and the dependent variable was return on total assets which was used as the financial performance metric. The research design adopted was the descriptive research design. The researcher made use of survey research design which was sourced from questionnaires that were administered to 10 listed deposit money banks in Nigeria out of the 23 listed deposit money banks in Nigeria. Simple linear regression analysis was used to analyze the data. Findings from the study revealed that solar energy has a significant effect on return on total assets of listed deposit money banks in Nigeria with a p-value of .000, LED lighting upgrade has a significant effect on return of total assets of listed deposit money banks in Nigeria with a p-value of .001, smart thermostat technology has a significant effect on return of total assets of listed deposit money banks in Nigeria with a p-value of .002, and energy star appliances has a significant effect on return of total assets of listed deposit money banks in Nigeria with a p-value of .009. The results and the findings imply that energy efficiency initiatives have a significant effect on the return of total assets of listed deposit money banks in Nigeria. The study concludes that energy efficiency initiatives have a significant effect on the return of total assets of Listed deposit money banks of Nigeria. The study recommends that listed deposit money banks in Nigeria should adopt more energy efficiency initiatives to reduce cost, increase profitability, increase operational performance, and improve environmental sustainability KEYWORDS: Energy Efficiency Initiatives, Return on Total Assets, LED Lighting Upgrades, Energy Star Appliances, and Smart Thermostat.