Journal of Innovation in Business and Economics
Vol. 9 No. 01 (2025): Journal of Innovation in Business and Economics

How does green innovation enhance business sustainability? Systematic review and case study at PT PLN Indonesia Power UBP Suralaya

Reinardus Dwi Prio Christianto (Management Science, Doctoral Program, Universitas Teknologi Yogyakarta, Indonesia
Knowledge Management and Innovation, Engineering Division, PT PLN Indonesia Power UBP Suralaya, Indonesia)

Nur Wening (Postgraduate Program, Universitas Teknologi Yogyakarta, Indonesia)
Rian Oktafiani (Information Systems, Faculty of Science and Visual Communication, Universitas Cendikia Mitra Indonesia, Indonesia)
Ade Setiawan (Faculty of Islamic Economics and Business, State Islamic University of Raden Mas Said Surakarta, Indonesia)
Han Purnomo (Management Science, Doctoral Program, Universitas Teknologi Yogyakarta, Indonesia)
Nuviah Herawati (Departement of Management, STIE Pariwisata API Yogyakarta, Indonesia)



Article Info

Publish Date
18 Feb 2025

Abstract

Green innovation (GI) plays a crucial role in business sustainability, particularly in the energy sector, as companies seek to balance environmental responsibility with economic viability. This study explores the impact of GI by integrating a systematic literature review with a case study of PT PLN Indonesia Power UBP Suralaya. Using a qualitative approach, the research combines Natural Language Processing (NLP) and Large Language Models (LLM) to analyze text data and identify key themes in green innovation. A meta-analysis of 26 Scopus-indexed documents was conducted to extract insights, which were then classified into clusters using LLM-based text analysis. The findings highlight that green innovation is shaped by three key factors: internal company dynamics (leadership, technology, and financial capital), external influences (government regulations and market demand), and academic research. To accelerate GI adoption, energy companies like PLN must take proactive measures, including: 1) strengthening strategic leadership with a well-defined Net Zero roadmap; 2) increasing investment in renewable technologies such as solar, wind, and smart grids; and 3) restructuring business models to incorporate Green Financing mechanisms. Without a fundamental transformation, GI efforts risk being confined to incremental improvements rather than leading to substantial progress in sustainability.

Copyrights © 2025






Journal Info

Abbrev

jibe

Publisher

Subject

Economics, Econometrics & Finance

Description

The Journal of Innovation in Business and Economics (JIBE) is published by the Department of Economics and Business at University of Muhammadiyah Malang in 2017. Previously this journal was known as Jurnal Media Ekonomi that was initially published in 2000. In 2011 until 2016, this journal was ...