Sustainable futures: Toward institutionalizing green industrial policy

Abstract Although there have been substantial accomplishments in understanding environmental sustainability policy, there remains a paucity of research categorizing the mechanisms through which firm ownership architectures can be harnessed to advance green industrial policy (GIP). The purpose of this study is to examine how different types of ownership structures can be utilized as mechanisms for capitalizing on and championing GIP. By integrating the fragmented streams of research, this study advances a four‐cell typology of GIP‐firm ownership dimensions (privately‐owned enterprises (POEs)/state‐owned enterprises (SOEs) × intra‐country/inter‐country GIP), which sheds much‐needed light on the long‐term energy transition (ETs) pathway through institutional and industrial challenges. The analysis further enhances researchers' understanding of leveraging SOEs and POEs to neutralize uncertainties inherent in scaling up renewables and addressing the “pollution haven hypothesis.” Directions for future research pertaining to ETs are outlined.