Establishing the relationship between the strategic factors influencing blockchain technology deployment for achieving SDG and ESG objectives during infrastructure development: an ISM-MICMAC approach

Abstract

PurposeImplementing blockchain in sustainable development goals (SDGs) and environmental, social and governance (ESG)-aligned infrastructure development involves intricate strategic factors. Despite technological advancements, a significant research gap persists, particularly in emerging economies. This study aims to address the challenges related to SDGs and ESG objectives during infrastructure delivery remain problematic, identifying and evaluating critical strategic factors for successful blockchain implementation.Design/methodology/approachThis study employs a three-stage methodology. Initially, 13 strategic factors are identified through a literature review and validated by conducting semi-structured interviews with six experts. In the second stage, the data were collected from nine additional experts. In the final stage, the collected data undergoes analysis using interpretive structural modeling (ISM)–cross-impact matrix multiplication applied to classification (MICMAC), aiming to identify and evaluate the independent and dependent powers of strategic factors driving blockchain implementation in infrastructure development for SDGs and ESG objectives.FindingsThe study’s findings highlight three significant independent factors crucial for successfully integrating blockchain technology (BT) into infrastructure development for SDGs and ESG goals: data security (F4), identity management (F8) and supply chain management (F7). The study unravels these factors, hierarchical relationships and dependencies by applying the MICMAC and ISM techniques, emphasizing their interconnectedness.Originality/valueThis study highlights critical strategic factors for successful blockchain integration in SDG and ESG-aligned infrastructure development, offering insights for policymakers and practitioners while emphasizing the importance of training and infrastructure support in advancing sustainable practices.

Editorial: Innovation and lean practices for sustainable construction project management; emerging technologies, strategies and challenges

“…Singh and Kumar (2024) examine strategic factors affecting blockchain technology’s role in sustainable development goals (SDGs) and environmental, social and governance (ESG) principles within infrastructure projects, especially in emerging economies. Employing a three-stage methodology – initial identification of 13 strategic factors via literature review and expert interviews, further data collection from nine experts and analysis through interpretive structural modeling (ISM) and cross-impact matrix multiplication (MICMAC) – the study pinpoints three critical, independent factors for effective blockchain adoption: data security, identity management and supply chain management.…”

“…Employing a three-stage methodology – initial identification of 13 strategic factors via literature review and expert interviews, further data collection from nine experts and analysis through interpretive structural modeling (ISM) and cross-impact matrix multiplication (MICMAC) – the study pinpoints three critical, independent factors for effective blockchain adoption: data security, identity management and supply chain management. Applying ISM and MICMAC, Singh and Kumar (2024) highlight these factors' hierarchical interplay and dependencies, emphasizing their importance for blockchain implementation in SDG and ESG-focused infrastructure efforts.…”