The creative response of energy-intensive industries to the Emissions Trading System in the European Union
Entity
UAM. Departamento de Estructura Económica y Economía del DesarrolloPublisher
ElsevierDate
2022-09-01Citation
10.1016/j.jclepro.2022.133700
Journal of Cleaner Production 373 (2022): 133700
ISSN
0959-6526 (print)DOI
10.1016/j.jclepro.2022.133700Editor's Version
https://doi.org/10.1016/j.jclepro.2022.133700Subjects
Community innovation survey; Eco-innovation; European union; Low-carbon technologies; EconomíaRights
© 2022 The AuthorsAbstract
There is a broad consensus on the contribution of the so-called eco-innovations to the sustainability transition of economic activity and on the power of policy instruments to redirect innovation towards solving environmental challenges over time. However, despite remarkable academic efforts in this direction, there is a shortage of studies empirically analysing the link between environmental policy and innovation activities. Using firm-level data gathered from the Community Innovation Surveys of two specific years, 2008 and 2014, from eleven European countries, we apply a difference-in-difference approach to provide a clear-cut test of the effects of Phase III of the EU's Emissions Trading System on low-carbon innovations of energy-intensive firms. Our results suggest that environmental policy may affect firms' environmental performance by improving eco-innovating efforts. In fact, the new environmental policy not only induced an adaptive response, in which firms adjust their level of emissions to this new cost scheme, it also induced a creative response, leading companies to move outside of the range of their existing practices
Files in this item
Google Scholar:Lucena Giraldo, Javier
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Rodríguez Crespo, Ernesto
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Salazar Elena, Juan Carlos
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