The creative response of energy-intensive industries to the Emissions Trading System in the European Union
EntityUAM. Departamento de Estructura Económica y Economía del Desarrollo
10.1016/j.jclepro.2022.133700Journal of Cleaner Production 373 (2022): 133700
SubjectsCommunity innovation survey; Eco-innovation; European union; Low-carbon technologies; Economía
Rights© 2022 The Authors
Esta obra está bajo una Licencia Creative Commons Atribución 4.0 Internacional.
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
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Google Scholar:Lucena Giraldo, Javier - Rodríguez Crespo, Ernesto - Salazar Elena, Juan Carlos
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