“…When analyzing the factors that drive eco-innovation, one of the most important factors considered is environmental regulations [30][31][32][33]. In Europe, for example, it has been a determining factor for the development of industries that manage natural resources [34]; previously, they were considered an imposition for companies, but the thinking has changed and today they are considered favorable when innovating, since they help companies to identify efficiency failures in their processes and are used as a tool to reduce default and production costs, improving competitiveness [35,36]. The companies discovered that by investing financially in eco-innovation activities, their competitive advantage also increased [37,38], bringing benefits such as cost savings, improved corporate image, marketing advantages, sustainable growth in the environment, and creation of new markets [13,14].…”