Market-Based Instruments to Promote Energy Efficiency: Insights from the Italian Case

Foggia, Giacomo Di; Beccarello, Massimo; Borgarello, Marco; Bazzocchi, Francesca; Moscarelli, Stefano

doi:10.3390/en15207574

Cited by 17 publications

(10 citation statements)

References 43 publications

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“…In this case, there is an inverse relation between the importance of short payback time expectations and EE activities. This result also confirms the importance of public incentives to boost EE investments, as identified in existing research (Di Foggia et al, 2022).…”

Section: Resultssupporting

confidence: 87%

The Role of Knowledge Development in Manufacturing Sustainability

Beccarello¹,

Foggia²

2023

JSD

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The propensity of industrial firms to build sustainability strategies based on knowledge development is an incentive for strategies driven by environmental, social, and economic criteria. However, although firms are increasingly committed to sustainability, poor engagement may lead to strategic drifts. Energy efficiency is one of the most important targets in industrial firms for reducing emissions primarily generated directly by the firm—emissions that are created by generating electricity or heat needed by firms. We focus on energy efficiency, which—along with technological advancement—is the most critical factor in industrial decarbonization and is a pathway for improving economic competitiveness and sustainability. Advances in technological innovation and stakeholders’ requirements provide a range of reasons for achieving environmental benefits. In our view, the outcomes of environmental strategies are influenced by the commitment of firms to sustainable business and their propensity for R&D. Our results show that 44.1% of firms claim to have an investment plan for energy efficiency. This percentage rises to 65% for firms investing more than 4% of their turnover in R&D. A similar trend can be noticed for investments in environmental, social, and governance (ESG) topics, in which 83.3% of the firms claim to have an investment plan of 4% of their turnover. We argue that ESG strategies require competencies and capability building among employees to be successful; otherwise, the risk of strategic drifts increases.

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Section: Resultssupporting

confidence: 87%

The Role of Knowledge Development in Manufacturing Sustainability

Beccarello¹,

Foggia²

2023

JSD

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“…The lack of harmonization with other climate policies at the national and regional levels, which can lead to overlapping regulations and inefficiencies, is also a challenge for the ETS [38]. The overall effectiveness of the ETS and a more comprehensive approach to tackling emissions can be improved by coordinating it with other climate policies [39].…”

Section: Introductionmentioning

confidence: 99%

Emissions trading system: bridging the gap between environmental targets and fair competition

Beccarello,

Di Foggia

2023

Environ. Res. Commun.

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The effectiveness of the European Emissions Trading System in supporting a level playing field while reducing total emissions is tested. While data show a robust impact on the environment as a steady decrease in carbon emissions is observed, it is reported that its ability to internalize emission costs may improve to better address the import of extra European generated emissions that negatively impact the economy when not properly accounted for. Analyzing data in six European countries between 2016 and 2020, the results suggest competitive advantages for industries with higher extra-European imports of inputs that result in biased production costs that, in turn, alter competitive positioning. The novelty lies in focusing on the threats to fair competition within Europe along with the well-known carbon leakage risk widely investigated by previous literature. Complementary policy tools capable of internalizing emission costs, regardless of their origin, are necessary to improve the healthy functioning of the system. In this regard, carbon taxation may outperform carbon border adjustment, as it is based on consumption patterns. Our results can aid policymakers in designing impact analyses aimed at limiting potential distortions to Europe's level playing field.

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“…In light of commitments to meet the UN 2030 agenda for sustainable development and policies aimed at mitigating climate change, the implementation of more EE interventions in buildings, tertiary, transport, and industrial sectors requires sound information regarding drivers and barriers of EE investments (Di Foggia, Beccarello, Borgarello, Bazzocchi, & Moscarelli, 2022).…”

Section: Introductionmentioning

confidence: 99%

The Strategic Role of Energy Efficiency and Industry 4.0 Interventions in Manufacturing

Beccarello¹,

Foggia²

2023

JMS

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Energy efficiency measures and Industry 4.0 investments are prominent drivers of business competitiveness and sustainability, working toward sustainable development goals and decarbonization commitments. We analyzed data from a survey of 239 Italian manufacturing firms conducted in 2021. The survey was designed to identify drivers of energy efficiency measures and Industry 4.0 measures, as well as barriers to their implementation. We also examined interventions on key business variables such as business model sustainability, corporate social responsibility, business economics, public image, reputation, and market positioning. Energy efficiency intervention drivers are correlated with sustainable corporate social responsibility and cost reduction, whereas Industry 4.0 intervention drivers are associated with production optimization variables. Prominent barriers to energy efficiency interventions relate to economic feasibility, regulatory uncertainty, and financial issues. Similarly, key barriers to Industry 4.0 interventions are economic feasibility, enabling infrastructures, and regulatory uncertainty. The implication of energy efficiency measures and Industry 4.0 investments are discussed to pave the way for complementarity, overlap, and contrasting effects of measures. The paper has business implications given that it benefits decision-makers to reduce the risk of strategic drift and increases the probability of meeting sustainable development goals and decarbonization targets of Sustainable Development Goal 11.

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Market-Based Instruments to Promote Energy Efficiency: Insights from the Italian Case

Cited by 17 publications

References 43 publications

The Role of Knowledge Development in Manufacturing Sustainability

The Role of Knowledge Development in Manufacturing Sustainability

Emissions trading system: bridging the gap between environmental targets and fair competition

The Strategic Role of Energy Efficiency and Industry 4.0 Interventions in Manufacturing

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