The creative response of energy-intensive industries to the Emissions Trading System in the European Union

Lucena-Giraldo, Javier; Rodríguez‐Crespo, Ernesto; Salazar-Elena, Juan Carlos

doi:10.1016/j.jclepro.2022.133700

Cited by 11 publications

(6 citation statements)

References 56 publications

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“…While Hille and Oelker (2023) and Lu and Zhang (2022) offered evidence of the positive impacts of quotas on RE innovation, Clancy and Moschini (2018), Hille et al (2020), and Nicolli and Vona (2016) found that this impact is insignificant. Regarding the influence of emission trading systems on RE innovation, existing research indicates that these systems stimulate RE innovation (Cai & Ye, 2022; Calel, 2020; Lucena‐Giraldo et al, 2022; Qi et al, 2021; Yao et al, 2021). Nevertheless, the work by Calel and Dechezleprêtre (2016) revealed that this positive impact is specific to regulated firms and hence not universally applicable to all firms.…”

Section: Discussionmentioning

confidence: 99%

“…On the other hand, other studies, including those by Calel (2020), Qi et al (2021), Yao et al (2021), Lucena‐Giraldo et al (2022), and Cai and Ye (2022), demonstrated the innovation‐inducing effect of emission trading policies. Calel (2020) found that the EU ETS encouraged low‐carbon innovation, including RE, by increasing low‐carbon patenting and R&D spending.…”

Section: Individual‐policy Levelmentioning

confidence: 94%

“…In a study conducted by Lucena‐Giraldo et al (2022), the focus was on the EU ETS, and the researchers explored whether the effectiveness of different temporal phases of the EU ETS had a significant impact. To assess the firm's response to green policies and its effect on green innovation, the authors applied the Schumpeterian “creative response” framework.…”

Section: Individual‐policy Levelmentioning

confidence: 99%

“…To assess the firm's response to green policies and its effect on green innovation, the authors applied the Schumpeterian “creative response” framework. This creative response involves implementing novel approaches to conduct business (Lucena‐Giraldo et al, 2022). Their findings indicated that the creative response to the EU ETS, particularly in the context of environmental innovation, was observed in firms that operate in energy‐intensive industries.…”

Section: Individual‐policy Levelmentioning

confidence: 99%

“…To assess the firm's response to green policies and its effect on green innovation, the authors applied the Schumpeterian "creative response" framework. This creative response involves implementing novel approaches to conduct business (Lucena-Giraldo et al, 2022).…”

Section: Emissions Tradingmentioning

confidence: 99%

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The impact of environmental policy on renewable energy innovation: A systematic literature review and research directions

Rastegar,

Eweje,

Sajjad

2024

Sustainable Development

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Renewable energy innovations are imperative to tackle the climate change crisis. However, there is a gap in the literature regarding the effectiveness of environmental policies in promoting renewable energy innovations. To bridge this gap, we have adopted a systematic literature review process covering the period from 2005 to 2023. We identified and analysed 29 articles in our final sample. Further, we employ two levels of analysis (individual‐policy and policy‐mix levels) for analysing the extant research. Our findings show that fiscal incentives and emissions trading policies such as the European Union (EU) Emissions Trading System (ETS) consistently promote renewable energy innovations. In contrast, the effectiveness of feed‐in tariffs and quotas in supporting renewable energy innovations varies, reflecting diverse impacts across distinct regions and renewable energy technologies. Our analysis also suggests that combinations of various policy types can enhance innovation more effectively than individual policies. We contribute to the extant literature by developing a classificatory analysis of the effect of environmental policies on renewable energy innovations. Our review also provides research directions for future scholarship.

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