Abstract
This paper analyses the interaction of the novel emissions trading directive of the European Union with energy management strategies of European firms and the empirical determinants of corporate energy management activities related to these. After a brief introduction, three generic corporate energy management strategies to address climate change are introduced and discussed. This also takes into account the ‘‘embeddedness’’ of energy management in environmental management systems, which may lead to a policy interaction with the emissions trading directive. The determinants of specific energy management activities linked to the different corporate energy management strategies are subsequently analysed empirically. It is found that especially implementation of environmental management systems has a very positive effect on activities. The paper concludes by discussing the implications of this for the European Union’s emissions trading directive and the interaction of the different empirical determinants for activities and strategies with climate policy initiatives on firms in Europe. In particular, the findings confirm that fostering environmental management systems which achieve emission reductions and the emissions trading directive lead to interaction that increases the allocative efficiency of a system using both environmental policy instruments over one which only uses one of them, i.e. that favourable policy interaction is possible. JEL classification: L19, Q01, Q48
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Antes R, Hansjürgens B, Letmathe, P (eds) (2006) Emissions Trading and Business. Physica, Heidelberg/New York
Baumast A, Dyllick T (eds) (2001) Umweltmanagement-Barometer 2001. (IWÖ-Diskus-sionsbeitrag Nr. 93), IWÖ-HSG, University of St. Gallen, St. Gallen
Böhringer C, Vogt C (2004) The dismantling of a breakthrough: the Kyoto Protocol as symbolic policy. European Journal of Political Economy 20(3): 597-617
EC: 2003, Directive 2003/87/EC of the European Parliament and of the Council of 13 Oct 2003 establishing a Scheme for Greenhouse Gas Emission Allowance Trading within the Community and Amending Council Directive 96/61/EC, Brussels, EC
Greene WH (2000) Econometric Analysis, 4th edn, New Jersey
Greening DW (1995) ‘Conservation Strategies, Firm Performance, and Corporate Reputation in the U.S. Electric Utility Industry’. Research in Corporate Social Performance and Policy Supplement 1: 345-368
Grubb M (1997) ‘Technologies, energy systems and the timing of CO2 emission abatement: An overview of economic issues’. Energy Policy 25(2): 159-172
Hamschmidt J, Dyllick T (2002) ‘ISO 14001: Profitable? Yes! But is it eco-effective?’ Greener Management International 34: 43-54
Jaffe AB, Stavins RN (1994) ‘Energy-efficiency investments and public policy’. The Energy Journal 15(2): 1-23
Sanstad AH, Howarth RB (1994) ‘‘Normal‘ markets, market imperfections and energy efficiency’. Energy Policy 22(10): 811-818
Wagner M (2002) The Relationship between environmental and economic performance of firms and the influence of ISO 14001 and EMAS. Paper presented at the 5th EMAN-Europe Conference, University of Gloucestershire, Cheltenham, UK, 11-12 Feb 2002
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2008 Springer Science+Business Media, LLC
About this chapter
Cite this chapter
Wagner, M. (2008). Links of corporate energy management strategies in Europe with the European Union emissions trading system and environmental management systems. In: Antes, R., Hansjürgens, B., Letmathe, P. (eds) Emissions Trading. Springer, New York, NY. https://doi.org/10.1007/978-0-387-73653-2_12
Download citation
DOI: https://doi.org/10.1007/978-0-387-73653-2_12
Publisher Name: Springer, New York, NY
Print ISBN: 978-0-387-73652-5
Online ISBN: 978-0-387-73653-2
eBook Packages: Business and EconomicsBusiness and Management (R0)