Climate change urgency requires a fast transition to a low carbon society which implies broad-scale changes at all levels, hence the need of an energy transition based on enhancing energy efficiency and renewable energy. Energy efficiency is pivotal to combat climate change, it is the most affordable and readily accessible resource, and the most profitable path to sustainability. Manufacturing companies are increasingly adopting energy efficiency practices (EEP) as they become more knowledgeable about the central role energy efficiency plays in their companies’ competitiveness and the planet’s sustainability. However, the severity of climate change requires the adoption of “optimal” EEP rather than “fairly good” ones. Companies’ satisficing behavior occurs when they do not operate as profit-maximisers, but as satisfactory solutions-seekers. This study explores avenues to address companies’ satisficing behavior regarding EEP. Our research model was empirically tested through survey data collected from 193 manufacturing companies in Morocco. Results show that satisficing negatively affects EEP. Financial slack and governments’ incentives have a positive direct effect on EEP without attenuating the negative relationship between satisfying and EEP. Mimetic pressure attenuates the negative relationship between satisfying and EEP. Based on our findings, policy implications are discussed.
The Moroccan manufacturing sector consumes 24% of the country’s total energy production. Morocco is dealing with energy challenges related to its growing energy consumption, which has made energy efficiency a national priority. In this study, we construct a model that includes mimetic pressure and financial slack as drivers to reduce the intensity of risk aversion regarding electrical energy efficiency practices within companies. Our research model was empirically examined using survey data gathered from 193 manufacturing companies located in four Moroccan regions. Results show that risk aversion is negatively related to energy efficiency practices. Both mimetic pressure and financial slack are positively related to energy efficiency practices. Both mimetic pressure and financial slack reduce risk aversion. Mimetic pressure dampens the negative relationship between risk aversion and energy efficiency practices, while financial slack does not dampen the negative relationship between risk aversion and energy efficiency practices. This study shows the importance of mimetic pressure in reducing risk aversion regarding energy efficiency practices. Therefore, policymakers should publicize in the media companies that have gained from the adoption of energy efficiency practices and establish an award system of best energy efficiency practices in each industry. This study is an extension of the previous literature since we found that financial slack decreases the level of risk aversion, but this does not always translate into energy efficiency practices, as the previous literature assumes.
Due to climate change, firms are encouraged to introduce various measures to enhance both their competitiveness and sustainability, particularly energy efficiency measures (EEMs). Energy efficiency is particularly important in energy-intensive sectors such as the industrial sector. However, EEMs within industrial firms are hindered by several internal barriers such as competing interests within firms, lack of information regarding energy efficiency opportunities, and low technical competence. In this regard, energy audits aim to improve energy efficiency in facilities and to tackle internal barriers to energy efficiency. We developed a model that seeks to investigate the significance of energy audits in the implementation of EEMs and to reduce the intensity of internal barriers to energy efficiency. Our research model was empirically tested via data collected from a survey conducted with 193 industrial firms in the Kingdom of Morocco. Results show that competing interests, lack of information, and low technical competence hinder the adoption of EEMs within industrial firms, which aligns with findings from previous studies. In addition, our findings indicate that energy audits enhance EEMs and mitigate the negative effect of lack of information and low technical competence on the adoption of EEMs, which is consistent with findings from prior studies. However, our results demonstrate that energy audits do not attenuate the negative effect of competing interests on EEMs; this contrasts with findings from several previous studies. Therefore, our study builds upon prior research and contributes new insights regarding the importance of energy audits in tackling internal barriers to energy efficiency.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.