Eco-Efficiency: Effects on Economic and Financial Performance. Evidences From Dow Jones Sustainability Europe Index

Abstract

In recent years, a new line of research, named eco-efficiency theory has become an issue of considerable interest. The most important works in relation with this topic focus on the fact that enterprises can maximize their economic benefits and minimize the impact on the environment at the same time. Therefore, the recommendation is to choose the so called strategy win-win, which allows for getting a double economic environmental benefit by means of a good management of productive resources, the rationalization of consumption and the right treatment of generated outputs. In this study it was used a sample of 122 firms from different sectors which belong to Dow Jones Responsibility Index Europe for the years 2007 through 2009. The objective is to show that the firms with the best environmental performances during this period also obtained the largest economic and financial benefits. Therefore, the investments done in order to improve the environmental performance can be a good incentive for these companies.

Non-Financial Environmental Responsibility Information, Information Environment, and Credit Ratings: Evidence from South Korea

“…However, for future research, it would be more intriguing to expand the data to include developed countries such as the U.S. and those in the EU and to compare the effect of CER practices on the cost of debt financing. In particular, according to previous studies, investors in Europe appear to constitute an investment portfolio that emphasizes impact investing or eco-efficiency [52][53][54]. However, investors in emerging markets are still in the early stages of impact investing.…”

Are institutional investors “in love” with the sustainable development goals? Understanding the idyll in the case of governments and pension funds

“…In this regard, the private sector must be willing to implement sustainable business models that allow firms to create value for the different stakeholders (investors, clients, society), by integrating the SDGs into their corporate strategies (Jha & Rangarajan, 2020; Pérez‐Calderón et al, 2021). According to a worldwide survey conducted by Accenture and UN Global Compact into CEOs' attitudes towards SDGs, CEOs think that the SDGs represent an opportunity to reconsider corporate approaches to sustainable value creation and consider that the SDGs provide a good framework to structure their firms' sustainability efforts (Accenture & UN Global Compact, 2019).…”

“…The establishment of the SDGs was the result of an extensive process of consultation and negotiation on a global level that gave rise to the 2030 Agenda in 2015 which, under the slogan "Transforming Our World," is structured on five central axes (referred to as the 5 Ps): planet, people, prosperity, peace, and partnership. Thus, the SDGs In this regard, the private sector must be willing to implement sustainable business models that allow firms to create value for the different stakeholders (investors, clients, society), by integrating the SDGs into their corporate strategies (Jha & Rangarajan, 2020;Pérez-Calder on et al, 2021). According to a worldwide survey conducted by Accenture and UN Global Compact into CEOs' attitudes towards SDGs, CEOs think that the SDGs represent an opportunity to reconsider corporate approaches to sustainable value creation and consider that the SDGs provide a good framework to structure their firms' sustainability efforts (Accenture & UN Global Compact, 2019).…”

Analysis of the Dialogue with Stakeholders by the IBEX 35 Companies

“…It is an index made up of the thirty-five most liquid stocks traded on the Spanish continuous market and comprises the largest Spanish listed firms [42,43]. As Hernández-Madrigal et al [44] and Pérez-Calderon et al [45] pointed out, these firms face high public scrutiny, being a high number of stakeholders interested in their performance. Furthermore, these companies are the most active Spanish companies on sustainability issues due to their visibility and the impact of the social and environmental dimensions of their behavior [46].…”