Having a better environmental performance translates into a better financial performance: A study of the European food industry

• Type: Article in International Scientific Journal
• Date: 2023

Authors

Gomes, AMS (Author) FEP; Sousa, PSA (Author) FEP; Moreira, MDA (Author) FEP

Journal

Title: ENVIRONMENTAL & SOCIO-ECONOMIC STUDIES

Vol. 11

Pages: 1-13

ISSN: 2354-0079

Indexing

ISI Web of Knowledge - 1 Citation

Scopus - 2 Citations

Other information

Authenticus ID: P-00Z-23B

DOI: 10.2478/environ-2023-0012

Abstract (EN): This study examined the relationship between Environmental Performance (EP) and Financial Performance (FP) in the European food industry. The food industry is essential for population sustenance, but the rising population and the consequent increase in food production demand have implications for climate change. The aim of this study was to determine if businesses that consume water more efficiently and have lower CO2 emission intensities might experience improved financial performance. Financial and environmental data were sourced from external databases and company reports, and both quantile regression and correlation analyses were conducted. The results reveal that various sectors within the food industry exhibit different linkages between Environmental Performance and Financial Performance. Furthermore, our findings indicate that water use efficiency can significantly influence financial performance, either positively or negatively, while CO2 emission intensity did not exhibit a definitive impact on Financial Performance.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 13