Early evidence of a transition towards sustainability-oriented decision-making in the chemical industry in Germany, Austria, and Switzerland: A choice-based conjoint analysis

Janine Heck, Lars Jahnke and Jens Leker

Energy Policy, 2024, vol. 187, issue C

Abstract: The chemical industry faces the challenge of moving from a predominantly cost-based model to one that integrates green and sustainable practices. This study seeks to understand the evolving priorities of decision-makers in this sector. Specifically, it is examined how they weigh the importance of four criteria: the importance of a renewable energy mix, the energy price, investments in production plants, and the uncertainty over political regulation, including both CO2 pricing and carbon leakage protection. By applying a choice-based conjoint analysis with 102 participants from the DACH region, comprising Germany (D), Austria (A), and Switzerland (CH) in the fall of 2022, different decision patterns were identified. While cost considerations continue to play a central role, sustainability aspects are becoming increasingly important in decision-making.

Keywords: Chemical industry; Renewable energy; Energy supply decision; Conjoint analysis (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:187:y:2024:i:c:s030142152400048x

DOI: 10.1016/j.enpol.2024.114028

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