Ex post evaluation of voluntary environmental policies on the energy intensity in Chilean firms

Cristian Mardones and Pablo Herreros ()
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Pablo Herreros: University of Concepción

Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2023, vol. 25, issue 9, No 8, 9136 pages

Abstract: Abstract This study analyzes the impact of two voluntary environmental policies (carbon footprint and energy efficiency) on the intensity of energy expenditure in Chilean firms between 2015 and 2017. Both policies could be considered successful in environmental terms if they reduce the energy or induce a substitution from fossil fuels to electricity. The analysis is carried out with two methods, matching with differences-in-differences (assuming exogenous treatment) and instrumental variables (assuming endogenous treatment), using a panel database built from the Longitudinal Survey of Firms. The results show that the carbon footprint policy does not affect the intensity of fuel expenditure or electricity expenditure. On the other hand, the energy efficiency policy increases the intensity of electricity expenditure. Thus, it is concluded that both policies are not effective in reducing the energy intensity at the firm level. The above could be attributed to a weak implementation, monitoring, and/or commitment of these voluntary environmental policies in many Chilean firms.

Keywords: Matching with differences-in-differences; Instrumental variable; Treatment endogeneity; Impact evaluation; Intensity of energy expenditure (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s10668-022-02426-z

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