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024 8 $ahttps://doi.org/10.2867/391269
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101 0 $aeng
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200 00$aEIB Working Paper 2021/07 - Can European businesses achieve productivity gains from investments in energy efficiency?$fHanna Niczyporuk, European Investment Bank, Fotios Kalantzis
210  1$aLuxembourg :$cEuropean Investment Bank,$d2021.
215   $a1 online resource (32 p.)
225 1 $aEIB Working Papers
330   $aWhen they consider investing in energy efficiency measures many firms focus only on direct energy savings and do not consider non-energy benefits that include increased labour productivity. To date, due to lack of high-quality data, few studies have attempted to quantify the effects of energy efficiency investments on firm-level outcomes other than reductions in energy consumption. This paper overcomes this barrier by using novel data from the EIB Investment survey of firms in the EU and the United Kingdom for the years 2018-2019. It studies the relationship between the energy efficiency investment and the labour productivity of European firms, utilising an instrumental variables methodology to account for potential endogeneity. The results show a positive and causal relationship between energy efficiency investment and labour productivity. The findings of the paper suggest that firms can benefit much more from the energy efficiency investment than what is often assumed, and highlight a need for government policies that would increase firms' awareness of these non-energy benefits.
410   $aEIB Working Papers
606   $aBusiness & Economics / Economics$2bisacsh
606   $aEconomics
615  7$aBusiness & Economics / Economics
615  0$aEconomics
700   $aNiczyporuk$b Hanna$01276294
702   $aKalantzis$b Fotios
712 02$aEuropean Investment Bank
801  0$bScCtBLL
801  1$bScCtBLL
906   $aBOOK
912   $a9910645969203321
996   $aEIB Working Paper 2021$93007501
997   $aUNINA