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Early evidence of a transition towards sustainability-oriented decision-making in the chemical industry in Germany, Austria, and Switzerland: A choice-based conjoint analysis.
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- Author(s): Heck, Janine1,2 (AUTHOR) ; Jahnke, Lars1 (AUTHOR) ; Leker, Jens1 (AUTHOR)
- Source:
Energy Policy. Apr2024, Vol. 187, pN.PAG-N.PAG. 1p.- Subject Terms:
- Source:
- Additional Information
- Subject Terms:
- 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 CO 2 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. The results shed light on the motivations guiding these decision-makers and reveal the first signs of sustainability considerations in decision-making in the chemical industry. Nevertheless, the influence of regulatory frameworks, especially mechanisms such as the EU Emissions Trading Scheme, plays a crucial role in these decisions. A deep understanding of these multi-layered decision-making processes is essential for designing effective climate policies. • Energy supply choices in the chemical industry analysed. • Conjoint analysis: 102 chemical industry managers. • Drivers for decision-makers' sustainable energy choices. • Evidence for transition towards sustainability and renewables in decision-making. • Costs and regulatory uncertainty impacting sustainable energy choices. [ABSTRACT FROM AUTHOR]
- Abstract: Copyright of Energy Policy is the property of Elsevier B.V. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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