Skip to main content
SpringerLink
Log in

Transition Toward a Low-Carbon Economy: The Contribution of Italian Listed Utilities

  • Conference paper
  • First Online:
Eurasian Business and Economics Perspectives

Part of the book series: Eurasian Studies in Business and Economics ((EBES,volume 21))

  • 431 Accesses

Abstract

Climate change is the most urgent environmental crisis we are facing today and the fact that it threatens the survival of communities that are affected by natural disasters, as well as the prosperity of their businesses means that it also raises social and economic concerns. Several international agreements and programs describe the transition toward a low-carbon economy as a necessary step to combat climate change. The utilities sector should assume great responsibility in this process. This chapter seeks to understand how Italian listed utilities are contributing to the transition to a carbon-free economy. Specifically, the study examines how strategic they deem the fight against climate change as a condition for their long-term growth. The study is qualitative and adopts the content analysis method. Data are collected from nonfinancial statements, other corporate documents, and websites. The results of the investigation show that the Italian listed utilities have embarked on a virtuous path, which is strongly inspired, guided, and monitored at board level. In particular, the actions undertaken by the companies analyzed in this study appear not only capable of strengthening their image as sustainable companies but also of benefitting the entire economic system, society, and the environment.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 149.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 199.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 199.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Arroyo, F. R., & Miguel, L. J. (2020). The trends of the energy intensity and CO2 emissions related to final energy consumption in Ecuador: Scenarios of national and worldwide strategies. Sustainability, 12(1), 20.

    Article  Google Scholar 

  • ASviS. (2020). ASviS report 2020 (in Italian). ASviS.

    Google Scholar 

  • Bersano, A., Segantin, S., Falcone, N., Panella, B., & Testoni, R. (2020). Evaluation of a potential reintroduction of nuclear energy in Italy to accelerate the energy transition. The Electricity Journal, 33(7), 106813.

    Article  Google Scholar 

  • Beske, F., Haustein, E., & Lorson, P. C. (2020). Materiality analysis in sustainability and integrated reports. Sustainability Accounting, Management and Policy Journal, 11(1), 162–186.

    Article  Google Scholar 

  • Bosetti, L. (2018). Web-based integrated CSR reporting: An empirical analysis. Symphonya. Emerging Issues in Management, 1, 18–38.

    Google Scholar 

  • Brondoni, S. M., Bosetti, L., & Civera, C. (2019). Ouverture de ‘CSR and Multi-Stakeholder Management’. Symphonya. Emerging Issues in Management, 1, 1–15.

    Google Scholar 

  • Carbonsink (2020). The new integrated national plan for energy and climate. Accessed Dec 26, 2020, from https://www.carbonsink.it/en/news/the-new-integrated-national-plan-for-energy-and-climate

  • Chae, Y., Choi, S. H., & Kim, Y. J. (2020). Climate change policy implications of sustainable development pathways in Korea at sub-national scale. Sustainability, 12(10), 4310.

    Article  Google Scholar 

  • Commission of the European Communities (2008). 20 20 by 2020–Europe’s climate change opportunity. [pdf] COM(2008) 30 final. Accessed Dec 26, 2020, from https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52008DC0030&from=EN

  • Deloitte. (2020). Oil, gas, and the energy transition. How the oil and gas industry can prepare for a lower-carbon future. Deloitte Insights.

    Google Scholar 

  • De Richter, R. K., Ming, T., Caillol, S., & Liu, W. (2016). Fighting global warming by GHG removal: Destroying CFCs and HCFCs in solar-wind power plant hybrids producing renewable energy with no-intermittency. International Journal Greenhouse Gas Control, 49, 449–472.

    Article  Google Scholar 

  • Eder, L., & Provornaya, I. (2018). Analysis of energy intensity trend as a tool for long-term forecasting of energy consumption. Energy Efficiency, 11, 1971–1997.

    Article  Google Scholar 

  • EPA. (2020). Inventory of U.S. Greenhouse Gas Emissions and Sinks: 1990–2018. Washington, D.C..

    Google Scholar 

  • European Commission. (2013). Green paper. A 2030 framework for climate and energy policies. [pdf] COM(2013) 169 final. Accessed Dec 26, 2020, from https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52013DC0169&from=EN

  • European Commission. (2018). A clean planet for all. A European strategic long-term vision for a prosperous, modern, competitive and climate neutral economy. [pdf] COM(2018) 773 final. Accessed Dec 26, 2020, from https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52018DC0773&from=EN

  • European Commission. (2019). The European Green Deal. [pdf] COM(2019) 640 final. Accessed Dec 26, 2020, from https://eur-lex.europa.eu/resource.html?uri=cellar:b828d165-1c22-11ea-8c1f-01aa75ed71a1.0002.02/DOC_1&format=PDF

  • European Commission. (2020a). Causes of climate change. Accessed Dec 28, 2020, from https://ec.europa.eu/clima/change/causes_en

  • European Commission. (2020b). State of the union: Commission raises climate ambition and proposes 55% cut in emissions by 2030. Press release, 17 September 2020.

    Google Scholar 

  • Fonseca, L. M., Domingues, J. P., & Dima, A. M. (2020). Mapping the sustainable development goals relationships. Sustainability, 12(8), 3359.

    Article  Google Scholar 

  • Fuso Nerini, F., Slob, A., Ericsdotter Engström, R., & Trutnevyte, E. (2019). A research and innovation agenda for zero-emission European cities. Sustainability, 11(6), 1692.

    Article  Google Scholar 

  • Germanwatch. (2021). Global climate risk index 2021. [online] Accessed Jun 28, 2020, from https://germanwatch.org/en/cri

  • Gielen, D., Boshell, F., Saygin, D., Bazilian, D. M., Wagner, N., & Gorini, R. (2019). The role of renewable energy in the global energy transformation. Energy Strategy Review, 24, 38–50.

    Article  Google Scholar 

  • Goldstein, A., Turner, W. R., Gladstone, J., & Hole, D. G. (2019). The private sector’s climate change risk and adaptation blind spots. Nature Climate Change, 9(1), 18–25.

    Article  Google Scholar 

  • Gonzalez-Peres, M. A., & Leonard, L. (Eds.). (2017). Climate change and the 2030 corporate agenda for sustainable development. Emerald.

    Google Scholar 

  • Jiang, P., Alimujiang, A., Dong, H., & Yan, X. (2020). Detecting and understanding synergies and co-benefits of Low carbon development in the electric power industry in China. Sustainability, 12(1), 297.

    Article  Google Scholar 

  • Macnamara, J. (2005). Media content analysis: Its uses, benefits and best practice methodology. Asia Pacific Public Relations Journal, 6(1), 1–34.

    Article  Google Scholar 

  • Marseglia, G., Rivieccio, E., & Medaglia, C. M. (2019). The dynamic role of Italian energy strategies in the worldwide scenario. Kybernetes, 48(3), 636–649.

    Article  Google Scholar 

  • Martens, P., McEvoy, D., & Chang, C. T. (2016). Climate change: Responding to a major challenge for sustainable development. In H. Heinrichs, P. Martens, G. Michelsen, & A. Wiek (Eds.), Sustainability science. Springer.

    Google Scholar 

  • Nautiyal, S., Schaldach, R., Raju, K., Kaechele, H., Pritchard, B., & Rao, K. (Eds.). (2016). Climate change challenge (3C) and social-economic-ecological interface-building. Springer.

    Google Scholar 

  • Neuendorf, K. A. (2017). The content analysis guidebook (2nd ed.). Sage.

    Book  Google Scholar 

  • REF-E. (2020). Oxygen for growth. Decarbonisation at the heart of post-COVID economic strategy. Proposals for reforms and actions for a resilient economy. Executive summary. [pdf] Accessed Dec 29, 2020, from https://refeweb.s3-eu-west-1.amazonaws.com/Ossigeno-per-la-crescita-ES_English.pdf

  • Roggema, R. (2009). Adaptation to climate change: A spatial challenge. Springer.

    Book  Google Scholar 

  • Safari, M., & Areeb, A. (2020). A qualitative analysis of GRI principles for defining sustainability report quality: An Australian case from the preparers’ perspective. Accounting Forum, 44(4), 344–375.

    Article  Google Scholar 

  • Sakhel, A. (2017). Corporate climate risk management: Are European companies prepared? Journal of Cleaner Production, 165, 103–118.

    Article  Google Scholar 

  • Saleem, M. A., Eagle, L., & Low, D. (2018). Climate change behaviors related to purchase and use of personal cars: Development and validation of eco-socially conscious consumer behavior scale. Transportation Research Part D: Transport and Environment, 59, 68–85.

    Article  Google Scholar 

  • Salvioni, D. M., Gennari, F., & Bosetti, L. (2016). Sustainability and convergence: The future of corporate governance systems? Sustainability, 8(11), 1203.

    Article  Google Scholar 

  • Sarkodie, S. A., Ackom, E., Bekun, F. V., & Owusu, P. A. (2020). Energy–climate–economy–population nexus: An empirical analysis in Kenya, Senegal, and Eswatini. Sustainability, 12(15), 6202.

    Article  Google Scholar 

  • TCFD–Task Force on Climate-related Financial Disclosures. (2017). Recommendations of the task force on climate-related financial disclosure. Final Report. Financial Stability Board.

    Google Scholar 

  • United Nations. (2015a). Paris agreement. Accessed Dec 26, 2020, from https://unfccc.int/process-and-meetings/the-paris-agreement/the-paris-agreement

  • United Nations. (2015b). Transforming our world: the 2030 Agenda for sustainable development. Accessed Dec 23, 2020, from https://sdgs.un.org/2030agenda

  • Vellini, M., Bellocchi, S., Gambini, M., Manno, M., & Stilo, T. (2020). Impact and costs of proposed scenarios for power sector decarbonisation: An Italian case study. Journal of Cleaner Production, 274, 123667.

    Article  Google Scholar 

  • Weber, R. (1990). Basic content analysis (2nd ed.). Sage.

    Book  Google Scholar 

  • Werz, M., & Hoffman, M. (2016). Europe’s twenty-first century challenge: Climate change, migration and security. European View, 15(1), 145–154.

    Article  Google Scholar 

  • World Bank Group. (2021). Climate change knowledge portal for development practitioners and policy makers. [online] Accessed Jun 28, 2020, from https://climateknowledgeportal.worldbank.org

  • World Resources Institute. (2020). Climate watch. [online] Accessed Jan 4, 2021, from https://www.climatewatchdata.org

Download references

Author information

Authors and Affiliations

  1. Department of Economics and Management, University of Brescia, Brescia, Italy

    Luisa Bosetti

Authors
  1. Luisa Bosetti
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Luisa Bosetti .

Editor information

Editors and Affiliations

  1. Istanbul Medeniyet University, Fatih, Istanbul, Turkey

    Mehmet Huseyin Bilgin

  2. MUFG Union Bank, San Francisco, CA, USA

    Hakan Danis

  3. Department of Business Administration, School of Social Sciences, Reykjavik University, Reykjavik, Iceland

    Ender Demir

  4. Montpellier Business School, Montpellier, France

    Adam Zaremba

Rights and permissions

Reprints and permissions

Copyright information

© 2022 The Author(s), under exclusive license to Springer Nature Switzerland AG

About this paper

Check for updates. Verify currency and authenticity via CrossMark

Cite this paper

Bosetti, L. (2022). Transition Toward a Low-Carbon Economy: The Contribution of Italian Listed Utilities. In: Bilgin, M.H., Danis, H., Demir, E., Zaremba, A. (eds) Eurasian Business and Economics Perspectives. Eurasian Studies in Business and Economics, vol 21. Springer, Cham. https://doi.org/10.1007/978-3-030-94036-2_6

Download citation

Publish with us

Policies and ethics

Search

Navigation