Is an environmental management system able to influence environmental and competitive performance? The case of the eco-management and audit scheme (EMAS) in the European union

The EMAS Regulation (Reg 761/01 EC) is EU scheme implemented by the European Commission since 1993 and it is for the implementation of an Environmental Management System (EMS) by any organization. The EMS was originally proposed by the European Commission and by the ISO as the frontrunner of a series of policy tools that enable companies to simultaneously pursue environmental objectives and competitive targets in a synergetic way. Based on the unique dataset of the EVER project, this paper investigates whether or not an EMS implemented within the EMAS Regulation has any effect on firm performance both from an environmental and a competitive point of view. Our econometric analysis shows the positive impact of a welldesigned environmental management system on environmental performance and, as a consequence, on technical and organizational innovations. Effects on other competitive variables such as market performance, resource productivity and intangible assets are not strongly supported.