Factors Affecting Eco-Innovations in the European Union

Abstract

Environmental concerns and challenges are constantly increasing in recent years. These challenges affect the national economies of many countries and business strategies in companies. Environmental regulations and greater awareness of consumers in the aspect of environmental concerns force companies to develop products that can reduce harmful environmental effects. This paper is concerned with investigating the importance of factors affecting environmental innovation in the European Union (EU), and the environmental benefits obtained during the consumption or use of innovative products. Moreover, this study presents the difference in assessing the importance of factors related to introducing environmental innovations by the EU innovative and non-innovative enterprises.