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Climate change and CO 2 emissions intertwine corporations and society in current political, social, environmental, and economic debates, specifically in Europe. The climate action plan formulated by the European Commission aims to achieve net zero emissions through eco-innovation by 2050. The objective of this study is to investigate the impact of the European eco-innovation index on CO 2 emissions produced by European firms. Using a dataset of 735 firms from 17 European countries listed during 2010–2018, we found a significant negative association between the country-level eco-innovation index and CO 2 emissions directly produced by the European firms. We also found a significant negative association between the eco-innovation index and indirect CO 2 emissions produced by the value chain of these firms. The results provide evidence that via eco-innovation, supportive steps taken by European countries provide a conducive environment for the European firms to adopt eco-innovative strategies that significantly reduce their direct and indirect CO 2 emissions per dollar of their corporate assets and make their value chains eco-friendly. The results also reveal that financial development brings in some environmental monitoring that cultivates a supportive culture for the corporations to promote corporate efforts to reduce CO 2 emissions. • The first study that uses an eco-innovation index, based on 5 dimensions, developed by the European Commission. • We find a negative impact of country-level eco-innovation on the reduction in direct and indirect corporate CO 2 emissions. • Eco-innovation initiatives taken by the European countries are helping European firms in reducing their CO 2 emissions. [ABSTRACT FROM AUTHOR]

This paper combines stakeholder assessments of potential scenarios for radical decarbonisation in shipping with scenario simulations with the MATISSE-SHIP model. It advances previous scenario work in low carbon shipping by combining qualitative and quantitative analysis in a 'reality' check of transitions scenarios with stakeholders. Stakeholders identified the critical factors covering society, technology, economics, environmental and legislation/policy. The MATISSE-SHIP model applied these factors and assumptions to model the decision process for shipowners in ordering new ships and propulsion technologies. Four scenarios were developed. With strong climate policy, technological growth with power to liquid/gas (PtL/PtG) fuels (e.g. ammonia) and wind technologies come to dominate. In business as usual, continuing emphasis on local air emissions results in the growth of LNG. Weak policies lead to severe impacts of climate change in the medium term. Eventually, cost savings from wind systems and technology development enable alternative fuel technologies to start to develop. If society moves towards sustainable lifestyles, very strong climate mitigation policies lead to a rapid substitution of fossil fuels by PtL/PtG and, in the tanker and bulker sectors, wind. • The paper shows conditions for a wide range of futures in ship propulsion. • The paper combines a qualitative scenario analysis with simulation modelling with the MATISSE model. • Regulation driven technological innovation can achieve low carbon shipping. • A change in global culture enables organisational as well as technological change. • A transition happens in all scenarios, but very slowly without policy support. [ABSTRACT FROM AUTHOR]