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Do Environmental Certifications Pay? A Bibliometric and Systematic Review of EMS and Eco-Label Impacts

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  • Alberto Citterio

    (University of Insubria)

Abstract

This paper investigates how environmental certifications – specifically, formal Environmental Management Systems (ISO 14001, EMAS) and consumer-facing eco-labels – influence firm financial performance. Using a dual approach that includes a bibliometric review and a systematic analysis of key studies, we identify key trends, theoretical underpinnings, and methodological approaches across these distinct certification types. Our bibliometric results highlight a rapidly evolving field, with Environmental Management Systems (EMS) and eco-label research growing along different paths and showing varying levels of international collaboration. The systematic review complements these findings by examining evidence on how certifications impact internal efficiencies, market positioning, and overall profitability. We observe that benefits depend strongly on organizational context, implementation quality, and stakeholder engagement. By integrating insights from both reviews, this paper clarifies the conditions under which environmental certifications enhance financial outcomes and offers directions for future research aimed at advancing both environmental responsibility and firm-level success.

Suggested Citation

  • Alberto Citterio, 2025. "Do Environmental Certifications Pay? A Bibliometric and Systematic Review of EMS and Eco-Label Impacts," DEM Working Papers Series 226, University of Pavia, Department of Economics and Management.
    • Handle: RePEc:pav:demwpp:demwp0226
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    File URL: https://economiaemanagement.dip.unipv.it/sites/dip10/files/2025-03/DEMWP0226.pdf
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    Keywords

    Environmental Management Systems; Eco-labels; Bibliometric Analysis; Financial Performance;
    All these keywords.

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