A framework to measure eco-efficiency performance of firms through EMAS reports

A number of meaningful methodologies have been proposed to measure the eco-efficiency status of firms. Many of them have drawn data from homogeneous industrial sectors or products for simplicity, comparability and practicality. This paper aims at developing a methodology for measuring the eco-efficient performance of firms in an external and independent way. The suitable data for measuring eco-efficiency is drawn from EMAS reports of (EMAS certified) firms and their formal financial statements (balance-sheet and profit and loss account). The eco-efficiency scores are presented in a two-dimensional graph and a summary table in order to assist stakeholders in improving their understanding of eco-efficiency issues and thus enabling them to make rational decisions concerning these firms. The methodology is applied in a set of EMAS certified firms which operate in different industry sectors. The findings indicate that the eco-efficiency performance of firms is differentiated in relation to the sector which they operate in and the year of research.