Eco-Innovation in the Food and Beverage Industry: Persistence and the Influence of Crises

This study explores the role of persistence in eco-innovative (EI) activities in enhancing firms’ resilience during crises, focusing on the Spanish food and beverage industry. It distinguishes between two types of eco-innovators: efficiency-focused eco-innovators, who aim to reduce material and energy usage, and environmental eco-innovators, who seek to minimize direct harm to the environment. Additionally, the analysis evaluates the impact of regulation and institutional interventions on fostering eco-innovation during economic downturns. Using panel data from Spanish food and beverage companies between 2004 and 2016, we adopt a longitudinal approach to study how long-term commitments to EI influence green technology adoption. We identify three distinct periods: 2004–2007 (boom), 2008–2013 (crisis), and 2014–2016 (recovery). Finally, the study analyses the most effective institutional interventions and corporate green strategies for fostering the green transition during challenging times. The analysis provides theoretical insights and tailored managerial and policy recommendations.