Abstract
This paper provides an econometric analysis of the factors leading to environmental technology adoption in the pulp and paper industry in Spain. Three sets of interrelated factors influencing the widespread adoption of these technologies are considered: factors external to the firm, characteristics of the environmental technology and internal characteristics and conditions of the potential adopters. A multinomial logit model is applied to the pulp and paper sector in Spain to explain the role of those factors in the adoption of different environmental technology types. It is shown that this adoption does not depend on environmental regulation but rather on market and economic variables (i.e., cost savings and the exploitation of a green image).
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