Abstract
ABSTRACT The impact of carbon neutrality on the manufacturing sector, through regulatory and carbon pricing mechanisms, pushes companies toward environmental-friendly management. This paper seeks to examine the manufacturing sector’s willingness-to-pay (WTP) for the Busan Green Fund, an initiative designed to incentivize companies to adopt green management practices in Busan Metropolitan City. Three industries with the highest level of CO2 emissions are selected utilizing the Logarithmic Mean Divisia Index (LMDI) method. Companies in these three key industries are surveyed regarding their WTP, beyond their energy costs, for the Busan Green Fund. The study also investigates the characteristics of these companies. The average WTP is an 11.1% premium on energy costs. The regression results show that WTP is significantly influenced by the level of investment in energy-saving technology and company size. Based on our analysis of CO2 emission trends within the manufacturing sector, policy implications are suggested for sustainable development via the operation of a dedicated fund.
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