The Role of Voluntary Environmental Policies Towards Achieving Circularity.

Over the last decade, waste management and prevention have become important in the transition towards a circular economy (CE). This study explores how voluntary environmental policies, adopted at a regional level, contribute to green transition from the perspective of the CE. By considering general and region-specific trends in waste management and environmental certifications, we perform a two-step analysis on a panel of 20 Italian regions between 2015 and 2019: the first step extrapolates the relative efficiency by using a Data Envelopment Analysis (DEA), while the second step extrapolates the efficiency in terms of productivity changes supported by Malmquist Productivity Analysis (MPA). The DEA results show an overall rising trend of efficiency among the Italian regions, supported by the MPA. Furthermore, they reveal that technological innovation in Italian waste management contributes to a greater efficiency in socio-economic systems which are characterized by 'environmental federalism'. From a decision-making perspective, this study suggests that measures such as the incentivization of voluntary environmental policies should be proposed to promote techno-organizations' transition to CE, in coherence with regional economic/industrial specializations and strategies, possibly based on a diversified policy mix, setting a knowledge-based framework by using budgetary measures and policy actions at the regional level. • Circular Economy with resource recovery is a driving force to achieve green transition. • Increase in resource efficiency is an unexplored economic opportunity to support growth. • EMAS and UNI EN ISO certifications are proxies for the level of attention paid to the environment. • Voluntary environmental certifications facilitate the transition. • Choices made at the regional level contribute to the transition. [ABSTRACT FROM AUTHOR]