Investment in environmental protection in the textile sector: Influence of legal, environmental and economic-financial factors

The textile sector has gone through numerous crises, nevertheless, is currently one of the strongest sectors in Spain. In spite of, it is the second most polluting industry not only in the country but also in the world due to the production of lots of waste products. In particular, according to data from the National Institute of Statistics (2018), this sector emits a total of 850 million tons of CO2 per year worldwide. Due to the magnitude of the problem, this project analyses what factors may be affecting to the investment in environmental protection of this sector in Spain, in order to establish guidelines to follow in the future to alleviate this situation. For this, a bivariate correlation analysis and a regression analysis have been carried out, in order to verify if the factors that have been discovered throughout the study are influencing the investment in environmental protection of the sector. The results show that a higher revenue collection from environmental service seem to be affecting in a negative way to the textile sector and the level of CO2 emissions of this sector promotes the investment to combat the problem.