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The aim of this study was to determine if businesses that consume water more efficiently and have lower CO<jats:sub>2<\/jats:sub> emission intensities might experience improved financial performance. Financial and environmental data were sourced from external databases and company reports, and both quantile regression and correlation analyses were conducted. The results reveal that various sectors within the food industry exhibit different linkages between Environmental Performance and Financial Performance. Furthermore, our findings indicate that water use efficiency can significantly influence financial performance, either positively or negatively, while CO<jats:sub>2<\/jats:sub> emission intensity did not exhibit a definitive impact on Financial Performance.<\/jats:p>","DOI":"10.2478\/environ-2023-0012","type":"journal-article","created":{"date-parts":[[2023,9,20]],"date-time":"2023-09-20T05:24:59Z","timestamp":1695187499000},"page":"1-13","source":"Crossref","is-referenced-by-count":2,"title":["Having a better environmental performance translates into a better financial performance: A study of the European food industry"],"prefix":"10.2478","volume":"11","author":[{"ORCID":"https:\/\/orcid.org\/0009-0002-0399-1893","authenticated-orcid":false,"given":"Adriana Maria Silva","family":"Gomes","sequence":"first","affiliation":[{"name":"University of Porto, Faculty of Economics , R. Dr. Roberto Frias, s\/n , Portugal"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-0578-1593","authenticated-orcid":false,"given":"Paulo S\u00e9rgio Amaral","family":"de Sousa","sequence":"additional","affiliation":[{"name":"University of Porto, Faculty of Economics , R. Dr. Roberto Frias, s\/n , Portugal"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-4439-6230","authenticated-orcid":false,"given":"Maria do Ros\u00e1rio Alves","family":"Moreira","sequence":"additional","affiliation":[{"name":"University of Porto, Faculty of Economics , R. Dr. Roberto Frias, s\/n , Portugal"}]}],"member":"374","published-online":{"date-parts":[[2023,9,19]]},"reference":[{"key":"2024042711222407262_j_environ-2023-0012_ref_001","doi-asserted-by":"crossref","unstructured":"Albertini E. 2013. Does environmental management improve financial performance? A meta-analytical review. 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