ABSTRACT
Ecolabels are informational tools that indicate the environmental performance of a product or service. Manufacturers use ecolabels to communicate environmental information to other businesses and consumers. Ecolabels are usually based on a voluntary certification, which provides information on the extent to which a product or service meets predefined criteria such as energy efficiency, resource conservation, emissions reduction, and waste minimization. The aim is to reduce the information asymmetry between manufacturers (who know a lot) and consumers (who know relatively little) about the environmental impact of a product so that consumers can make more environmentally friendly choices (Noblet & Teisl, 2015). There are different types of ecolabels, depending on the specific scope (from a wide range of criteria to a single criterion) and the type of certifying institution (from third-party governmental labels to self-certified labels by companies).
