Dear Reviewer,

We would like to thank you for the suggestions, recommendations and comments in relation with
the scientific approach in our paper. We considered carefully each one of your suggestions. All
of them are very relevant for us and represented a reliable guide and strong support in our efforts
to increase the quality of our paper.

Starting from your specific suggestions (in bold), the changes introduced in paper are as follows:

1. pg.1 line 13, I suggest to write in this line “foreign direct investments (FDI)”.

Response: We made the change, thanks for the suggestion. Please see line 13.

2. pg.1 line 26, for a better diffusion of the paper I suggest to add “climate change, climate
business”.

Response: We made the change, thanks for the suggestion. Please see line 27.

3. pg.3 line 122, if the authors agree, I suggest to write “by gaining knowledge [41, X, Y,
Z].”, where:
[X] A. Duro, V. Piccione, M.A. Ragusa, V. Veneziano, New Enviromentally Sensitive Patch
Index - ESPI - for MEDALUS protocol, AIP Conference Proceedings, vol.1637, 305–312,
(2014);
[Y] I. Teotonio, C.O. Cruz, C.M. Silva, Morais J., Investing in sustainable built environments:
the willingness to pay for green roofs and green walls, Sustainability, vol.12 (8), art.n.3210,
(2020);
[Z] T. Zachariadis, Assessment of sustainable transport policies with an energy–economy–
environment model, Proceedings of the 9th international conference on environmental science
and technology, vol. A., pp. A1659–A1664, (2005);

Response: We made the change, thanks for the suggestion. Please see line 126.

4. pg.4 line 193, I suggest to add some details concerning the important problems of
municipal wastes, energy consumption and traffic noise. Some more lines are suggested.

Response: We added in the text some paragraphs explaining the importance of municipal
wastes, energy consumption and traffic noise. Please see lines: 202-204.

5. pg.8 line 330, as expected, GDP growth resulted to be positively correlated with FDI
inflows. I recommend to the authors to better specify this true result.
Response: We added in the text a paragraph that explains the link between FDI and GDP growth.
Please see lines: 360-364

Sincerely yours,
The authors