Corporate carbon reporting: Improving transparency and accountability

Comello, Stephen ; Reichelstein, Julia ; Reichelstein, Stefan

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DOI:	https://doi.org/10.1016/j.oneear.2023.06.002
URL:	https://www.sciencedirect.com/science/article/pii/...
Additional URL:	https://www.researchgate.net/publication/372526402...
URN:	urn:nbn:de:bsz:180-madoc-645100
Document Type:	Article
Year of publication:	2023
The title of a journal, publication series:	One Earth
Volume:	6
Issue number:	7
Page range:	803-810
Place of publication:	Amsterdam
Publishing house:	Elsevier
ISSN:	2590-3322
Publication language:	English
Institution:	Business School > Stiftungsprofessur für ABWL (Reichelstein 2018-)
Subject:	330 Economics
Abstract:	Numerous multinational firms have recently pledged to reduce their greenhouse gas emissions to a net-zero position by the year 2050. These pledges currently lack a unified measurement and reporting structure, leaving the public unsure about the extent of the corporate commitments. Here, we propose a Time-Consistent Corporate Carbon Reporting (TCCR) standard that entails an initial forecast of a firm’s future carbon emissions trajectory, periodic revisions of the earlier forecasts, and updates on emissions reductions actually achieved at different points in time. The TCCR standard is applicable to alternative carbon footprint metrics, including a company’s direct emissions, carbon emissions in goods sold, or the carbon footprint assessed for individual sales products. Companies adopting the TCCR standard will provide added transparency and accountability for their carbon disclosures.