Mandatory disclosure would reveal corporate carbon damages : Accurate reporting is critical for markets and climate policies

Greenstone, Michael ; Leuz, Christian ; Breuer, Patricia

URN: urn:nbn:de:bsz:180-madoc-654425
Document Type: Article
Year of publication: 2023
The title of a journal, publication series: Science
Volume: 381
Issue number: 6660
Page range: 837-840
Place of publication: Washington, DC [u.a.]
Publishing house: AAAS, American Association for the Advancement of Science
ISSN: 0036-8075 , 1095-9203
Publication language: English
Institution: Business School > ABWL u. Unternehmensrechnung (Bischof 2015-)
Subject: 330 Economics
Abstract: The US Securities and Exchange Commission recently proposed a rule that would mandate that public companies report their greenhouse gas (GHG) emissions. This follows similar efforts in the European Union (EU) and United Kingdom. One rationale is that disclosure will provide information on material risks to investors, making it evident which firms are most exposed to future climate policies. In addition, some believe that reporting will galvanize pressure from companies’ key stakeholders (e.g., customers and employees), leading them to voluntarily reduce their emissions. This reasoning is in line with evidence for financial markets (1) and disclosure mandates that form the third wave of environmental policy, which follows a wave of direct regulation and a wave of market-based approaches (2). But what might such disclosure reveal? We provide a first-cut preview of what we might learn about the climate damages caused by each company’s GHG emissions by drawing on one of the largest global datasets, which covers roughly 15,000 public companies.

Economic SustainabilityEnvironmental SustainabilitySDG 8: Decent Work and Economic GrowthSDG 12: Responsible Consumption and ProductionSDG 17: Partnerships for the Goals

Dieser Eintrag ist Teil der Universitätsbibliographie.

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