Determinants of corporate carbon reduction targets Online publication date: Tue, 30-Sep-2014
by John Byrd; Elizabeth S. Cooperman; Ken Bettenhausen
Interdisciplinary Environmental Review (IER), Vol. 15, No. 4, 2014
Abstract: This paper examines attributes affecting a corporation's choice of an intensity-only (carbon emissions relative to sales, production, etc.) versus an absolute carbon dioxide (CO2) emissions goal. We investigate alternative hypotheses for this choice including: 1) a high growth hypothesis whereby high growth companies select an intensity goal, to continue to grow without an absolute emission reduction; 2) a high emissions industrial sector hypothesis where firms in high CO2 emission industries prefer an intensity goal that is easier to reach; 3) a green window dressing hypothesis whereby firms tied to consumer acceptance select an easier to meet intensity target. Utilising maximum likelihood logit regressions, we find a higher likelihood for firms with higher growth, in high emission industries, and those in the consumer/retail sector to be more likely to have an intensity-only CO2 emissions goal. Corporations with stronger brands, however, are associated with more transparent, absolute emission targets.
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