2017/12/12 by Faizul Haque, Collins G. Ntim · 2 citations
Business, Management and Accounting · #Environmental Sustainability in Business #Corporate Social Responsibility Reporting #Sustainable Supply Chain Management #Greenhouse gas #Sustainable development #Corporate governance #Business #Environmental governance #Environmental economics #Environmental policy #Corporate social responsibility #Accounting #Industrial organization #Economics #Political science #Finance #Ecology
paper · doi:10.1002/bse.2007
openalex publication_date 2017/12/12 · openalex created_date 2025/10/10 · openalex updated_date 2026/08/04
Abstract We investigate the effects of environmental policy (Climate Change Act – CCA), sustainable development frameworks (Global Reporting Initiative – GRI; UN Global Compact – UNGC) and corporate governance (CG) mechanisms on environmental performance (carbon reduction initiatives – CRIs; actual carbon performance – GHG emissions) of UK listed firms. We use the generalized method of moments (GMM) estimation technique to analyse data consisting of 2245 UK firm‐year observations over the 2002–2014 period. First, we find that the CCA has a positive effect on CRIs, and this effect is stronger in better‐governed firms. Second, we find that the GRI‐based framework is positively associated with CRIs. Third, we find that firms with poor CG structures have lower actual carbon performance compared with their better‐governed counterparts. Overall, our evidence suggests that firms can symbolically conform to environmental policy (CCA) and sustainable development frameworks (GRI, UNGC) by engaging in CRIs without necessarily improving actual environmental performance (GHG emissions) substantively. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment