Environmental Commitment: Do Firms Walk the Talk? An Exploratory Study of Italian Listed Companies

IF 8.3 2区 管理学 Q1 BUSINESS
Sara Ratti, Laura Dell'Agostino, Marika Arena, Giovanni Azzone
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Abstract

This study investigates whether the recent surge in corporate disclosure of environmental commitment was followed by improvements in corporate environmental performance over time. Focusing on Italian listed companies in the period 2019–2022, the study analyzes the relationship between various forms of environmental commitment and carbon emissions, distinguishing between emission scopes and accounting for time lags. The findings show that in the short term, corporate disclosure is followed by improvements in indirect emissions, likely driven by the growing availability of off-the-shelf solutions, while direct emissions show no such alignment, raising concerns about potential greenwashing. In the medium term, substantial reductions in direct emissions are observed only among firms pledging carbon neutrality, whereas other forms of environmental commitment exhibit no meaningful association with performance improvements. These results suggest emissions' reductions require substantial time and effort and that certain corporate commitments may primarily serve a symbolic function. This research underscores the need to consider temporal dimensions and emission scopes when assessing disclosure–performance dynamics and identifying risks of greenwashing.

环境承诺:企业是否言出必行?意大利上市公司的探索性研究
本研究调查了最近企业披露环境承诺的激增是否伴随着企业环境绩效的改善。本研究以2019-2022年期间的意大利上市公司为研究对象,分析了各种形式的环境承诺与碳排放之间的关系,区分了排放范围并考虑了时间滞后。研究结果表明,在短期内,企业披露信息后,间接排放会有所改善,这可能是由于现成解决方案的可用性越来越高,而直接排放则没有这种一致性,这引发了人们对潜在的“漂绿”的担忧。从中期来看,只有承诺碳中和的公司才会观察到直接排放量的大幅减少,而其他形式的环境承诺与绩效改善没有任何有意义的联系。这些结果表明,减排需要大量的时间和努力,而某些企业的承诺可能主要起到象征性的作用。这项研究强调,在评估披露-绩效动态和识别“漂绿”风险时,需要考虑时间维度和排放范围。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
17.20
自引率
16.30%
发文量
189
期刊介绍: Corporate Social Responsibility and Environmental Management is a journal that publishes both theoretical and practical contributions related to the social and environmental responsibilities of businesses in the context of sustainable development. It covers a wide range of topics, including tools and practices associated with these responsibilities, case studies, and cross-country surveys of best practices. The journal aims to help organizations improve their performance and accountability in these areas. The main focus of the journal is on research and practical advice for the development and assessment of social responsibility and environmental tools. It also features practical case studies and evaluates the strengths and weaknesses of different approaches to sustainability. The journal encourages the discussion and debate of sustainability issues and closely monitors the demands of various stakeholder groups. Corporate Social Responsibility and Environmental Management is a refereed journal, meaning that all contributions undergo a rigorous review process. It seeks high-quality contributions that appeal to a diverse audience from various disciplines.
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