This study conducts machine‐aided textual analysis on 725 corporate sustainability reports and empirically tests whether climate ‘talk’ within the sampled reports translates into performance ‘walk’, proxied by changes in greenhouse gas emissions over a 10‐year period. We find mixed results for the ‘talk–walk’ hypothesis, depending on the type of talk and the associated climate change actors involved. Indeed, our empirical models show that while some climate commitments are genuine, many constitute little more than ‘greenwashing’—producing symbolic rather than substantive action. We attribute this result to false signalling of climate transitioning in order to mislead due to misaligned incentives. An unexpected positive finding of the study is that talk about operational improvements is a significant predictor of climate performance improvement. On the other hand, reactive strategies are consistent with poor climate performance. Our findings highlight the significance of corporate climate strategies other than emissions reductions in assessing the effective contribution of business to the climate transition.

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In this paper, we re-conceptualize the meaning of policy-induced innovations in clean technologies by taking a cross-border approach. Previously, empirical research has shown how domestic climate and environmental policies induce firms in the same country to innovate in clean and environmental technologies. This phenomenon has become known as the Porter Hypothesis. However, most research focuses strictly on domestic inducement effects and, if foreign effects are accounted for, they are assumed to be either "knowledge" or "technology" spillovers. We, however, propose that policy spillovers might also induce innovations in other countries. In order to test this hypothesis, we construct a "foreign" environmental policy stringency proxy. This proxy is used as the main explanatory variable, with the outcome variable clean technologies, defined here as all renewable energy technologies as well as electrical energy storage, because these technologies are predominantly defined within the scope of climate and environmental policies as necessary to combat climate change and set forth as paramount to stemming pollutant causing climate change in the United Nations Framework Convention on Climate Change founding documents. Our results show that foreign environmental policy stringency does, indeed, induce clean-technology innovation at home, but this effect varies with different lag structures in our three models.

There has been much interest in green growth and innovation in recent years. The main idea is that domestic green growth policies can provide 'win-wins' to both the environment and the economy. But we still know very little about the impact of such policies, especially in developing countries-the 'Global South.' The literature remains underdeveloped. This is disappointing since the Global South could leverage green growth policies to enhance competitiveness, 'leapfrog' directly to cleaner technologies, and 'catch-up' economically and environmentally through innovation in environmental technologies. The lack of research is also problematic because greenhouse gas emissions from developing countries are growing rapidly. Without green growth and innovation it will be exceedingly difficult to meet the urgent needs of climate change. Against this backdrop, this paper conducts machine-aided citation, bibliometric, and keyword analyses on green growth research with a particular focus on developing countries, innovation, and environmental technologies.

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