Clearing up the benefits of a fossil fuel sector diversified board: A climate change mitigation strategy

Crichton, Rohan; Farhidi, Faraz; Deeny, Ciara; Patel, Alpna

doi:10.1111/basr.12246

Cited by 10 publications

(12 citation statements)

References 53 publications

(81 reference statements)

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“…Using the same instrumental variable approach as before, we find that female board representation does not significantly affect financial performance, but it does have a positive and significant impact on environmental and social performance. These findings are in line with the broader literature on the subject: Evidence on the relationship between female board representation and financial performance is mixed (e.g., Post & Byron, 2015), whereas the positive effect of boardroom gender diversity on firms' environmental and social performance is fairly well‐established (e.g., Arayssi et al, 2016; Crichton et al, 2021; Sebastianelli & Tamimi, 2020; Shaukat et al, 2016). These results are particularly relevant in light of the recent push for global sustainability reporting standards and ESG disclosure regulations (Caroom, 2021).…”

Section: Discussionsupporting

confidence: 85%

“…In the United States, more than 10% of companies in the Russell 3000 Index do not have a single female director (McGregor, 2019). The lack of gender diversity in corporate leadership is not only problematic from a normative perspective (Franceschet & Piscopo, 2013) but also potentially detrimental to a firms' economic, social, and environmental performance (e.g., Crichton et al, 2021; Post & Byron, 2015). As a result, companies in many countries have been facing pressure to increase female board representation from multiple stakeholders, including governments, investors, employees, and women's rights groups (Gupta, 2020).…”

Section: Introductionmentioning

confidence: 99%

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Women's movements and female board representation

Neureiter

Bhattacharya

2022

Business and Society Review

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Scholars know relatively little about the potential impact of women's movements on gender diversity in the corporate world. We aim to fill this gap in the literature by providing the first empirical analysis of the relationship between women's movements and female representation on boards of directors. Drawing on political process theory, we argue that the strength of a women's movement is positively associated with its ability to increase the number of women on corporate boards. Moreover, we posit that the effect of women's movements on female board representation is moderated by corporate opportunity structures, that is, attributes of firms that make them more or less receptive to social movement activities. Three firm characteristics are particularly relevant in the context of boardroom gender diversity: reputation-seeking behavior, commitment to corporate social responsibility, and political orientation. Using firm-fixed effects models to analyze data on more than 2000 companies from 10 countries over a period of 10 years, we find support for three of our four hypotheses. Theoretical and practical implications are discussed.

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Section: Discussionsupporting

confidence: 85%

Section: Introductionmentioning

confidence: 99%

Women's movements and female board representation

Neureiter

Bhattacharya

2022

Business and Society Review

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“…The fossil fuel sector is at the forefront of the climate change mitigation global debate, and several solutions have already been (and continue to be) put forth (Crichton et al, 2021). Our theoretical investigation adds to this much-needed conversation, and our findings add tools to a “tool box” very much in need of filling.…”

Section: Discussionmentioning

confidence: 99%

“…The fossil fuel sector accounts for approximately half of greenhouse gas emissions in industrialized countries (Crichton et al, 2021; Levy and Kolk, 2002), a statistic the United Nations Intergovernmental Panel on Climate Change (UN IPCC) (2014) reinforces, by asserting that 78% of these greenhouse gas emissions can be attributed to carbon dioxide that was released through industrial processes and fossil fuel combustion. Approximately 20% of the world’s carbon emissions from fossil fuels can be traced back to countries like the USA, Saudi Arabia, UK, Russia, Netherlands, Iran, and Mexico (Heede, 2014).…”

Section: The Role Of the Fossil Fuel Sector In Contributing To Greenh...mentioning

confidence: 99%

Improving executive compensation in the fossil fuel sector to influence green behaviors

Crichton

Shrivastava

Walker

et al. 2022

German Journal of Human Resource Management: Zeitschrift für Pe

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The effects of climate change are being felt around the world, and the calls to mitigate are growing louder. In hopes of responding to this call, we examine strategic compensation practices as innovative solutions for tackling climate change. We employ a fixed panel analysis and examine organizational data from an array of global fossil fuel organizations—arguably the principal climate change contributors. Our findings suggest that executive stock-option compensation oriented around a 3-year or more vesting period will enhance organizational green behaviors. The contributions of this study add to the green human resource management literature in offering new perspectives on how compensation practices can enhance green behaviors and clarify key misconceptions related to linking sustainability targets to firm-level compensation schemes.

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“… 8 Alternatively, part of the potential compost waste can be diverted to biomass conservation units, promoting environmental sustainability, and producing energy that otherwise would be wasted and converted directly to greenhouse gases (GHGs). 9 While it is well-understood that more than half of the accumulated GHGs in industrialized countries come from fossil energy, 10 the ongoing debates must extend to the other sources of emissions such as waste due to the invaluable opportunities they provide for GHG mitigation.…”

Section: Introductionmentioning

confidence: 99%

How the US Economy and Environment can Both Benefit From Composting Management

Farhidi¹,

Madani

Crichton

2022

Environ�Health�Insights

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Composting is one of the environmentally friendly ways of reducing organic waste. It is economically viable since it cuts costs associated with the hauling of wastes and enables farmers to reduce the use of fertilizers. Composting operations are relatively non-existent in the solid municipal waste sector, as the market has molded itself and grown into a standard “bury-or-burn” model. As humans are trying to address global warming, composting proves to be a promising climate change mitigation option, benefiting societies in terms of the environment, the economy, and overall health. This study projects that—with the current trends—by the end of 2030, the U.S. can increase the compost to waste ratio by 18% from 10%, reducing carbon emissions by 30 million tons a year while saving around 16 billion USD in municipal waste management costs. Analyzing the existing records in the OECD countries suggests that economic motives are not powerful enough to incentivize the industry/household toward composting. Stricter environmental policies can boost the composting volume by 214-574 thousand tons per year. Imposing waste taxes and penalties can give birth to a vast industry that has not yet flourished while the economic subsidies financed by the collected taxes and penalties can incentivize the private sector to further invest in composting.

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Clearing up the benefits of a fossil fuel sector diversified board: A climate change mitigation strategy

Cited by 10 publications

References 53 publications

Women's movements and female board representation

Women's movements and female board representation

Improving executive compensation in the fossil fuel sector to influence green behaviors

How the US Economy and Environment can Both Benefit From Composting Management

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