Establishment of Corporate Energy Management Systems and Voluntary Carbon Information Disclosure in Chinese Listed Companies: The Moderating Role of Corporate Leaders’ Low-Carbon Awareness

Abstract

The “Energy-Saving and Low-Carbon Action Implementation Plan for Ten Thousand Enterprises” urged Chinese energy users to establish an energy management system (EEM) that emphasizes energy conservation and emission reduction. This study applied the voluntary information disclosure theory, stakeholder theory, and legitimacy theory to construct a research framework for corporate voluntary carbon information disclosure (CID) under combined action of disclosure decision, EEM related to carbon information collection, and pressure to disclose. This study uses A-share listed companies from 2009 to 2017 as its research sample. Panel data regression analyses show that EEM positively affects CID in the high-carbon industry, and LLA positively affects CID in the low-carbon industry. In addition, ownership concentration has significant effects on CID. Moreover, the existence of state-owned shares positively affects CID of AH-share samples. The moderating effect test found that LLA has a negative moderating effect (a positive moderating effect) on the relationship between EEM and CID in the high-carbon industry (in AH-share samples). This study has verified the promoting effect of energy policies implementation related to carbon reduction and leaders’ carbon awareness on CID. It provided a strong basis for the significance of accelerating climate-change policies and promotion effects of international capital markets.

Energy Conservation and Firm Performance in Thailand: Comparison between Energy-Intensive and Non-Energy-Intensive Industries

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An improved energy management control strategy for a standalone solar photovoltaic/battery system

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A study on the impact of corporate low carbon awareness on the quality of carbon information disclosure--Based on the mediating effects of green technology innovation

“…In terms of the relationship between low carbon awareness and carbon disclosure, Qi Xiaoyan (2012) concluded that the importance of environmental protection by company management and the establishment of an environmental protection department were positively related to the level of carbon disclosure by the company. Pan An E and Guo Qiushi (2018) concluded that the stronger the environmental awareness of executives, the higher the level of corporate environmental information disclosure 22 Dan E & Shen J (2022) used A-share listed companies from 2009-2017 as a research sample and used voluntary disclosure theory, stakeholder theory and legitimacy theory to construct a research framework and found that leaders' low carbon awareness has a facilitating effect on voluntary corporate carbon information disclosure 36 .…”