The management of greenhouse gas emissions and its effects on firm performance

Cucchiella, Federica; Gastaldi, Massimo; Miliacca, Michela

doi:10.1016/j.jclepro.2017.02.170

Cited by 54 publications

(40 citation statements)

References 32 publications

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“…Furthermore, Philip and Shi [5] postulated that financial risk corporate management teams that utilise state-dependent hedge ratios to manage carbon emissions portfolio risks on the market could generate superior hedging financial gains. Cucchiella et al [20] applied an econometric framework on the control of emissions using several Italian companies; the findings suggested that inclusion of an EMS (Environmental Management System) along with improved control of emissions spurred a firm to increased profitability through a combination of heightened demand and productivity. Concurrently, using data gathered from 941 publicly traded US manufacturing companies as well as the adoption of multilevel hypothesis testing approaches, Lucas and Noordewier [21] demonstrated that environmental management practices in dirty along with non-proactive industries generated a positive marginal impact on firm financial performance thanks to the introduction of pollution control initiatives.…”

Section: Empirical Study Results and The Development Of The Hypothesismentioning

confidence: 99%

“…Cognitive frameworks are largely connected to issues of culture as well as ethics [18]. Thus, organisational green pressures from outside interested parties send signals to companies to introduce behaviours that address such demands [19][20][21][22]. This procedure is assumed to be recursive as well as self-reinforcing; accordingly, an organisational science of reasoning is represented in and conducted by individuals and is reflected in their conduct as well as the instruments and technology they employ.…”

Section: Institutional Theorymentioning

confidence: 99%

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The Impact of Carbon Emissions on Corporate Financial Performance: Evidence from the South African Firms

Ganda

Milondzo

2018

Sustainability

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Abstract:The impact of carbon emissions on corporate financial performance within the African corporate setting has remained open and inconclusive, owing primarily to the unavailability of data. However, this paper examines the effect of carbon emissions (Scope 1, Scope 2, and Scope 1 and 2) on the financial performance (ROE, ROI, and ROS) of 63 South African CDP companies for the 2015 fiscal year. Using multiple regression techniques, the paper found overwhelming evidence of a negative relationship between carbon emissions and corporate financial performance. Thus, results indicate that companies which integrate green investment initiatives designed to lower carbon emissions can effectually manage financial performance. Therefore, the paper provides useful insights on how companies can fully utilise their organisational resources and capabilities as well as gain insight, resulting in a higher environmental and financial performance within a firm.

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Section: Empirical Study Results and The Development Of The Hypothesismentioning

confidence: 99%

Section: Institutional Theorymentioning

confidence: 99%

The Impact of Carbon Emissions on Corporate Financial Performance: Evidence from the South African Firms

Ganda

Milondzo

2018

Sustainability

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“…In a sense, by adopting a good environmental strategy, firms can obtain economic and social benefits while protecting the environment (Hart and Ahuja 1996). Cucchiella, Gastaldi, & Miliacca (2017) claimed that good environmental management activities (waste management, water consumption, controlling GHG emissions, refining waste and so on) can lead to saving firm's resources, increasing productivity and income, and ultimately the value of the firm.…”

Section: Score Descriptionmentioning

confidence: 99%

“…This competition ultimately produces more innovation, productivity, and profitability. Cucchiella, Gastaldi, & Miliacca (2017) argue that good environmental management activities (waste management, water consumption, controlling GHG emissions, refining waste and so on) can lead to saving firms' resources, increasing productivity and income, and ultimately the value of the firm. In other words, a firm can obtain economic and social benefits while protecting the environment by adopting a good environmental strategy (Hart and Ahuja 1996).…”

Section: Introductionmentioning

confidence: 99%

“…Also, in harmony with stakeholder theory, firms must pay attention to the interests of all stakeholders in order to succeed in the long term (Jones 1995). The rise of the issue of global warming has caused environmentally conscious stakeholders to become more aware of firm's activities related to environmental impacts (Cucchiella, Gastaldi and Miliacca 2017), ther efore making firm's environmental performance as an important aspect.…”

Section: Introductionmentioning

confidence: 99%

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The Effect Of Greenhouse Gas Emissions Disclosure And Environmental Performance On Firm Value: Indonesia Evidence

Gabrielle

Toly

2019

Jurnal Ilmiah Akuntansi dan Bisnis

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This study aimed to investigates the effect of greenhouse gas emissions disclosure and environmental performance on firm value. The samples were companies participating in the Performance Rating Assessment Programme on Environment Management (PROPER/Program Penilaian Peringkat Kinerja Perusahaan) of the Ministry of Environment Republic of Indonesia that are listed in the Indonesia Stock Exchange (BEI) 2014-2017 period. The data used were secondary data from annual reports and/or sustainability reports. This study uses moderated regression analysis with panel data processed by using EViews. The results of this research found that greenhouse gas emissions disclosure and environmental performance have a positive effect on firm value. Environmental performance can moderate the relationship between greenhouse gas emissions disclosure and firm value. Debt to equity ratio and net operating income as control variables have a positive effect on firm value, but firm size has a negative effect on firm value. Keywords: Carbon Disclosure; Greenhouse Gas Emissions; Environmental Performance; Firm Value

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The Effects of International Orientation on the Dimensions of the Environmental Performance of Agri‐Food Companies: A Chilean Perspective

Barbosa

2024

Agribusiness

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Like other Latin American economies, Chile has significantly increased its presence in international agriculture markets. Agricultural commodities are primarily developed within specialized exporters or multinational enterprises and exported to several different countries. In Chile, the fruit sector accounts for almost half of total exports. Internationally oriented companies explore business opportunities in foreign markets and invest adequate resources in international operations. In addition, more internationally oriented companies could be more inclined to invest in green practices due to external pressures and, consequently, achieve higher environmental performance. In this context, environmental performance is related to the extent to which available natural resources are protected during the production, delivery, and consumption of agricultural products. To the best of our knowledge, there is scattered evidence of the relationship between international orientation and the environmental performance of agri‐food companies, especially in Latin America. Grounded on the natural resources‐based view theory, this study assessed the effects of environmental collaboration on five dimensions of environmental performance (greenhouse gas emissions, energy efficiency, food loss and waste, food quality and safety, and water footprint management) in agri‐food companies with a survey with Chilean firms. Data were analyzed using the partial least square—structural equation modeling. We found that international orientation positively influences all five dimensions of environmental performance. Our study identified that the dimension most impacted by international orientation is water footprint management, and the least impacted is food quality and safety. With the aid of multi‐group analysis, we concluded that there are no significant differences in these relationships between micro/small and medium/large companies. A significant difference was observed in food loss and waste between fruit and nonfruit producers. We expect the outcomes of this study will support exporting‐related decisions and public policies in Latin America.

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The management of greenhouse gas emissions and its effects on firm performance

Cited by 54 publications

References 32 publications

The Impact of Carbon Emissions on Corporate Financial Performance: Evidence from the South African Firms

The Impact of Carbon Emissions on Corporate Financial Performance: Evidence from the South African Firms

The Effect Of Greenhouse Gas Emissions Disclosure And Environmental Performance On Firm Value: Indonesia Evidence

The Effects of International Orientation on the Dimensions of the Environmental Performance of Agri‐Food Companies: A Chilean Perspective

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