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Journal of Business Ethics

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30-01-2023 | Editorial

Corporate Greenhouse Gas Emissions’ Data and the Urgent Need for a Science-Led Just Transition: Introduction to a Thematic Symposium

Authors: Timo Busch, Charles H. Cho, Andreas G. F. Hoepner, Giovanna Michelon, Joeri Rogelj

Published in: Journal of Business Ethics | Issue 4/2023

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“[T]he consequences for climate policy and for sharing the responsibility of reducing global CO ₂ emissions can only be drawn in combination with judgments about equity, fairness, the value of future generations and our attitude towards risk.” Knutti & Rogelj (2015: 361)

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https://www.cfainstitute.org/ethics/codes/code-of-ethics-standards-of-conduct-guidance.

https://www.weforum.org.

A recent special issue, co-edited by one of the editors of this Thematic Symposium, provides a range relevant studies on this topic—see editorial for a summary (Cho et al., 2022).

MSCI (2020). Scope 3 Carbon Emissions: Seeing the Full Picture. Retrieved from: https://www.msci.com/www/blog-posts/scope-3-carbon-emissions-seeing/02092372761.

BSR (2020). Climate Action in the Value Chain: Reducing Scope 3 Emissions and Achieving Science-Based Targets. Retrieved from: https://www.bsr.org/en/our-insights/report-view/scope-3-emissions-science-based-targets-climateaction-value-chain.

Ballou, B., Chen, P.-C., Grenier, J. H., & Heitger, D. L. (2018). Corporate social responsibility assurance and reporting quality: Evidence from restatements. Journal of Accounting and Public Policy, 37(2), 167–188.CrossRef

Bolton, P., Reichelstein, S., Kacperczyk, M., Leuz, C., Ormazabal, G., & Schoenmaker, D. (2021). Mandatory carbon disclosure and the path to net zero. CEPR Policy Insight N. 111. Available at https://cepr.org/system/files/2022-08/PolicyInsight111.pdf

Bonetti, P., Cho, C. H., & Michelon, G. (2018). Environmental disclosure and the cost of capital: Evidence from the Fukushima nuclear disaster. Working Paper. Available at SSRN: https://ssrn.com/abstract=2373877

Busch, T. (2011). Which emissions do we need to account for in corporate carbon performance? Journal of Industrial Ecology, 15(1), 160–163.CrossRef

Busch, T. (2019). Markets must back climate mitigation. Nature, 571, 36.CrossRef

Busch, T., Bauer, R., & Orlitzky, M. (2016). Sustainable development and financial markets—old paths and new avenues. Business & Society, 55(3), 303–329.CrossRef

Busch, T., Johnson, M., & Pioch, T. (2022). Corporate carbon performance data: Quo vadis? Journal of Industrial Ecology, 26(1), 350–363.CrossRef

Cho, C. H., Kajüter, P., & Stacchezzini, R. (2022). The future of corporate reporting. Accounting in Europe, 19(1), 1–6.CrossRef

Cho, C. H., Michelon, G., Patten, D. M., & Roberts, R. W. (2014). CSR report assurance in the United States: An empirical investigation of determinants and effects. Sustainability Accounting, Management and Policy Journal, 5(2), 130–148.CrossRef

Ding, D., Liu, B., & Chang, M. (2022). Carbon emissions and TCFD-aligned climate-related information disclosures. Journal of Business Ethics. https://doi.org/10.1007/s10551-022-05292-xCrossRef

Döring, S., Drobetz, W., El Ghoul, S., Guedhami, O., & Schröder, H. (2023). Foreign institutional investors, legal origin, and corporate greenhouse gas emissions disclosure. Journal of Business Ethics. https://doi.org/10.1007/s10551-022-05289-6CrossRef

UNEP FI. (2013). Portfolio Carbon. Measuring, disclosing and managing the carbon intensity of investments and investment portfolios. UNEP Finance Initiative. Available at: https://www.unepfi.org/fileadmin/climatechange/UNEP_FI_Investor_Briefing_Portfolio_Carbon.pdf

Fouquet, R. (2016). Historical energy transitions: Speed, prices and system transformation. Energy Research & Social Science, 22, 7–12.CrossRef

Greenwood, M., & Freeman, R. E. (2018). Deepening ethical analysis in business ethics. Journal of Business Ethics, 147(1), 1–4.CrossRef

Hoepner, A. G. F., Masoni, P., Kramer, B., Slevin, D., Hoerter, S, Ravanel, C., Viñes Fiestas, H., Lovisolo, S., Wilmotte, J.-Y., Latini, P., Fettes, N., Kidney, S., Dixson-Decleve, S., Claquin, T., Blasco, J. L., Kusterer, T., Martínez Pérez, J., Suttor Sorel, L., Löffler, K., Vitorino, E., Pfaff, N., Brockmann, K. L., Micilotta, F., Coeslier, M., Menou, V., Aho, A., Fabian, N., Philipova, E., Hartenberger, U., Lacroix, M., Baumgarts, M., Bolli, C., Pinto, M., Bukowski, M. & Krimphoff, J. (2019) ‘TEG Final Report on Climate Benchmarks and Benchmarks’ ESG Disclosure’ Brussels: European Commission.

Hoepner, A. G. F., Majoch, A. A. A., & Zhou, X. (2021). Does an asset owner’s institutional setting influence its decision to sign the principles for responsible investment? Journal of Business Ethics, 168(2), 389–414.CrossRef

Hoepner, A. G. F., & Rogelj, J. (2021). Emissions estimations should embed precautionary principle. Nature Climate Change, 11, 638–640.CrossRef

Hoepner, A. G. F., & Schopohl, L. (2018). On the price of morals in markets: An empirical study of the Swedish AP-funds and the Norwegian government pension fund. Journal of Business Ethics, 151(3), 665–692.CrossRef

Hoepner, A. G. F., & Schopohl, L. (2020). State pension funds and corporate social responsibility: Do beneficiaries’ political values influence funds’ investment decisions? Journal of Business Ethics, 165(3), 489–516.CrossRef

Hoepner, A. G. F., & Yu, P. S. (2018). Responsible investors and company standards: Follow the money to rate the raters. In D. C. Poff & A. C. Michalos (Eds.), Encyclopedia of Business and Professional Ethics. Heidelberg: Springer.

Kim, T. H., Lee, S. H., & Vourvachis, P. (2022). Accounting standard setting for an emission trading scheme: The Korean case. Journal of Business Ethics. https://doi.org/10.1007/s10551-022-05290-zCrossRef

King, L., & Gish, E. (2015). Marketizing social change: Social shareholder activism and responsible investing. Sociological Perspectives, 58(4), 711–730.CrossRef

Klaaßen, L., & Stoll, C. (2021). Harmonizing corporate carbon footprints. Nature Communications, 12(6149), 1–13.

Knutti, R., & Rogelj, J. (2015). The legacy of our CO₂ emissions: A clash of scientific facts, politics and ethics. Climatic Change, 133(3), 361–373.CrossRef

Liesen, A., Figge, F., Hoepner, A. G. F., & Patten, D. M. (2017). Climate change and asset prices: Are corporate carbon disclosure and performance priced appropriately? Journal of Business Finance & Accounting, 44(1&2), 35–62.CrossRef

Liesen, A., Hoepner, A. G. F., Patten, D. M., & Figge, F. (2015). Does stakeholder pressure influence corporate GHG emissions reporting? Empirical evidence from Europe. Accounting, Auditing & Accountability Journal, 28(7), 1047–1074.CrossRef

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Michelon, G., Patten, D. M., & Romi, A. M. (2019). Creating legitimacy for sustainability assurance practices: Evidence from sustainability restatements. European Accounting Review, 28(2), 395–422.CrossRef

Michelon, G., Rodrigue, M., & Trevisan, E. (2020). The marketization of a social movement: Activists, shareholders and CSR disclosure. Accounting Organizations & Society, 80, 101074.CrossRef

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Rivière-Giordano, G., Giordano-Spring, S., & Cho, C. H. (2018). Does the level of assurance statement on environmental disclosure affect investor assessment? An experimental study. Sustainability Accounting, Management and Policy Journal, 9(3), 336–360.CrossRef

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Yao, S., Pan, Y., Wang, L., Sensoy, A., & Cheng, F. (2022). Building eco-friendly corporations: The role of minority shareholders. Journal of Business Ethics. https://doi.org/10.1007/s10551-022-05291-yCrossRef

Title: Corporate Greenhouse Gas Emissions’ Data and the Urgent Need for a Science-Led Just Transition: Introduction to a Thematic Symposium
Authors: Timo Busch
Charles H. Cho
Andreas G. F. Hoepner
Giovanna Michelon
Joeri Rogelj
Publication date: 30-01-2023
Publisher: Springer Netherlands
Published in: Journal of Business Ethics / Issue 4/2023
Print ISSN: 0167-4544
Electronic ISSN: 1573-0697
DOI: https://doi.org/10.1007/s10551-022-05288-7

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Mobilizing After Corporate Environmental Irresponsibility in a Community of Place: A Framing Microprocess Perspective

Foreign Institutional Investors, Legal Origin, and Corporate Greenhouse Gas Emissions Disclosure

Shared Responsibility and Labor Rights in Global Supply Chains

Building Eco-friendly Corporations: The Role of Minority Shareholders

How to Evaluate Managerial Nudges

Accounting Standard-Setting for an Emission Trading Scheme: The Korean Case

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