Valuation effects of emissions reduction target disclosures

Urvashi Khandelwal, Prateek Sharma and Viswanathan Nagarajan

Finance Research Letters, 2022, vol. 49, issue C

Abstract: •Emissions reduction target disclosures (ERTD) increase firm value.•The valuation premium is higher for aggressive emissions reduction targets.•The valuation premium is primarily driven by an increase in expected sales.•ERTD do not affect expectations of operating costs and the firm's cost of equity.•Industry competition and pollution intensity are negatively related to the premium.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:49:y:2022:i:c:s1544612322003075

DOI: 10.1016/j.frl.2022.103080

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