Firm Commitments

Patrick Bolton and Marcin Kacperczyk

No 31244, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: A growing fraction of companies globally have made commitments to reduce their carbon emissions by a certain date. While the companies that make commitments subsequently reduce their emissions, the effect on overall emissions of companies (including those that do not commit) has been small; the companies that commit, and those that make the most ambitious commitments, tend to have lower emissions; firm commitments are less prevalent in countries where governments have made national commitments. Overall, the commitment movements have been successful in drawing the willing but have found greater resistance from the companies that most need to reduce their emissions.

JEL-codes: D62 D82 G23 G30 (search for similar items in EconPapers)
Date: 2023-05
New Economics Papers: this item is included in nep-cfn and nep-env
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