Limits to Private Climate Change Mitigation

Dalya Elmalt and Divya Kirti
Authors registered in the RePEc Author Service: Deniz Igan

No 16061, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: In the absence of sufficient support for carbon taxes, a more sustainable approach to finance—one that incorporates environmental, social, and governance (ESG) considerations—could be part of the way forward to address climate change. However, our analysis suggests that ESG scores tend to reflect what firms say they (will) do, not what they actually do, to contain their carbon footprints and do not capture differences across firms in their contributions to climate change. Continued efforts to build consensus for effective economy-wide policies targeting carbon emissions remain crucial.

Keywords: Sustainable investing; ESG; Major upstream emitters; Climate change mitigation (search for similar items in EconPapers)
JEL-codes: G30 Q54 (search for similar items in EconPapers)
Date: 2021-06
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Working Paper: Limits to Private Climate Change Mitigation (2021)
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