The Impact of Carbon Disclosure on Financial Performance under Low Carbon Constraints

Wenting Lu, Naiping Zhu and Jing Zhang
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Wenting Lu: School of Finance & Economics, JiangSu University, No. 301 Xuefu Road, Jingkou District, Zhenjiang 212013, China
Naiping Zhu: School of Finance & Economics, JiangSu University, No. 301 Xuefu Road, Jingkou District, Zhenjiang 212013, China
Jing Zhang: School of Finance & Economics, JiangSu University, No. 301 Xuefu Road, Jingkou District, Zhenjiang 212013, China

Energies, 2021, vol. 14, issue 14, 1-19

Abstract: In the context of low-carbon constrained development, in order to avoid the risk brought by climate change, more and more companies choose to disclose carbon information, respond to the national policy of carbon emission reduction and focus on the sustainable development of enterprises. This paper will investigate the impact of carbon disclosure on financial performance based on the 2011–2018 CDP report, taking the Fortune 500 companies as a sample. The study finds that for carbon-intensive industries, carbon disclosure cannot significantly contribute to the improvement of financial performance in the current period, but for carbon-non-intensive industries, carbon disclosure can significantly contribute to the improvement of financial performance in the current period, and the positive impact of carbon disclosure on financial performance in the current period can be extended to the next period. Finally, based on the findings of the empirical study, this paper puts forward policy recommendations for the construction of China’s carbon disclosure system.

Keywords: fortune 500; carbon disclosure; financial performance (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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