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Potential model to support the achievement of corporate carbon neutrality

Ferenc Bognar () and Elvira Bocskei ()
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Ferenc Bognar: PhD, Scientific Associate, Budapest University of Technology and Economics, Department of Management and Business Economics
Elvira Bocskei: PhD, Habilitated Associate Professor, Head of Department, Budapest University of Technology and Economics, Department of Finance

Public Finance Quarterly, 2022, vol. 67, issue 3, 379 - 395

Abstract: The new geopolitical and energy market situation calls for implementing the European Commission's package of measures - "Fit for 55" - and the further acceleration of the green transition. The European Commission's REPower plan focuses on the difficulties caused by the Russian invasion of Ukraine and the energy market disturbances, focusing on energy savings, the search for alternative energy sources, and encouraging investments that provide clean energy. The successful implementation of decarbonization processes can be the cornerstone of mitigating (solving) global supply disruptions. In our article, based on the methodology of internationally known sustainability models, we propose developing a novel, controlling system to motivate organizations to achieve net zero emissions. The evaluation system fits the GHG protocol's criteria, considers the results of all three Scopes, provides the opportunity for benchmarking and stress testing, and visually supports the management's decisions. The creation of the new model is especially necessary in a period fraught with geopolitical tensions, when the price and availability of individual energy carriers can change dramatically and rapidly.

Keywords: sustainability risk; carbon accounting; GHG protocol; risk assessment; CDP (search for similar items in EconPapers)
JEL-codes: D81 G30 Q51 (search for similar items in EconPapers)
Date: 2022
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Handle: RePEc:pfq:journl:v:67:y:2022:i:3:p:379-395