Firm Commitments

• 成果类型: Article; Early Access
• 署名作者: Bolton, Patrick; Kacperczyk, Marcin
• 署名单位: Imperial College London; Center for Economic & Policy Research (CEPR); Columbia University
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.2024.07298
• 发表日期: 2025
• 关键词: commitment; carbon emissions; science-based and CDP targets

摘要

A growing fraction of companies globally have made commitments to reduce their carbon emissions by a certain date. Whereas 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.