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

Lu, Wenting; Zhu, Naiping; Zhang, Jing

doi:10.3390/en14144126

Cited by 22 publications

(23 citation statements)

References 51 publications

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“…The results show that carbon performance can positively affect financial performance, which means that the better of carbon performance will promote the better of financial performance. This outcome of the study is in line with the prior work of He et al (2017) , Gaigné et al (2020) , Zhu and Zhang (2022) , Lu et al (2021) , Li and Lin (2021) , Yuan and Guangpei (2021) , and technological innovation can also positively affect financial performance significantly. In other words, both carbon performance and technological innovation are driving factors of corporate financial performance.…”

Section: Discussionsupporting

confidence: 87%

“…The reduction of carbon emissions leads to the reduction of energy consumption ( He et al, 2017 ), especially for energy companies, which can continue the capture of corporate value. Lu et al (2021) found that the positive impact of carbon disclosure on financial performance can be extended to the next period. Therefore, formulating active and effective carbon strategies can not only adapt to today’s development trends, but also meet the needs of stakeholders.…”

Section: Related Literature and Hypothesis Developmentmentioning

confidence: 99%

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The synergistic effect of carbon performance and technological innovation on corporate financial performance

Yan

Zhou

et al. 2022

Front. Psychol.

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In order to further implement the goal of “dual carbon” proposed by China’s government, and promote energy enterprises to carry out low-carbon economic transformation, this paper takes listed companies in China’s A-share energy industry from 2014 to 2019 as samples to conduct descriptive statistics, correlation test and regression analysis, and empirically studies the impact of carbon performance and technological innovation on financial performance of China’s energy industry as well as their roles under different property rights. At the same time, the variables were delayed for one period to investigate the sustainability of carbon performance and technological innovation on financial performance and to weaken the endogeneity of the reverse causality between financial performance, carbon performance and technological innovation. The results show that good carbon performance and technological innovation in the energy industry can positively affect the financial performance of enterprises. During the research of interactive relationship, we find that carbon performance and technological innovation have synergistic effect on energy firm’s financial performance, which means technology innovation can significantly positive to adjust the action of carbon performance on financial performance,and carbon performance at the same time can also be positive to adjust the action of technology innovation on financial performance. They mutually promote energy enterprise’s financial performance. Further experimental research among different property- rights-owned enterprises, we found that the synergistic effects of carbon performance and technological innovation on corporate financial performance is much more significant in non-state-owned enterprises, possibly due to private firms’ capital profit-seeking nature. The results will guide and inspire China’s energy enterprises’ low carbon development strategy formulation and implementation under the background of “dual carbon” goal.

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Section: Discussionsupporting

confidence: 87%

Section: Related Literature and Hypothesis Developmentmentioning

confidence: 99%

The synergistic effect of carbon performance and technological innovation on corporate financial performance

Yan

Zhou

et al. 2022

Front. Psychol.

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“…Scaling down the big picture at the level of businesses, more and more companies choose to disclose carbon information, respond to the national policy of carbon emis-sion reduction and focus on the sustainable development of enterprises. The paper of Lu et al [6] investigates 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.…”

Section: Scientific Contribution Of This Special Issue: a Brief Overviewmentioning

confidence: 99%

Energy Systems Analysis and Modelling towards Decarbonisation

Fragkos

Siskos

2022

Energies

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“…Companies gain more than they might anticipate from carbon information measurement and publication [ 18 ]. For instance, effective carbon disclosure can assist businesses in managing their financial risk [ 19 ]. Carbon disclosure will considerably lower the cost of corporate borrowing for companies with subpar carbon performance [ 20 ].…”

Section: Introductionmentioning

confidence: 99%

Research on Voluntary Carbon Information Disclosure Mechanism of Enterprises from the Perspective of Stakeholders—A Case Study on the Automobile Manufacturing Industry

Guo

Pan

2022

IJERPH

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As the primary source of carbon emissions, enterprises must work hard to save energy, reduce emissions, and disclose timely carbon information to the public. As a key means of communicating carbon management performance to stakeholders, carbon information disclosure is directly tied to the future sustainability of enterprises. Based on panel data of 118 listed firms in the automotive manufacturing industry from 2017 to 2021, this study rates the sample companies’ quality of carbon information disclosure. The impact of the government, creditors, media, employees, and suppliers on such disclosure is also examined from the stakeholders’ standpoint. The findings reveal that: (1) Although there has been a gradual increase in the degree of disclosure, overall levels are still low, and the willingness to voluntarily disclose is insufficient. (2) When other variables are neglected, the government, creditors, media, and employees all assist enterprises in disclosing carbon information, but the influence of suppliers will inhibit such disclosure. In the context of a complex economic system, the level of carbon disclosure is positively correlated with the government, the media, and employees, while negatively correlated with creditors. The influence of suppliers is not significant. These findings may aid in formulating related policies from different dimensions, directing enterprises to publish carbon information actively and strengthening carbon management.

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

Cited by 22 publications

References 51 publications

The synergistic effect of carbon performance and technological innovation on corporate financial performance

The synergistic effect of carbon performance and technological innovation on corporate financial performance

Energy Systems Analysis and Modelling towards Decarbonisation

Research on Voluntary Carbon Information Disclosure Mechanism of Enterprises from the Perspective of Stakeholders—A Case Study on the Automobile Manufacturing Industry

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