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| Author: | Kim, E.H. Lyon, T.P. |
| Title: | Strategic environmental disclosure: evidence from the DOE's voluntary greenhouse gas registry |
| Journal: | Journal of Environmental Economics and Management
2011 : MAY, VOL. 61:3, p. 311-326 |
| Index terms: | pollution control air pollution disclosure USA environmental economics |
| Freeterms: | electric utilities |
| Language: | eng |
| Abstract: | Even though mandatory disclosure programs have been extensively studied, decent understanding of strategic voluntary environmental disclosures by firms have not been reached. We examine the motivations for and effects of firms' strategic disclosure of greenhouse gas reductions to the US government. First, firms' joint abatement and disclosure decisions are modeled, including both economic and political incentives. Then, data from the Department of Energy's Voluntary Greenhouse Gas Registry is used to compare reported reductions to actual emissions. We find that the program's participants apply highly selective reporting: in the aggregate, they increase emissions over time, however report reductions. On the contrary, non-participants decrease emissions over time. Participants are typically large firms, who face strong regulatory pressure, whereas pressure from environmental groups was found to reduce the likelihood of participation, suggesting the groups viewed the program as greenwash. Participating in the 1605(b) program didn't significantly affect a firm's changes in carbon intensity over time. |
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