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Lookup NU author(s): Khaled Alsaifi Alsaifi, Professor Marwa ElnahassORCiD, Dr Aly SalamaORCiD
This is the authors' accepted manuscript of an article that has been published in its final definitive form by Wiley , 2020.
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The outcome of carbon disclosure, the importance of which has grown remarkably in recent years to become a strategic decision-making issue for organisations in today’s competitive environment, is a subject of lively debate but remains under-researched in the environmental accounting literature. This study is motivated by this research gap and the growing interest in assessing the financial consequences of corporate involvement in climate change beyond regulatory compliance, as evidenced by firms’ voluntary participation in the Carbon Disclosure Project (CDP). Using the resource-based view (RBV) of the firm as a theoretical framework and linking it to carbon disclosure through CDP, we conceptualise and empirically investigate the impact of adopting proactive carbon management policies and communicating them to stakeholders, focusing on the financial performance of the top FTSE350 companies between 2007 and 2015. By developing a comprehensive financial performance index and controlling for several firm characteristics, we find strong evidence that voluntary carbon disclosure is positively associated with firm financial performance. The findings in this paper provide new insights and policy implications for managers, financial stakeholders, and regulators.
Author(s): Alsaifi K, Elnahass M, Salama A
Publication type: Article
Publication status: Published
Journal: Business Strategy and the Environment
Year: 2020
Volume: 29
Issue: 2
Pages: 711-726
Print publication date: 01/02/2020
Online publication date: 17/12/2019
Acceptance date: 14/11/2019
Date deposited: 16/11/2019
ISSN (print): 0964-4733
ISSN (electronic): 1099-0836
Publisher: Wiley
URL: https://doi.org/10.1002/bse.2426
DOI: 10.1002/bse.2426
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