Edited by Sabri Boubaker, Douglas Cumming and Duc K. Nguyen
Chapter 17: What explains voluntary corporate carbon disclosures in emerging markets?
The main purpose of this chapter is to investigate the association between a firm’s voluntary carbon disclosures and the internal and external factors that influence this decision in the context of emerging countries. We rely on the Carbon Disclosure Project (CDP) annual survey to examine this research issue. Based on a sample of firms from four emerging economies (Brazil, India, Turkey and South Africa), our empirical analyses provide evidence that transparency at the country level has a positive effect on the propensity to provide voluntary carbon disclosures to the CDP. At the firm level, we find that financial performance and US cross-listing are positively associated with the likelihood of voluntary carbon disclosures while emerging markets firms with newer assets are more likely to respond to the CDP annual survey. We discuss the implications of our results to firms’ managers, investors as well as national and international regulators.
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