Effects of emission trading schemes on corporate carbon productivity and implications for firm-level responses

Abstract Since the South Korean government enacted the Emission Trading Scheme (ETS), companies have been striving to simultaneously improve productivity and reduce carbon emissions, which represent conflicting goals. We used firm-level emissions and corporate variables to investigate how ETS enactm...

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Autores principales:	Hail Jung, Seyeong Song, Young-Hwan Ahn, Ha Hwang, Chang-Keun Song
Formato:	article
Lenguaje:	EN
Publicado:	Nature Portfolio 2021
Materias:	Medicine R Science Q
Acceso en línea:	https://doaj.org/article/58127629295e42be8cd7af587cb79a3d
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spelling	oai:doaj.org-article:58127629295e42be8cd7af587cb79a3d2021-12-02T18:24:53ZEffects of emission trading schemes on corporate carbon productivity and implications for firm-level responses10.1038/s41598-021-91193-42045-2322https://doaj.org/article/58127629295e42be8cd7af587cb79a3d2021-06-01T00:00:00Zhttps://doi.org/10.1038/s41598-021-91193-4https://doaj.org/toc/2045-2322Abstract Since the South Korean government enacted the Emission Trading Scheme (ETS), companies have been striving to simultaneously improve productivity and reduce carbon emissions, which represent conflicting goals. We used firm-level emissions and corporate variables to investigate how ETS enactment has affected carbon productivity, which is a firm-level revenue created per unit of carbon emission. Results showed that firm-level carbon productivity increased significantly under the ETS, and such a trend was more evident for high-emission industries. We also found that companies with high carbon productivity were (1) profitable, (2) innovative, and (3) managed by CEOs with experience in environmental fields. These findings suggest that to achieve the conflicting goals of increasing corporate profits while reducing emissions, firms have to invest in green technologies, and such decisions are supported by green leadership. Our findings also have implications for corporate leadership; data highlight the importance of managing human resources and deploying investment policies to respond to ETS.Hail JungSeyeong SongYoung-Hwan AhnHa HwangChang-Keun SongNature PortfolioarticleMedicineRScienceQENScientific Reports, Vol 11, Iss 1, Pp 1-10 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Medicine R Science Q
spellingShingle	Medicine R Science Q Hail Jung Seyeong Song Young-Hwan Ahn Ha Hwang Chang-Keun Song Effects of emission trading schemes on corporate carbon productivity and implications for firm-level responses
description	Abstract Since the South Korean government enacted the Emission Trading Scheme (ETS), companies have been striving to simultaneously improve productivity and reduce carbon emissions, which represent conflicting goals. We used firm-level emissions and corporate variables to investigate how ETS enactment has affected carbon productivity, which is a firm-level revenue created per unit of carbon emission. Results showed that firm-level carbon productivity increased significantly under the ETS, and such a trend was more evident for high-emission industries. We also found that companies with high carbon productivity were (1) profitable, (2) innovative, and (3) managed by CEOs with experience in environmental fields. These findings suggest that to achieve the conflicting goals of increasing corporate profits while reducing emissions, firms have to invest in green technologies, and such decisions are supported by green leadership. Our findings also have implications for corporate leadership; data highlight the importance of managing human resources and deploying investment policies to respond to ETS.
format	article
author	Hail Jung Seyeong Song Young-Hwan Ahn Ha Hwang Chang-Keun Song
author_facet	Hail Jung Seyeong Song Young-Hwan Ahn Ha Hwang Chang-Keun Song
author_sort	Hail Jung
title	Effects of emission trading schemes on corporate carbon productivity and implications for firm-level responses
title_short	Effects of emission trading schemes on corporate carbon productivity and implications for firm-level responses
title_full	Effects of emission trading schemes on corporate carbon productivity and implications for firm-level responses
title_fullStr	Effects of emission trading schemes on corporate carbon productivity and implications for firm-level responses
title_full_unstemmed	Effects of emission trading schemes on corporate carbon productivity and implications for firm-level responses
title_sort	effects of emission trading schemes on corporate carbon productivity and implications for firm-level responses
publisher	Nature Portfolio
publishDate	2021
url	https://doaj.org/article/58127629295e42be8cd7af587cb79a3d
work_keys_str_mv	AT hailjung effectsofemissiontradingschemesoncorporatecarbonproductivityandimplicationsforfirmlevelresponses AT seyeongsong effectsofemissiontradingschemesoncorporatecarbonproductivityandimplicationsforfirmlevelresponses AT younghwanahn effectsofemissiontradingschemesoncorporatecarbonproductivityandimplicationsforfirmlevelresponses AT hahwang effectsofemissiontradingschemesoncorporatecarbonproductivityandimplicationsforfirmlevelresponses AT changkeunsong effectsofemissiontradingschemesoncorporatecarbonproductivityandimplicationsforfirmlevelresponses
_version_	1718378096207331328

Effects of emission trading schemes on corporate carbon productivity and implications for firm-level responses

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