Time/时间：5月9日（周五）10:00-11:30
Venue/地点：Room 501, Jiageng Building 2/嘉庚二号楼501教室
Topic/题目：Climate Regulatory Risk and Firm Commitments: Evidence from the US State-Level Climate Mitigation Plans
Speaker/报告人：车逸行助理教授
Abstract/摘要：
In this study, we examine how firms respond to climate regulatory risk imposed by climate-related regulations. Specifically, we investigate the influence of the finalization of state-led climate change adaptation plan (SCAP) in the US on firms’ climate commitment. We find that firms’ commitment to voluntary carbon performance disclosure to the Carbon Disclosure Project (CDP) significantly improves after the SCAP. We also find that a firm’s commitment to voluntary climate performance disclosure is associated with tangible efforts to reduce carbon emissions. This suggests that firms are not only “talking the talk” but also “walking the walk” under climate regulation, taking concrete actions to contribute to climate change mitigation. However, we also uncover a concerning trend wherein some firms strategically use disclosure tactics to divert investors’ attention while reducing actual green innovation efforts. While this approach may provide short-term benefits, it raises concerns about its sustainability for long-term emission reduction goals. Our research has significant policy implications, especially regarding the SEC’s proposal to mandate climate-related disclosures in financial statements. Additionally, understanding the impact of environmental policies on firms’ disclosure practices and financial performance can guide investors in making informed decisions and foster sustainability in the business sector. Overall, our study provides valuable insights into the complex relationship between climate regulatory risks, disclosure practices, and environmental commitments of firms, highlighting the need for transparent and genuine efforts towards mitigating climate change and promoting a more sustainable future.
About the Speaker/报告人简介:
车逸行，会计学博士，现任厦门大学财务管理与会计研究院助理教授，博士毕业于加拿大滑铁卢大学会计学专业，硕士及本科毕业于美国伊利诺伊大学香槟分校会计学专业。研究方向主要聚焦于创新、ESG议题、人工智能、信息披露与供应链管理等领域。