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This study aims to explore the impact of carbon neutral announcements on “stock market value” of publicly listed companies in China.

The event study approach is adopted. Market, market-adjusted, Carhart four-factor model and a cross-sectional regression model are employed to examine the impacts of carbon neutral announcements on “stock market value” of Chinese companies based on data from 188 carbon neutral announcements.

Carbon neutral announcements positively impact Chinese shareholder value. Carbon neutral announcements at the strategic level have a more positive and significant impact on Chinese stock market value. Innovative carbon neutral announcements do not significantly cause Chinese stock market reactions. Companies have more positive and significant stock market reactions when the companies make carbon neutral announcements that reflect high supply chain network resilience and heterogeneity and strong supply chain network relationships.

The findings uncover the business value of carbon neutral activities and provide operations managers in developing countries insights into how to improve enterprises' market value by actively implementing carbon neutral activities.

This paper is the first trial to apply an event study to examine the relationship between carbon neutral announcements and Chinese stock market value from the perspective of announcement level and type and supply chain networks. This paper introduces corporate reputation theory and enriches the application of corporate reputation theory in the field of low-carbon environmental protections and supply chains.

This study aims to examine the relationship between carbon reduction initiatives and financial performance. Additionally, it explores potential moderating variables, such as corporate social responsible (CSR) strategy and corporate governance practices, that may strengthen the link between carbon reduction initiatives and financial performance.

The empirical analysis is conducted using 1,740 firm-year observations from UK firms listed on the FTSE 350. Data on carbon emissions and firm-specific characteristics are obtained from the Refinitiv Eikon database for the period 2011–2020. Various econometric techniques, including ordinary least squares and system generalized method of moments, are used to examine the relationship between carbon reduction initiatives and financial performance. Additionally, alternative samples are used to further explore this relationship.

The author observes a significantly positive association between carbon reduction initiatives and financial performance in this study. Additionally, the significance of this relationship is found to be present specifically after the announcement of the Paris Agreement. Furthermore, a channel analysis reveals that moderating factors like CSR strategy and corporate governance quality influence this relationship.

The study underscores the importance of carbon reduction initiatives for sustainable business growth and financial performance. Managers can use these insights to prioritize investments in sustainable practices. Policymakers should consider implementing supportive regulations to incentivize companies to adopt carbon reduction strategies.

This study adds value to the existing body of literature by empirically examining the moderating role of CSR strategy and best corporate governance practices in the relationship between carbon reduction initiatives and financial performance. The findings contribute to a deeper understanding of how these factors interact and influence the outcomes.

This study explores the impact of carbon neutrality policies on Chinese stock market from a supply chain perspective. Specifically, the carbon policy refers to the Action Plan for Carbon Dioxide Peaking Before 2030 (the Plan) in China.

This paper is based on the resource dependence theory (RDT) and applies the event study methodology to explore the impact. It uses the cross-sectional regression model to reveal the moderating effect of supply chain characteristics on the stock market reaction with a data set of 354 listed companies in A-shares (excluding ChiNext and SME board).

The promulgation of the Plan shows a significant negative stock market reaction. Customer concentration, out-degree centrality and smart supply chains (SSCs) have a significant negative moderating effect. In-degree centrality and supplier concentration have a significant positive moderating effect. Furthermore, the conclusions concerning out-degree centrality, supplier concentration and SSCs are counterintuitive.

For policymakers, the study results provide a reference for evaluating the carbon neutrality policy. For managers, this study provides theoretical support for strategically adjusting and designing supply chain structures in the context of advocating peak carbon dioxide emissions and carbon neutrality.

This paper is the first attempt that includes the supply chain structure factors into the impact of carbon neutrality policies on the stock market.

This study aims to illustrate the impact-assessment procedure of low-carbon tourism (LCT) program implemented in a world heritage city and to develop specific indicators toward sustainability.

The impact-assessment framework was indicator-based and designed for creating sustainable tourism (ST) in a case study. A set of indicators in various dimensions was developed and applied, referring to the UNWTO guideline. A mixed method of primary and secondary data collected from different sources included document review, site observation, key informant interview, questionnaire survey and focus-group discussions. Assessment of actual/observed impacts was proceeded based on the data collected from tourists and stakeholders, especially on tourist behaviors and resource consumptions.

The implementation of LCT program in a world heritage city provided impacts in different dimensions and characters. The observed activities were majorly tourism activities in accommodations and recreational places. The indicator initiation is the first development toward sustainability in a case of tourism study in a city destination. Indicators were developed with participation from key stakeholders and covered sustainability and carbon-emission dimensions. Impact-assessment results show a positive theme in less carbon emission, enhanced local income distribution and community capacity. However, the negative impacts include increased amounts of resource consumption and waste generation in visiting sites. The impact matrix works as the map for decision-makers to maximize benefits and manage the cons of the LCT program toward ST principles.

Research methodology, procedure and results on impact assessment with holistic perspectives imply academic contribution and practical benefits for decision-makers regarding ST development. The number of samples and enterprises was limited because of the program implementation period.

The research illustrates the impact-assessment process for an implemented city-based LCT program toward ST, where stakeholder participation was also functioning. A list of indicators was specially designed and can be practically applied for other LCT programs in city destinations. Applying a sustainability impact-assessment framework to the program can provide a clear presentation on how to develop ST.

This paper aims to build a scientific evaluation index system for regional low-carbon circular economic development. Taking Sichuan Province as the empirical research object, the paper evaluates its low-carbon circular economy (LCCE) development level and proposes policy recommendations for climate change improvement based on the evaluation results.

This paper, first, built an evaluation index system with 30 indicators within six subsystems, namely, economic development, social progress, energy consumption, low-carbon emissions, carbon sink capacity and environmental carrying capacity. Second, develop an “entropy weight-grey correlation” evaluation method. Finally, from a practical point of view, measure the development level of LCCE in Sichuan Province, China, from 2008 to 2018.

It was found that Sichuan LCCE development had a general downward trend from 2008 to 2012 and a steady upward trend from 2012 to 2018; however, the overall level was low. The main factors affecting the LCCE development are lagging energy consumption and environmental carrying capacity subsystem developments.

This paper puts forward relevant suggestions for improving the development of a low-carbon economy and climate change for the reference of policymakers.

This paper built an evaluation index system with 30 indicators for regional low carbon circular economic development. The evaluation method of “entropy weight-grey correlation” is used to measure the development level of regional LCCE in Sichuan Province, China.

This chapter investigates the trends in international and European legal and policy regulation of the process related to carbon capture and storage (CCS). The global endeavor that seeks to limit carbon dioxide emissions has come to recognize CCS as an indispensable ally. This chapter offers an up-to-date and comprehensive commentary to the relatively new and developing area of international regulation of the process of CCS, a dimension that might yield significant effects on the environment and, overall, sustainable development. It reveals a constantly growing trend of an enhanced awareness about the indispensable role and effects of the CCS on wider climate aspirations and, to that effect, also a need for a stable and effective international regulatory framework. The key barriers that are preventing the wider implementation of CCS projects, however, relate primarily to two extra-regulatory processes, which is the policy uncertainty at national levels and financial shortcomings. This background presents a window of opportunity for entrepreneurship and policy invention.

In this study, the authors provide a systematic literature review of articles in the emerging areas of green finance and discuss the status and challenges in sustainability disclosure, which is crucial for the efficiency of green financial instruments. The authors then review the literature on the economic implications of green finance and outline future research directions.

The authors use the analytical framework – Search, Appraisal, Synthesis, and Analysis (SALSA) to conduct the systematic review of the literature.

Increasing public attention to the environment motivates the use of green finance to fund environmentally sustainable projects, and the rise of green finance intensifies the demand for environmental disclosure. Literature has documented tremendous growth in sustainability reporting over time and around the globe, as well as raised concerns about how such reporting lack consistency, comparability, and assurance. Despite these challenges, the authors find that in general, the literature agrees that a firm’s green practice is positively associated with its financial performance and negatively related to a firm’s cost of capital. Green finance is also found to bring about enhanced risk management and economic development.

The authors provide one of the first reviews of green finance, sustainability disclosure and the impact of green finance on financial performance, capital market and economic development.