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This study aims to assess the informativeness of carbon emission data for the stock markets and the mediating role played by financial analysts and the quality of the governance on this issue.

Relying on structural equation modelling, the authors assess the relation between embedded CO₂ disclosure or CO₂ emissions disclosure and the stock market valuation (Tobin Q), considering the mediating roles played by financial analysts (external monitoring) and corporate governance (internal monitoring).

Results based on a sample of North American firms in the oil and gas industry are the following. The disclosure of embedded CO₂ is negatively associated with a firm’s market value, but this association is mediated by analyst following and corporate governance. The disclosure of yearly CO₂ emissions is also negatively related to stock market value, while corporate governance mediates this negative impact, and analysts following does not. Considering that yearly CO₂ emissions represent short-term environmental risks, whereas embedded CO₂ represents long-term environmental risks, it appears important to consider embedded CO₂ when studying the impact of carbon disclosure on firm value. The authors also show that a firm’s environmental performance (measured by Carbon Disclosure Project – CDP) is positively associated with two mediating variables (i.e. analyst following and corporate governance).

The study results suggest that CO₂ emissions information is less relevant than embedded CO₂ in attracting financial analysts when they are assessing a firm’s value because it represents short-term environmental risks, whereas embedded CO₂ represents long-term environmental risks. Therefore, the authors consider important to include embedded CO₂ when studying the impact of environmental disclosure on a firm’s value.

The authors assess the informativeness for stock markets of proven reserves of oil and gas, and embedded CO₂ in those reserves.

Based on a two-step regression approach, the authors attempt to test the relationship between proven reserves, CO₂ embedded in those reserves and the stock market value controlling for the selection bias (i.e. the decision of managers to disclose environmental information about embedded CO₂).

Results, based on a sample of the US and Canadian firms are the following. Proven reserves increase the firm’s value, while embedded CO₂ reduces the stock market value substantially. Furthermore, the decision of managers to disclose information about embedded CO₂ is positively related to analyst following, share price volatility, firm size, and institutional ownership.

The current study assesses the long-term incidence of embedded CO₂ (in oil and gas proven reserves) on firms’ stock market value, while most studies are focusing on yearly CO₂ emissions.

The purpose of this study is to determine if blockchain-supported carbon offset information provision and shipping options with different cost and environmental footprint implications impact consumer perceptions toward retailers and logistics service providers. Blockchain and carbon neutrality, each can be expensive to adopt and complex to manage, thus getting the “truth” on decarbonization may require additional costs for consumers.

Experimental modeling is used to address these critical and emergent issues that influence practices across a set of supply chain actors. Three hypotheses relating to the relationship between blockchain-supported carbon offset information and consumer perceptions and intentions associated with the product and supply chain actors are investigated.

The results show that consumer confidence increases when supply chain carbon offset information has greater reliability, transparency and traceability as supported by blockchain technology. The authors also find that consumers who are provided visibility into various shipping options and the product's journey carbon emissions and offset – from a blockchain-supported system – they are more willing to pay a premium for both the product and shipping options. Blockchain-supported decarbonization information disclosure in the supply chain can lead to organizational legitimacy and financial gains in return.

Understanding consumer action and sustainable consumption is critical for organizations seeking carbon neutrality. Currently, the literature on this understanding from a consumer information provision is not well understood, especially with respect to blockchain-supported information transparency, visibility and reliability. Much of the blockchain literature focuses on the upstream. This study focuses more on consumer-level and downstream supply chain blockchain implications for organizations. The study provides a practical roadmap for considering levels of blockchain information activity and consumer interaction.

This paper aims to explore the relationship between external environmental reporting (EER) and internal strategies, processes and activities (ISPA) to understand the role EER plays in embedding sustainability into organisational practices.

The case study considered how carbon measures associated with the carbon emissions management and reporting scheme (CEMARS) embedded sustainability into organisational practices in a family-owned wine company. Evidence collected during semi-structured interviews with informed employees was triangulated with observational data, field notes and documentary evidence.

A dynamic relationship was found between EER and ISPA, which embedded sustainability into organisational practices and promoted the developments of environmental reporting. CEMARS data were embedded into production management, capital expenditure and budget review processes, whereas more frequent EER was required by managers to support their operational activities. The company at times relied on an eco-validation approach to justify sustainability decisions despite their negative impact on short-term profit. EER contributed to the strategic planning, target setting and control functions of the management control systems.

Sustainability research should simultaneously address EER and ISPA. The interplay between the two dimensions determines whether sustainability is embedded in organisations and whether organisations will act in a sustainable manner.

The practical implication of the research is that organisations need to integrate EER information into ISPA if they want managers to establish patterns of behaviour that simultaneously consider the financial and environmental impacts of decisions. An EER such as CEMARS can provide coherence and focus for sustainability initiatives.

This research reveals that sustainability is embedded into organisations through the interactions between EER and ISPA, thus contributing to the understanding of internal organisational change. It identifies an eco-validation approach to decision-making that complements the eco-efficiency approach and shows that EER need not operate independent of internal processes and can be integrated into management control systems.

This paper aims to explore the pathways of carbon transfer in 200 US corporations along with the motivations that drive such transfers. The particular focus is on each firm’s embeddedness in the global value chain (GVC) and the influence of environmental law, operational costs and corporate social responsibility (CSR). The insights gleaned bridge a gap in the literature surrounding GVCs and corporate carbon transfer.

The methodology comprised a two-step research approach. First, the authors used a two-sided fixed regression to analyse the relationship between each firm’s embeddedness in the GVC and its carbon transfers. The sample consisted of 217 US firms. Next, the authors examined the influence of environmental law, operational costs and CSR on carbon transfers using a quantitative comparison analysis. These results were interpreted through the theoretical frameworks of the GVC and legitimacy theory.

The empirical results indicate positive relationships between carbon transfers and GVC embeddedness in terms of both a firm’s position and its degree. From the quantitative comparison, the authors find that the pressure of environmental law and operational costs motivate these transfers through the value chain. Furthermore, CSR does not help to mitigate transfers.

The findings offer insights for policymakers, industry and academia to understand that, with globalised production and greater value creation, transferring carbon to different parts of the GVC – largely to developing countries – will only become more common. The underdeveloped nature of environmental technology in these countries means that global emissions will likely rise instead of fall, further exacerbating global warming. Transferring carbon is not conducive to a sustainable global economy. Hence, firms should be closely regulated and given economic incentives to reduce emissions, not simply shunt them off to the developing world.

Carbon transfer is a major obstacle to effectively reducing carbon emissions. The responsibilities of carbon transfer via GVCs are difficult to define despite firms being a major consideration in such transfers. Understanding how and why corporations engage in carbon transfers can facilitate global cooperation among communities. This knowledge could pave the way to establishing a global carbon transfer monitoring network aimed at preventing corporate carbon transfer and, instead, encouraging emissions reduction.

This study extends the literature by investigating carbon transfers and the GVC at the firm level. The authors used two-step research approach including panel data and quantitative comparison analysis to address this important question. The authors are the primary study to explore the motivation and pathways by which firms transfer carbon through the GVC.

This study examines how carbon tools, including carbon accounting and management tools, can be created, used, modified and linked with other traditional management controls to materialise and effectuate organisations’ response strategies to multiple interacting logics in carbon management and the role of sustainability managers in these processes.

This study utilises the construct of accounting toolmaking, which refers to practices of adopting, adjusting and reconfiguring accounting tools to unfold how carbon tools are used as means to materialise responses to multiple interacting carbon management logics. It embraces a field study approach, whereby 38 sustainability managers and staff from 30 organisations in New Zealand were interviewed.

This study finds that carbon toolmaking is an important means to materialise and effectuate organisations’ response strategies to multiple interacting carbon management logics. Four response strategies are identified: separation, selective coupling, combination and hybridisation. Adopting activity involves considering the additionality, detailing, localising and cascading of carbon measures and targets and their linkage to the broader carbon management programme. In adjusting carbon tools, organisations adapt the frequency and orientation of carbon reporting, intensity of carbon monitoring and breadth of carbon information sharing. Through focusing on either procedural sequencing, assimilating, equating or integrating, toolmaking reconfigures the relationship between carbon tools and traditional management control systems. Together, these three toolmaking activities can be configured differently to construct carbon tools that are fit for purpose for each response strategy. These activities also enact certain roles on sustainability managers in the process of representing, communicating and/or transferring carbon information knowledge, which also facilitate different response strategies.

The study demonstrates the various carbon toolmaking practices that allow organisations to handle the multiple interacting logics in carbon management. The findings provide suggestions for organisations on how to adopt, adjust and reconfigure carbon tools to better embed the ecological logic in organisations’ strategies and operations.

The authors identify how carbon toolmaking materialises and effectuates organisations’ responses to multiple interacting logics in carbon management.

Blockchain is a disruptive technology that has matured to deliver robust, global, IT systems, yet adoption lags predictions. The authors explore barriers to adoption in the context of a global challenge with multiple stakeholders: integration of carbon markets. Going beyond the dominant economic-rationalistic paradigm of information system (IS) innovation adoption, the authors reduce pro-innovation bias and broaden inter-organizational scope by using technological frames theory to capture the cognitive framing of the challenges perceived within the world’s largest carbon emitter: China.

Semi-structured interviews with 15 key experts representing three communities in China’s carbon markets: IT experts in carbon markets; carbon market experts with conceptual knowledge of blockchain and carbon market experts with practical blockchain experience.

Perceived technical challenges were found to be the least significant in explaining adoption. Significant challenges in five areas: social, political legal and policy (PLP), data, organizational and managerial (OM) and economic, with PLP and OM given most weight. Mapping to frames developed to encompass these challenges: nature of technology, strategic use of technology and technology readiness resolved frame incongruence that, in the case explored, did not lead to rejection of blockchain, but a decision to defer investment, increase the scope of analysis and delay the adoption decision.

Increases scope and resolution of IS adoption research. Technological frames theory moves from predominant economic-rational models to a social cognitive perspective. Broadens understanding of blockchain adoption in a context combining the world’s most carbon emissions with ownership of most blockchain patents, detailing socio-technical challenges and delivering practical guidance for policymakers and practitioners.

One of the most critical and active research areas in the field of climate change in recent years has been the interaction between land use and carbon emissions (LUCE). As there is a lack of data to represent the knowledge structure and evolution of LUCE between 1987 and 2018, this paper turned to CiteSpace in order to identify and visualize the cited references and keyword networks, the distribution of categories and countries and highly cited references in connection to LUCE research. Two indicators, betweenness centrality (BC) and citation burst (CB) embedded in CiteSpace, were utilized to investigate the knowledge structures.

Two indicators, BC and CB embedded in CiteSpace, were introduced to investigate the knowledge structures.

Firstly, pre-2000 papers provide the main theoretical foundation for LUCE research, and the innovation of computer technology also provides new ideas and methods for related research. Secondly, greenhouse gas emissions from agriculture are attracting more attention. As agriculture also involves food security, the pressure on agriculture to reduce carbon is enormous, and more research and policy investment will be needed in the future. Thirdly, although the natural sciences ranked highly on BC detection, social and humanities sciences have contributed more to the LUCE research with an increasing emphasis on regional and global governance to combat climate change. Finally, keen interest in carbon emissions and sustainable development in developed countries, particularly in Europe, has led to a large number of LUCE studies. Research being done in developing countries that are most affected by climate change is also outstanding.

The results collected will assist scientific researchers to better understand the research status and frontier trends in this sector, thus permitting researchers to comprehend current research interests in the LUCE analysis field and providing useful information for further investigation and publication strategies.

In acknowledging the reality of climate change, large firms have set internal and external (supplier oriented) targets to reduce their greenhouse gas emissions. This study aims to explore the complex processes behind the evolution and diffusion of carbon reduction strategies in supply networks.

The research uses complex adaptive systems (CASs) as a theoretical framework and presents a single case study of a focal buying firm and its supply network in the food sector. A longitudinal and multilevel analysis is used to discuss the dynamics between the focal firm, the supply network and external environment.

Rather than being a linear and controlled process of adoption implementation outcomes, the transition to reduce carbon in a supply network is much more dynamic, emerging as a result of a number of factors at the individual, organisational, supply network and environmental levels.

The research considers the emergence of a carbon reduction strategy in the food sector, driven by a dominant buying firm. Future research should seek to investigate the diffusion of environmental strategies more broadly and in other contexts.

Findings from the research reveal the limits of the control that a buying firm can exert over behaviours in its network and show the positive influence of consortia initiatives on transitioning to sustainability in supply networks.

CAS is a fairly novel theoretical lens for researching environmental supply network dynamics. The paper offers fresh multilevel insights into the emergent and systemic nature of the diffusion of environmental practices in supply networks.