Are reported greenhouse gas emissions influencing corporate financial performance?

Research Question: This paper aims to analyse the impact of reported greenhouse gas (GHG) emissions on financial performance of companies operating in the chemical industry from Central-Eastern Europe over the period 2015-2019. Motivation: Currently, the climate change and global warming have become highly topical due to their progressively visible destructive effects worldwide on the environment, society, and economic activity. Idea: To offer the suitable information to all its stakeholders, each company should identify the necessary information, measure it, make it useful, and take reasonable steps to ensure that it’s accurate; our research investigates the effect of reported greenhouse gas emissions on return on sales, as a measure of business performance. Data: The paper is based on panel data extracted from non-financial and/or annual reports for the top 10 largest companies operating in the chemical industry geographically located in Central-Eastern Europe covering the time frame 2015-2019. The final sample consists of 34 firms and 134 firm-year observations. Tools: A multiple linear regression model was designed and applied, having return on sales as the dependent variable and GHG emissions as the independent variable. Findings: The findings of our study confirm that a lower level of GHG emissions will generate an increase in return on sales, consequently, the environmental performance reported in terms of controlling for GHG emissions enhances the financial performance measured as return on sales ratio. Contribution: The paper contributes to the literature on climate change, revealing a negative, but significant effect of GHG emissions on financial performance and endorsing that companies which today pay less attention to this global concern, tomorrow will face difficulties in terms of sales.

Download Full-text

AGRICULTURE IN THE FACE OF CLIMATE CHALLENGES – THE PROBLEM OF GREENHOUSE GAS EMISSIONS

Annals of the Polish Association of Agricultural and Agribusiness Economists ◽

10.5604/01.3001.0013.2178 ◽

2019 ◽

Vol XXI (2) ◽

pp. 246-255

Author(s):

Hanna Pondel

Keyword(s):

Climate Change ◽

Greenhouse Gas Emissions ◽

Greenhouse Gas ◽

Negative Impact ◽

Ghg Emissions ◽

Plant Production ◽

Agricultural Activity ◽

Negative Consequences ◽

Gas Emissions ◽

Local Conditions

Changes in seasonal weather cycles, a growing number of extreme phenomena, an upward trend in temperature and changes in the distribution of rainfall, significantly affect the functioning and effectiveness of agriculture. However, agriculture plays a major role in the emergence and intensification of these phenomena. The aim of the article is to present, analyse and evaluate the relations between agriculture and climate, with particular emphasis on greenhouse gas (GHG) emissions from agriculture in these relations. A cause-and-effect analysis was conducted based on literature studies, using the descriptive statistics method and analysis of the development trend. The basis for analysis were data on GHG emissions in the European Union (EU-28). The contribution of agriculture to the EU’s greenhouse gas emissions, albeit slightly but still increasing in recent years. The level of this emission is determined primarily by the type of agricultural activity conducted – animal production is definitely responsible for higher emissions than plant production. It is difficult to present a universal model of agricultural adaptation to climate change and a set of actions limiting the negative impact of agricultural production on climate. This is hindered by both the specificity of the agricultural sector and the large diversity of local conditions and applied farming practices. The opportunity to increase the effectiveness of actions taken may be a better connection between the implementation of objectives including the reduction of the causes and negative consequences of climate change and the objectives of sustainable agricultural development.

Download Full-text

Sources of Greenhouse Gas Emissions in Agriculture, with Particular Emphasis on Emissions from Energy Used

Energies ◽

10.3390/en14133784 ◽

2021 ◽

Vol 14 (13) ◽

pp. 3784

Author(s):

Piotr Gołasa ◽

Marcin Wysokiński ◽

Wioletta Bieńkowska-Gołasa ◽

Piotr Gradziuk ◽

Magdalena Golonko ◽

...

Keyword(s):

Climate Change ◽

Greenhouse Gas Emissions ◽

Greenhouse Gas ◽

Energy Use ◽

Ghg Emissions ◽

Farm Income ◽

Minor Importance ◽

Intergovernmental Panel ◽

Gas Emissions ◽

Emission Volume

The relationship between agriculture and climate change is two-sided. Agriculture is the branch of the economy most affected by the ongoing processes. It is also a large emitter of greenhouse gases and there are more and more voices about the need to reduce emissions. The purpose of the study was, based on FADN (Farm Accountancy Data Network) data, to determine the structure of greenhouse gas emissions in farms and to identify types of farms where it is possible to reduce GHG (greenhouse gas) emissions through better energy use. The emission volume was determined on the basis of the IPCC (Intergovernmental Panel on Climate Change) methodology modified for the FADN data. The emissions related to the production of energy were found to be of minor importance compared to other emission sources. Only in the horticultural crop type is the emission from the Energy section the dominant stream of GHG emission. The greatest emissions come from livestock production. Therefore, the emphasis on reducing emissions should not be placed on the Energy sector because, except for the type of horticultural farm, there is not much potential for reduction. The introduction of taxes for GHG emissions at the level of 27.31 EUR/t would reduce farm income from 21% for the type of field crops to 40% for the type of herbivorous animals. The exception is low-emission permanent crops, where the decrease in income would be only 3.85%.

Download Full-text

Climate Change in the Attention Arena of the Middle Class

Climate of the Middle - SpringerBriefs in Climate Studies ◽

10.1007/978-3-030-85322-8_7 ◽

2022 ◽

pp. 63-71

Author(s):

Hans von Storch

Keyword(s):

Climate Change ◽

Middle Class ◽

Greenhouse Gas Emissions ◽

Greenhouse Gas ◽

Chemical Industry ◽

Greenhouse Gas Emission ◽

Gas Emission ◽

Emission Reductions ◽

Gas Emissions ◽

The World

AbstractGood intentions by the middle class are not always well guided and do not always lead to measurable or significant results. For example, efforts to limit greenhouse gas emissions may hold broad appeal but can still have negligible impact. Therefore, it is suggested to embark on “Apollo projects”, which bundle the potential and willingness of the middle class. These projects should focus on the development of specific technologies, with economic advantages to support their spread throughout the world. Doing so will harness the middle class in support of greenhouse gas emission reductions in the gigaton-range. Such pan-national projects, for example, could address emission-free ship- or air-propulsion, the electrification of heating or of processes in the chemical industry.

Download Full-text

Mitigation of Greenhouse Gas Emissions Through the Shift From Fossil Fuels to Electricity in the Mass Transport System in Guayaquil, Ecuador

Volume 6A: Energy ◽

10.1115/imece2018-87732 ◽

2018 ◽

Author(s):

Angel D. Ramirez ◽

Danilo Arcentales ◽

Andrea Boero

Keyword(s):

Climate Change ◽

Life Cycle ◽

Greenhouse Gas Emissions ◽

Greenhouse Gas ◽

Fossil Fuels ◽

Ghg Emissions ◽

Partial Replacement ◽

Transport Sector ◽

Carbon Intensity ◽

Gas Emissions

Climate change is a serious threat to sustainability. Anthropogenic climate change is due to the accumulation of greenhouse gases (GHG) in the atmosphere beyond natural levels. Anthropogenic GHG emissions are mostly associated with carbon-dioxide (CO2) originated in the combustion of fossil fuels used for heat, power, and transportation. Globally, transportation contributes to 14% of the global GHG emissions. The transport sector is one of the main contributors to the greenhouse gas emissions of Ecuador. In Guayaquil, the road mass transportation system comprises regular buses and the bus rapid transit (BRT) system. Electricity in Ecuador is mostly derived from hydropower, hence incurs relatively low GHG emissions along its life cycle. Therefore, electrification of transport has been seen as an opportunity for mitigation of GHG emissions. In this study, the effect of partial replacement of the bus rapid system fleet is investigated. Feeders have been chosen as the replacement target in five different scenarios. GHG emissions from diesel-based feeders have been calculated using the GREET Fleet Footprint Calculator tool. The GHG emissions associated with the electricity used for transportation is calculated using the life cycle inventory of the electricity generation system of Ecuador. Three energy mix scenarios are used for this purpose. The 2012 mix which had 61% hydropower; the mix of 85% hydropower and the marginal electricity scenario, which supposed the extreme case when the new demand for electricity occurs during peak demand periods. Results indicate that mitigation of GHG emissions is possible for almost all scenarios of percentage fleet replacement and all mix scenarios. Electric buses efficiency and the carbon intensity of the electricity mix are critical for GHG mitigation.

Download Full-text

Climate Change-Greenhouse Gas Emissions Analysis and Forecast in Romania

Sustainability ◽

10.3390/su132112186 ◽

2021 ◽

Vol 13 (21) ◽

pp. 12186

Author(s):

Georgiana Moiceanu ◽

Mirela Nicoleta Dinca

Keyword(s):

Climate Change ◽

Carbon Dioxide ◽

Greenhouse Gas Emissions ◽

Greenhouse Gas ◽

Exponential Function ◽

Global Climate Change ◽

Function Analysis ◽

Global Climate ◽

Ghg Emissions ◽

Gas Emissions

Greenhouse gases (GHG), such as carbon dioxide, methane, nitrous oxide, and other gases, are considered to be the main cause of global climate change, and this problem has received significant global attention. Carbon dioxide has been considered the most significant gas contributing to global climate change. Our paper presents an analysis of the greenhouse gas emissions in Romania along with a forecast for the years to come. For the study, data from the National Institute of Statistics and Eurostat were gathered and used for the analysis in order to present the results. To obtain the results, the data gathered were analyzed using forecasting methods that can be of help in solving some uncertainties that surround the future. The greenhouse gas (GHG) emissions trends in Romania were analyzed both for linear and exponential function methods. The obtained results showed that the linear function analysis of total GHG emissions in Romania had a forecast accuracy higher than the exponential function method. From the analytical methods used we can draw the conclusion that the emissions are on a descending scale and choosing a proper method is important in analyzing data.

Download Full-text

Perceptions of Food Retailers Regarding Climate Change and Greenhouse Gas Emissions

11th GLOBAL CONFERENCE ON BUSINESS AND SOCIAL SCIENCES - Global Conference on Business and Social Sciences Proceeding ◽

10.35609/gcbssproceeding.2020.11(73) ◽

2020 ◽

Vol 11 (1) ◽

pp. 73-73

Author(s):

Ayanda Pamella Deliwe ◽

Shelley Beryl Beck ◽

Elroy Eugene Smith

Keyword(s):

Climate Change ◽

South Africa ◽

Greenhouse Gas Emissions ◽

Greenhouse Gas ◽

Food Chain ◽

Ghg Emissions ◽

Ghg Emission ◽

Gas Emissions ◽

Food Retailers ◽

Earth’S System

Greenhouse gas (GHG) emission and its associated effects have been a debate in literature for many years (Hoffman, 2011:5; Williams & Schaefer, 2012:175; Whitmarsh, 2011:690). According to Jackson (2016), climate change is seen as a yearly change within the earth's climate that is a result of changes in its atmosphere, as well as interactions between the atmosphere and other chemical, geologic, geographic and biological factors within the earth's system. Climate change has primarily caused a warming effect of the earth's atmosphere that has affected all aspects of life (Pachauri & Reisinger, 2007:7). While there are limited studies that measure greenhouse gas emissions arising from the entire global food chain, there have been estimates of GHG emissions attributable to global agricultural production (Garnett, 2011:23). Energy consumption is one of the biggest challenges food retailers are facing as it not only increases overhead costs but also GHG emission (Tassou, Hadawey & Marriott, 2011). Garnett (2011) alleges that the food chain produces greenhouse gas (GHG) emissions at all stages in its life cycle, from the farming process and its inputs, through to manufacture, distribution, refrigeration, retailing, food preparation in the home and waste disposal. Technological improvements, while essential, will not be sufficient in reducing GHG emissions. The combination of population growth and rising per capita anticipated consumption of meat and dairy products will undermine the cuts that technological and managerial innovation can achieve. Over the last few years food retailers in South Africa started to focus their attention towards GHG emissions, but there is still no framework for food retailers to reduce GHG emissions in South Africa (Tassou et al. 2007:2988). Various studies have argued that the food and drink, transportation, and construction industry sectors are regarded as the most significant contributors to GHG emissions (European Commission, 2006; SEI, WWF & CURE, 2006 and UNEP, 2008). Significant changes in food production and increases in food transport have resulted. The production of food on farms has become increasingly mechanised, large-scale, and specialised; and food supply chains have become more complicated and transport-intensive (Roelich, 2008). Food retailers are contributing to GHG emissions by means of electricity usage through refrigerator equipment, lighting, heating, air conditioning, baking and other secondary services. There is no general strategy for food retailers to reduce GHG emission and minimal research has been done in this sector (Tassou et al, 2011). Keywords: climate change; food retailers; greenhouse gas emission; perceptions; strategies

Download Full-text

Development Of A Template To Benchmark Municipal Climate Change Action

10.32920/ryerson.14662746.v1 ◽

2021 ◽

Author(s):

Daniel Beare

Keyword(s):

Climate Change ◽

Greenhouse Gas Emissions ◽

Greenhouse Gas ◽

Ghg Emissions ◽

Gas Emissions ◽

Municipal Policy ◽

Academic Literature ◽

Climate Action ◽

Mitigate Climate Change ◽

Original Insight

The goal of this thesis is to produce a benchmarking template that can be applied by municipalities across Canada to reduce greenhouse gas emissions from their operations. This template will provide a common set of indicators for benchmarking municipal emissions. It will attempt to link the academic literature to existing conditions and practices within municipalities. It also provides original insight through interviews with municipal officials and municipal policy experts. Research has shown that municipalities can mitigate climate change. Municipalities have authority to enact policies which reduce greenhouse gas emissions. While many municipalities have taken action, benchmarking initiatives still do not exist to allow for direct comparison of municipalities. Following a review of academic literature interviews were held with a panel of nine municipal policy experts to assess existing programs and a proposed benchmarking template. An indicator set with nine categories and 18 individual indicators measuring corporate and community GHG emissions was developed through consultations with the panel. A questionnaire was sent to 32 municipalities with a response rate of 25%. Based on the results participating municipalities were compared against one another to determine best practices and areas for improvement. Indicators for residential densities, municipal building heating, solid waste, and municipal buildings and operations had the highest tCO An examination of indicator set development, improved methods for modelling community emissions, assessment of the benefits of climate action and municipal networking for small municipalities would build upon this research.

Download Full-text

Development Of A Template To Benchmark Municipal Climate Change Action

10.32920/ryerson.14662746 ◽

2021 ◽

Author(s):

Daniel Beare

Keyword(s):

Climate Change ◽

Greenhouse Gas Emissions ◽

Greenhouse Gas ◽

Ghg Emissions ◽

Gas Emissions ◽

Municipal Policy ◽

Academic Literature ◽

Climate Action ◽

Mitigate Climate Change ◽

Original Insight

Download Full-text

Greenhouse gas emissions from the water–air interface of a grassland river: a case study of the Xilin River

Scientific Reports ◽

10.1038/s41598-021-81658-x ◽

2021 ◽

Vol 11 (1) ◽

Author(s):

Xue Hao ◽

Yu Ruihong ◽

Zhang Zhuangzhuang ◽

Qi Zhen ◽

Lu Xixi ◽

...

Keyword(s):

Carbon Dioxide ◽

Land Use ◽

Nitrous Oxide ◽

Greenhouse Gas Emissions ◽

Greenhouse Gas ◽

Ghg Emissions ◽

Nitrous Oxide Emissions ◽

Gas Emissions ◽

Sand Land ◽

Very High

AbstractGreenhouse gas (GHG) emissions from rivers and lakes have been shown to significantly contribute to global carbon and nitrogen cycling. In spatiotemporal-variable and human-impacted rivers in the grassland region, simultaneous carbon dioxide, methane and nitrous oxide emissions and their relationships under the different land use types are poorly documented. This research estimated greenhouse gas (CO2, CH4, N2O) emissions in the Xilin River of Inner Mongolia of China using direct measurements from 18 field campaigns under seven land use type (such as swamp, sand land, grassland, pond, reservoir, lake, waste water) conducted in 2018. The results showed that CO2 emissions were higher in June and August, mainly affected by pH and DO. Emissions of CH4 and N2O were higher in October, which were influenced by TN and TP. According to global warming potential, CO2 emissions accounted for 63.35% of the three GHG emissions, and CH4 and N2O emissions accounted for 35.98% and 0.66% in the Xilin river, respectively. Under the influence of different degrees of human-impact, the amount of CO2 emissions in the sand land type was very high, however, CH4 emissions and N2O emissions were very high in the artificial pond and the wastewater, respectively. For natural river, the greenhouse gas emissions from the reservoir and sand land were both low. The Xilin river was observed to be a source of carbon dioxide and methane, and the lake was a sink for nitrous oxide.

Download Full-text