vlog

vlog Authors

See citation below for complete author information.

Teresa and John Heinz Professor of the Practice of Environmental Policy

Abstract

The 2015 Paris Agreement represented the first multilateral agreement to acknowledge and support efforts by so-called non-state actors, including corporations, to cut their greenhouse gas emissions. Moreover, the goals and structure of the Paris Agreement—focused on limiting warming to well below 2°C relative to pre-industrial levels and allowing for national governments to set voluntary emission goals—have informed the setting and adoption of voluntary corporate commitments. Some corporations have taken on “Paris-aligned” emission commitments, indicating that they would deliver emission reductions consistent with the temperature objective of the 2015 agreement. With the increasing adoption of mid-century net-zero emission goals by national governments, some corporates have likewise adopted their own net-zero emission commitments.

Citation

Aldy, Joseph, Patrick Bolton, Marcin Kacperczyk, and Zachery M. Halem. "Behind schedule: The corporate effort to fulfill climate obligations." Journal of Applied Corporate Finance 35.2 (Spring 2023): 26-34.