Long\u002Dterm climate change results can only be achieved by identifying why certain firms are still emitting such high amounts of greenhouse gases and addressing…
This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site.Author: Ashrafee Tanvir Hossain, Associate Professor, Faculty of Business Administration, Memorial University of Newfoundland
Our research confirmed our initial hypothesis that risk-averse CEOs were more likely to lead firms with higher carbon emissions. They were unwilling to take the bold steps necessary to invest in greener projects to reduce their carbon footprints. Instead, they usually made immoral, yet rational, decisions that prioritized profit over sustainability.
While there may be short-term repercussions for investing in carbon footprint reductions, such as lower profitability, cash depletion or increased debt, this should not impact CEO pay. Instead of punishing CEOs for implementing environmentally friendly policies, they should be compensated.Article content
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