Voluntary Emissions Reduction: Are We Making Progress?

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Author(s): Robert Bailis (Yale University, USA)and Neda Arabshahi (Yale University, USA)
Copyright: 2011
Pages: 33
Source title: Green Finance and Sustainability: Environmentally-Aware Business Models and Technologies
Source Author(s)/Editor(s): Zongwei Luo (University of Hong Kong, Hong Kong)
DOI: 10.4018/978-1-60960-531-5.ch014

Keywords: Business Science Reference / Environment & Agriculture / Global Business / Sustainable Development

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Abstract

While binding regulations on greenhouse gas (GHG) emissions have yet to be introduced outside of a limited number of high-emitting sectors in the EU, several organizations have set up voluntary GHG programs that promote firm-level inventories and/or emission reductions. Many argue that these programs are not forceful or rigorous enough to result in real emissions reductions and may simply encourage “greenwashing.” In 2007, the United Nations Global Compact initiated the voluntary Caring for Climate (C4C) platform for businesses wishing to demonstrate climate leadership. To assess how voluntary emissions reduction programs have performed, this study examines the progress that C4C signatories have made. The results show widely dispersed GHG quantities and a range of reduction plans. Due to the lack of uniform, comparable data, the authors call for standardized, clearly defined carbon accounting guidelines as the first step towards effective corporate GHG management.

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