Corporate governance mechanisms and carbon disclosure: A multilevel and multitheory literature survey

Ali, Waris; Wilson, Jeffrey and Frynas, Jedrzej George (2024). Corporate governance mechanisms and carbon disclosure: A multilevel and multitheory literature survey. Corporate Social Responsibility and Environmental Management (Early access).

DOI: https://doi.org/10.1002/csr.2869

Abstract

This study provides a comprehensive review and synthesis of 62 empirical studies on corporate governance drivers of carbon disclosure. We reveal that companies are experiencing pressure for carbon disclosure at multiple levels. At the macro‐level, pressures from regulatory institutions, normative institutions, financial markets, media, society, and economic cost were the most influential factors driving carbon disclosure. At the meso‐level, peer pressure from companies in similar industries as well as owners and investors influenced carbon disclosure. At the micro‐level, board diversity, board independence, and internal organizational systems explained the likelihood and commitment to carbon disclosure. In addition, we comprehensively reviewed and synthesized the theoretical lenses that have been used in scholarship on the impact of corporate governance mechanisms on carbon disclosure. Our study is the first multitheory and multilevel literature review on the impact of corporate governance mechanisms on carbon disclosure.

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