Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/261184 
Year of Publication: 
2022
Series/Report no.: 
ECB Working Paper No. 2650
Publisher: 
European Central Bank (ECB), Frankfurt a. M.
Abstract: 
We match firm-corporate governance characteristics with firm-level carbon dioxide (CO2) emissions over the period 2009-2019 to study the relationship between gender diversity in the workplace and firm carbon emissions. We find that a 1 percentage point increase in the percentage of female managers within the firm leads to a 0.5% decrease in CO2 emissions. We document that this effect is statically significant, also when controlling for institutional differences caused by more patriarchal and hierarchical cultures and religions. At the same time, we show that gender diversity at the managerial level has stronger mitigating effects on climate change if females are also well-represented outside the organization, e.g. in political institutions and civil society organizations. Finally, we find that, after the Paris Agreement, firms with greater gender diversity reduced their CO2 emissions by about 5% more than firms with more male managers.
Subjects: 
Carbon emissions
Female managers
Global warming
Paris Agreement
Green economics
JEL: 
G12
G23
G30
D62
Q54
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-4983-5
Document Type: 
Working Paper

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