Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/328796 
Year of Publication: 
2023
Citation: 
[Journal:] Economies [ISSN:] 2227-7099 [Volume:] 11 [Issue:] 6 [Article No.:] 171 [Year:] 2023 [Pages:] 1-21
Publisher: 
MDPI, Basel
Abstract: 
The objective of this research is to examine the relationship between carbon management strategies in corporations and their impact on financial performance. We employ a systematic literature review to analyze 223 articles retrieved from reputable journals indexed in Scopus. A total of 22 empirical studies covering various industry sectors and countries were selected and included in our analysis. The result indicates that 59% of the articles demonstrate positive findings. Among these, 50% show a significant positive impact, while 9% exhibit mixed results with both positive and negative outcomes in the short and long-term perspectives. These findings suggest that adopting carbon management strategies predominantly has a positive influence on corporate financial performance. In this study, we also provide a summary of the dependent, independent, and control variables, as well as commonly used indicators in this research topic, to help guide future quantitative research. Lastly, we offer a summary of the motivations, drivers, and barriers that corporations experience when implementing carbon management strategies. These insights will be valuable for business managers and policymakers, aiding them in successfully embarking on the journey to achieve net-zero emissions.
Subjects: 
GHG emissions
climate change strategies
corporate carbon strategies
carbon management
carbon performance
financial performance
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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