The True Cost of Greenhouse Gas Emissions: Analysis of 1,000 Global Companies

Montoya, Alejandro Raul Hernandez, Ishinabe, Nagisa, Fujii, Hidemichi, & Managi, Shunsuke (2013) The True Cost of Greenhouse Gas Emissions: Analysis of 1,000 Global Companies. PLoS ONE, 8(11), e78703.

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Abstract

This study elucidated the shadow price of greenhouse gas (GHG) emissions for 1,024 international companies worldwide that were surveyed from 15 industries in 37 major countries. Our results indicate that the shadow price of GHG at the firm level is much higher than indicated in previous studies. The higher shadow price was found in this study as a result of the use of Scope 3 GHG emissions data. The results of this research indicate that a firm would carry a high cost of GHG emissions if Scope 3 GHG emissions were the focus of the discussion of corporate social responsibility. In addition, such shadow prices were determined to differ substantially among countries, among sectors, and within sectors. Although a number of studies have calculated the shadow price of GHG emissions, these studies have employed country-level or industry-level data or a small sample of firm-level data in one country. This new data from a worldwide firm analysis of the shadow price of GHG emissions can play an important role in developing climate policy and promoting sustainable development.

Impact and interest:

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ID Code: 75364
Item Type: Journal Article
Refereed: Yes
DOI: 10.1371/journal.pone.0078703
ISSN: 1932-6203
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Economics & Finance
Copyright Owner: Copyright 2013 Ishinabe et al.
Copyright Statement: This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Deposited On: 20 Aug 2014 23:47
Last Modified: 16 Nov 2016 06:12

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