The Limits of Carbon Disclosure: Theorizing the Business Case for Investor Environmentalist!!

摘要

Frustrated with the slow pace of government policy and international negotiations, many environmentalists have sought to promote climate change mitigation through various forms of private governance and corporate social responsibility (CSR). Prominent in this strategy has been a growing focus on using the power of institutional investors—such as mutual funds, pension funds and insurers—to create market incentives, in the form of share price performance, for firms to reduce their carbon emissions. This strategy is evident in the growth of various socially responsible investment funds (SRI or "green funds") and in the emergence of numerous investment-focused NGOs and initiatives such the Coalition for Environmentally Responsible Economies (Ceres) with its Investors Network on Climate Risk (INCR) and Global Reporting Initiative (GRI), the Institutional Investors Group on Climate Change (IIGCC) and the Carbon Disclosure Project (CDP).