The purpose of this research is to define the institutional diffusion of carbon management, and what are facilitating and hindering factors in this institutional level change required to achieve such. The research originates from the 2050 targets of low-carbon economy. The focus of the study is within the forerunners, the innovative adopters of carbon management. Through these innovative adopters the institutional change process to carbon management is studied, by similarly identifying the drivers and barriers within this development. The institutional change processes efficiency and outcome is reflected directly towards the institutional diffusion of carbon management, ultimately defining the width and depth, and the result of the diffusion.The data for this study was acquired through the CDP Investor program, and focuses only to the associated CDP Climate change programs data from the years 2010 to 2015. The studied companies represent the top 100 highest emitters each year, and in total data from 252 companies were analyzed.The results indicate that at present the regulations are not the strongest influencers within institutional change towards carbon management, instead reluctance against such was discovered. Also the market conditions do not create pressure towards change. Instead the physical changes experienced as a result of climate change drive companies towards carbon management. The forerunner companies demonstrate isomorphic level in carbon management, which indicates wide and deep institutional diffusion. However, any concrete results in decreasing emissions are not achieved, and the forerunner companies decouple the carbon management actions from structure. Carbon management is not connected to companies’ maximization objectives, hence the increasing returns which is the main reason for such results. At present the forerunner companies carbon management actions are made to comply with the societies changed preferences to mitigating climate change.
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