Stock Exchange ESG Disclosure Guidance and Corporate Carbon Mitigation: International Evidence
株式取引所のESG開示ガイダンスと企業の炭素排出削減：国際的エビデンス (AI 翻訳)
Jiamian Yan, Le Luo, N. Nuhu
🤖 gxceed AI 要約
日本語
本研究は、世界の主要な取引所が採用するESG開示ガイダンス（GRI、SASB、TCFD、IIRC、CDSB、CDP）が企業の炭素削減に与える影響を国際サンプルで検証。ガイダンスのある取引所に上場する企業は、特にScope 1排出削減で優れた成果を示すが、複数フレームワークの併用は効果を弱める。自主開示の環境や発展途上国、低炭素産業で効果が顕著。
English
This study examines the impact of stock exchange ESG disclosure guidance on corporate carbon mitigation using an international sample. Firms listed on exchanges with guidance show greater carbon reductions, particularly Scope 1 emissions. However, the effect weakens when multiple frameworks are adopted concurrently. Effects are stronger in voluntary disclosure settings, developing countries, low-carbon industries, and civil law systems.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本の証券取引所もESG開示ガイダンスを導入しており、本論文の国際比較は日本における制度設計に示唆を与える。特に複数フレームワークの併用による効果減衰の指摘は重要。
In the global GX context
This paper provides global evidence on the effectiveness of stock exchange ESG disclosure guidance, a key mechanism for climate transparency. It highlights the need for harmonization among frameworks to avoid dilution of impact, relevant to ongoing ISSB and global convergence efforts.
👥 読者別の含意
🔬研究者:This paper offers causal evidence on how ESG disclosure guidance affects corporate carbon mitigation, with valuable cross-sectional insights on context dependency.
🏢実務担当者:Companies listed on exchanges with ESG guidance should recognize the potential mitigation expectations and consider the risk of framework overload.
🏛政策担当者:Stock exchange disclosure guidance can be an effective tool for carbon mitigation, but harmonization is crucial to maintain impact; voluntary settings may amplify effects.
📄 Abstract（原文）
This study investigates the tangible impact of the adoption of environmental, social, and governance (ESG) disclosure guidance by stock exchanges on corporate carbon mitigation, focusing on six major frameworks: the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB), the Task Force on Climate Related Financial Disclosures (TCFD), the International Integrated Reporting Council (IIRC), the Climate Disclosure Standards Board (CDSB), and the CDP. Using an international sample of large companies, results show that firms listed on exchanges with ESG guidance exhibit greater carbon mitigation, especially for Scope 1 (direct) emission mitigation. However, the mitigation effect weakens when multiple frameworks are concurrently adopted. The cross‐sectional analysis reveals that mitigation effects concentrate in voluntary disclosure settings, developing countries, low‐carbon industries, and civil law systems. Our findings underscore the importance of harmonized ESG disclosure guidance in shaping corporate environmental behavior.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1002/bse.70787first seen 2026-05-05 21:43:18
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。