Corporate responses to climate change and carbon disclosure
[Supervisor] [Researcher] [Cooperations] [Term] [Funded
by] [Publications] [Presentations] [Posters] [Research Fields]
In the last decade, dealing with uncertainty has become a
core issue in corporate decision making. Especially with
regards to climate change, managers face a wide range of
uncertainties concerning physical impacts, such as extreme
weather events, as well as regulatory uncertainties such as
future climate change legislation. In dealing with climate
change managers must respond by mitigating CO2 emissions and
adapting to altered natural, regulatory and competitive
environments. This PhD thesis investigates responses and carbon
disclosure, focussing on five core issues.
First, I investigate organizational responses focussing on key
resources for strategic capabilities in dealing with climate
change. The results are that routines are key resources for the
strategic capability mitigation. Organizational power and
stakeholder management are key resources for strategic
capability adaptation. Commitment of all stakeholders is a key
resource for strategic capacity resilience.
Second, I examine real options thinking as a corporate
adaptation strategy for dealing with climate change
uncertainties. Following a conceptual approach that assesses
the benefits of real options thinking in risk management in the
case of climate change, a decision making tool for climate risk
is developed. I conclude that real options thinking is an
appropriate heuristic for assessment and treatment of climate
change risks.
Third, I explore carbon disclosure within environmental
reporting using member companies of the 3C Combat Climate
Change Initiative as a sample. The findings are that companies
disclosed neither the risks and opportunities presented by
climate change to their business nor how climate change issues
are integrated in the management processes and business
strategies. Also, many companies do not disclose indicators of
carbon performance such as total direct and indirect as well as
other greenhouse gas emissions within the scope of the
company.
Fourth, I scrutinize carbon disclosure within annual reporting,
focussing on interconnections between emissions trading and
corporate risk management based on a case study conducted in
the multinational energy company Vattenfall. I find that
physical climate change impacts and climate change legislation
significantly increase electricity price risk, political risk,
investment risk and environmental risk and should therefore be
monitored frequently by risk managers.
Fifth, I investigate the relation between environmental
performance and environmental disclosure in the case of the
Carbon Disclosure Project. Preliminary results predict a
negative relation between environmental performance and the
level of disclosure, and thus support stakeholder theory and
legitimacy theory (Patten 2002, AOS).
Supervisor
Researcher
Dipl. Kfm. Gabriel Weber, M.A.
Cooperation
New Zealand Institute of Economic Research
Term
since 10/2007
Funded by
Haushalt und BMBF
Publications
2010
- Günther, E.; Manthey, C.; Weber, G.; Nowack, M.; Ehrenfeld, W.; Dannenberg, H.: Klimarisikomanagement mit dem CO2-Navigator - Internalisierung von Klimaschutz in Investitionsentscheidungen durch eine Real-Options-Perspektive. In: HMD Praxis der Wirtschaftsinformatik, Nr. 274, (im Erscheinen).
- Günther, E.; Weber, G.: Carbon Disclosure Project. In: Das Wirtschaftsstudium, 39. Jg., 2010, H. 3, S. 342-343.
- Günther, E.; Weber, G.; Hüske, A.-K.: Stakeholder-Management. In: wisu Das Wirtschaftsstudium, 39. Jg., 2010, H. 7, S. 926-927.
2009
- Günther, E.; Greschner Farkavcova, V.; Hoppe, H.; Nowack, M.; Stechemesser, K.; Weber, G.: Bewertung ökonomischer und ökologischer Aspekte. Management Summary. In: Cherif, Ch.; Günther, E.; Jatzwauck, L.; Mecheels, S. (Hrsg.): Evaluierung von OP-Textilien. Ergebnisse einer Untersuchung nach hygienischen, ökonomischen und ökologischen Gesichtspunkten. Dresden 2009, S. 91
- Günther, E.; Nowack, M.; Weber, G.: CO2-Navigator - Unternehmenssteuerung im klimapolitischen Umfeld. In: Bardt, H.; Biebeler, H.; Mahammadzadeh, M.: Klimaschutz und Anpassung - Ergebnisse der klimazwei-Förderschwerpunktes, Köln 2009, S. 145-151.
- Günther, E.; Weber, G; Nowack, M.; Ehrenfeld, W.: CO2-Navigator – ein Softwaretool zur Unterstützung von Investitionsoptionen zur Emissionsreduktion und zum Management von Klimarisiken. In: Mahammadzadeh, M.; Biebeler, H.; Bardt, H. (Hrsg.), 2009: Klimaschutz und Anpassung an die Klimafolgen - Strategien, Maßnahmen und Anwendungsbeispiele, Köln 2009.
- Hoppe, H.; Weber, G.: Die Beschaffung von OP-Textilien und deren Bewertung. In: Cherif, C.; Günther, E.; Jatzwauk, L.; Mecheels, S.(Hrsg.): Evaluierung von OP-Textilien - Ergebnisse einer Untersuchung nach hygienischen, öknonomischen und ökologischen Gesichtspunkten. Dresden 2009, S. 92-94.
- Weber, G.; Guenther, E.; Nowack, M.: Organizational Responses to Regulatory Climate Change Risks – Revisiting the Natural Resourced Based View of the Firm, conference paper, 25th EGOS Colloquium 2009.
- Weber, G.; Günther, E.; Nowack, M.; Arndt, S.: Klimaberichterstattung. Offenlegung von Klimaleistung im Rahmen der Umwelt- und Nachhaltigkeitsberichterstattung in der Energie- und Zementbranche. In: Die Wissenschaftliche Zeitschrift der TU Dresden (2009), Heft 3-4, S. 125 - 131.
- Weber, G.; Nowack, M.; Guenther; E.: Application of real options thinking for the management of climate change risks, conference paper , Annual Meeting American Accounting Association 2009.
2008
- Guenther, E.; Nowack, M.; Weber, G.: Consideration of climate change impacts and measures of organizational adaptation - The case of the Electricity Industry and Cement Industry in New Zealand, conference Paper, 24th EGOS Colloquium 2008
- Günther, E.; Nowack, M.; Weber, G.: Stand der Klimaschutzberichterstattung. In: Umweltwirtschaftsforum, 16. Jg. (2008), Heft 2, S. 105-114.
- Weber, G.: CO2 Management aus neuseeländischer Perspektive – Fallstudie im Energiesektor. In: Umweltwirtschaftsforum, 16. Jg. (2008), Heft 2, S. 115-120.
- Günther, E.; Nowack, M.; Weber, G.: Unternehmen und Klimaschutz. In: Das Wirtschaftsstudium, 37. Jg. (2008), H. 2/08, S. 204-205.
- Günther, E.; Nowack, M.; Weber, G.: Real Option Thinking as a Business Approach to Deal with Climate Change Uncertainties . Conference Proceedings der 2008 Berlin Conference on the Human Dimensions of Global Environmental Change/ International Conference of the Social- Ecological Research Programme in Berlin 22.-23.02.2008
- Günther, E.; Nowack, M.; Weber, G.: How Do Companies Participating in Business Networks Relating to Climate Change Report their Climate Change Performance? Conference Proceedings der 2008 Berlin Conference on the Human Dimensions of Global Environmental Change/ International Conference of the Social- Ecological Research Programme in Berlin 22.-23.02.2008
- Günther, E..; Weber, G.: Dow Jones Sustainability. In: Das Wirtschaftsstudium, 37. Jg. (2008), H. 8-9/08, S. 1136-1137.
- Günther, E.; Weber, G.; Nowack, M.; Arndt, S. Unternehmenssteuerung im klimapolitischen Umfeld. Dresden 2008.. (Dresdner Beiträge zur Betriebswirtschaftslehre. Nr. 146 )
- Weber, G.; Günther, E.; Nowack, M.: Application of real options thinking for the management of climate change risks. Conference Proceedings der 3rd NZSSES International Conference 2008, Blueprints for Sustainable Infrastructure , 9.-12. Dezember 2008 in Auckland, Neuseeland , S. 133.
2007
- Günther, E.; Hoppe, H.; Nowack, M.; Weber, G.: Farms.com -The case of ethanol industry. Conference Proceedings der SETAC Europe 14th LCA Case Studies Symposium in Göteborg am 04.12.2007
- Günther, E.; Hoppe, H.; Nowack, M.; Weber, G.: Erstellung einer Sachbilanz für OP-Textilien trotz Datenlücken und Prozessvielfalt. Conference Proceedings für den Doktorandenworkshop in Bad Urach 26./27. September 2007
- Günther, E.; Hoppe, H. und Weber, G.: Procurement of operating-room textiles in German hospitals as part of Industrial Ecology. Conference Proceedings, 3rd International Conference on Life Cycle Management (LCM 2007), Zurich, 27th-29th August 2007, (available as CD-ROM).
- Günther, E.; Hoppe, H.. und Weber, G.: Sustainable development and its integration in business decisions: - The case of the procurement of operating-room textiles in German public hospitals. Conference Proceedings, Corporate Responsibility Research Conference 2007, Leeds, 15th-17th July, 2007.
- Günther, E.; Nowack, M.; Weber, G.: How does emissions trading influence corporate risk management? Conference Proceedings des 5th Research Workshop Emissions Trading and Business, Wittenberg, 7th-9 th November 2007.
- Günther, E.; Nowack, M.; Weber, G.: CO2-Navigator - Unternehmenssteuerung im klimapolitischen Umfeld. In: Bardt, H.; Biebeler, H.; Mahammadzadeh, M.: Forschung und Praxis für Klimaschutz und Anpassung, Köln 2007.
Presentations
- Principles for Responsible Management Education, Vortrag im Rahmen der Bundesfachschaftenkonferenz 2009 in Dresden am 13.11.2009 (Dipl.-Kfm. Gabriel Weber, M.A.)
- Application of real options thinking for the management of climate change risks, Vortrag im Rahmen des American Accounting Association 2009 Annual Meeting and Conference on Teaching and Learning in Accounting in New York am 05. August 2009 (Dipl.-Kfm. Gabriel Weber, M.A.)
- Organizational Responses to Regulatory Climate Change Risk – Revisiting the Natural- Resource-Based View of the Firm. Vortrag im Rahmen des 25th EGOS Colloquium 2009 in Barcelona am 2.-4. Juli 2009 (Dipl.-Kfm. Gabriel Weber, M.A.)
- Operationstextilien – ist Geiz geil? Vortrag zum Abschluss des BMBF-Verbundvorhabens „Evaluierung von OP-Textilien“ in Frankfurt a.M. am 15. Juni 2009 (Dipl. Kfm. Gabriel Weber, M.A.)
- Klimaminderungs- und Anpassungsstrategien im regionalen Kontext. Vortrag im Rahmen der Umweltringvorlesung "Die Umweltproblematik in der urbanen Gesellschaft und den Medien" in Dresden am 24. November 2008 (Dipl.-Kfm. Gabriel Weber, M.A. ; Dipl.-Kffr. Kristin Stechemesser )
- Consideration of climate change impacts and measures of organizational adaptation - The case of the Electricity Industry and Cement Industry in New Zealand. Vortrag im Rahmen des 24th EGOS Colloquium in Amsterdam am 10. Juli 2008. (Dipl.-Kfm. Gabriel Weber, M.A.)
- Carbon Management - a New Zealand perspective, Vortrag beim New Zealand Institute of Economic Research in Wellington am 23. April 2008 (Dipl.-Kfm. Gabriel Weber, M.A.)
- Corporate management in a climate change environment - CO2 Navigator, Vortrag beim New Zealand Institute of Economic Researchin Wellington am 25. Februar 2008 (Dipl.-Kfm. Gabriel Weber, M.A.)
- Strategic risk management in a carbon constrained world. Vortrag im Rahmen der ETH Zürich PhD-Academy on Sustainability and Technology – Academy 08, January 27th - February 1st 2008. (Dipl.-Kfm. Gabriel Weber, M.A.)
- Entscheidungshilfen für die Beschaffung von Operationstextilien - Wege zur Überwindung potentieller Problemfelder. Vortrag im Rahmen der Medica Vision in Düsseldorf am 16. November 2007 (Dipl.-Kfm. Gabriel Weber, M.A.)
- How does emissions trading influence corporate risk management? Vortrag im Rahmen des 5th Research Workshop Emissions Trading and Business in Wittenberg am 7th-9 th November 2007. (Dipl.-Volkswirt Martin Nowack, Dipl.-Kfm. Gabriel Weber, M.A.)
Posters
- Decision aid for a sustainability-oriented procurement in hospitals: The case of operating-room textiles. Posterpräsentation im Rahmen der Sustainable Neighbourhood from Lisbon to Leipzig through Research (L2L) vom 8. – 10. Mai 2007 in Leipzig.
- GRI - How are the guidelines applied? Posterpräsentation im Rahmen der Global Reporting Initiative Amsterdam Global Conference on Sustainability and Transparency, vom 7. - 9. Mai 2008 in Amsterdam.
- CO2-Navigator - Unternehmenssteuerung im klimapolitischen Umfeld . Posterpräsentation im Rahmen des Forums Klimawandel in Europa im 21. Jahrhundert - Freigabe der Ensemble-Klimasimulationen mit dem regionalen Klimamodell CLM am 11. Dezember 2008 in Cottbus.
- Farms.com - The case of ethanol industry. Posterpräsentation im Rahmen des 14th LCA Case Studies Symposium in Göteborg am 04.12.2007 .
Research Fields
This project is part of the following research fields:
- Value added management
- Environmental performance measurement