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Correlations between Corporate Climate Change Management and Financial Performance: A Case Study of Japanese Automobile Manufacturers

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DOI: 10.4236/lce.2013.44014    3,306 Downloads   4,881 Views  

ABSTRACT

Using data from a survey, we examined actions taken by large corporations based in three countries to combat climate change and related these actions to the corporations’ financial performance. We analyzed the correlation between financial performance and climate change management performance to determine the extent that climate change management activities are a net cost or a net benefit to companies. We found that corporate climate change management performance is generally positively correlated with financial performance, but that the relationship differs among countries due to national-level external factors. A case study of Japanese automobile manufacturing companies showed that sales of a companys fuel-efficient cars, reflecting consumers awareness of climate change, are associated with higher valuation by financial markets.

Conflicts of Interest

The authors declare no conflicts of interest.

Cite this paper

M. Enokibori, R. Matsuhashi and Y. Yoshida, "Correlations between Corporate Climate Change Management and Financial Performance: A Case Study of Japanese Automobile Manufacturers," Low Carbon Economy, Vol. 4 No. 4, 2013, pp. 129-136. doi: 10.4236/lce.2013.44014.

References

[1] F. Takeda and T. Tomozawa, “A Change in Market Responses to the Environmental Management Ranking in Japan,” Ecological Economics, Vol. 67, No. 3, 2008, pp. 465-472. http://dx.doi.org/10. 1016/j.ecolecon.2007.12.027
[2] M. Kuribayashi and Y. Kameyama, “Estimation of Influence of Environmental Management Activities and Employment System of Machinery Manufacturers on Their Management,” Environmental Information Science, Vol. 24, 2010, pp. 189-194.
[3] Japan Automobile Manufacturers Association, Inc., “Motorcycle Market Trends in Japan in Fiscal 2011,” 2012. http://www.jama.or.jp/release/news/attachement/20120404_jouyou.pdf

  
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