An Empirical Research On The Correlation Between Carbon Management System And Corporate Governance

GHG emissions are the main cause of climate change and global warming,which can have a significant impact on business operation.Thus,stakeholders pay more and more attention to carbon management system and hope to maximize the long-term benefit by controlling GHG emissions.The demand of carbon management system is not only from internal corporate itself but also from the regulation of government.Meanwhile,the company’s corporate governance is one of the most important factors that influence the carbon management system.This article first puts forward a series of research hypothesis based on previous studies.Second,the carbon management information of listed companies during 2008-2015 are collected from the corporate social responsibility reports.Finally,the article analyzes the relation between corporate governance and scores of carbon management system as a whole as well as four dimensions in CMS.The results show that the existence of environment committee,the independence of compensation committee,the frequency of meeting of supervisors,equity incentive,equity concentration and state ownership are significantly and positively related with carbon management system.But the independence of the board of directors has no correlation with carbon management system.The influences of corporate governance on different dimensions of CMS are also examined.Based on the findings,the article discusses the policy implications and proposes some suggestions to improve carbon management system for listed companies.