In this study, we use size-matched groups based on industry membership (environmentally sensitive versus non-environmentally sensitive) and environmental performance (worse performers versus better performers, based on data from KLD Research and Analytics , Inc. to test for differences in the use of monetary and non-monetary non-litigation related environmental disclosure.
Specifically, we argue that the degree of bias in these narratives varies systematically based on firm environmental performance, hypothesizing that disclosures of worse environmental performers exhibit significantly more "optimism" and less "certainty" than their better-performing counterparts.
"The net result is that this would put coal back in a position where it would outcompete the better environmental performers in the marketplace," said David G. Hawkins, a former senior official at the Environmental Protection Agency who now works for the Natural Resources Defense Council.
For advice on climate change, Barroso recruited Peter Sutherland from BP, a company that was accused in 2005 of being one of the 10 worst environmental performers in the world.
That fund's manager, Stephen M. Liberatore, a managing director at TIAA Investments, said he aims to identify the best environmental performers and projects, regardless of whether their bonds are labeled green.
Smartway Elite vehicles are considered "superior environmental performers," according to the EPA.
Switzerland tops the list with an overall EPI score of 95.5 out of 100, while European countries account for 14 of the top 20 environmental performers.
In general terms, confrontation strategies such as boycott, demonstration, petition, monitor and expose actions (inaction) of others leads to moral stigmatization or "naming and shaming" of poor environmental performers.
Our research suggests, instead, that such committees may be set up by 'bad' environmental performers as a response to pressure companies face from stakeholders to do more about their environmental sustainability.
"The current program does not reward the best environmental performers," says Kevin Bromberg, assistant chief counsel for environmental policy at the Office of Advocacy.
