Voluntary corporate environmental initiatives: a typology and preliminary investigation

Voluntary corporate environmental initiatives are any nonstatutory initiatives that aim at improving corporate environmental performance. These types of initiatives have emerged as an important new policy tool for environmental management in North America. The focus of this paper is on the merits and shortcomings of three major categories of voluntary initiative: self-regulation, the voluntary agreement, and the voluntary challenge. Using data collected from eighteen new and two previously documented case studies of voluntary initiatives, the authors present some of the key characteristics of these types of initiatives and speculate on their role in North America's environmental policy regime. Industry respondents in the case studies identified the threat of regulation, public image, financial considerations, and peer pressure as key motivating factors in their decision to participate in a voluntary initiative. From a policy perspective, issues of concern are the effectiveness of nonstatutory initiatives relative to regulations, the degree of flexibility that they offer, and the role of public involvement. It is concluded that considerable research is still needed to confirm the contentions of proponents or opponents of voluntary initiatives.

Investors' carbon risk exposure and their potential for shareholder engagement

This article examines the exposure to and management of carbon risks of different investor types. Considering the dual role as portfolio manager and partial owner, we analyze carbon risk for investors both in terms of exposure to portfolio values and in terms of responsibility as shareholder of carbon-intensive firms. We show that among various investor types, the preference for holding carbon-intensive stocks differs substantially, even when considering traditional investment decision parameters. In particular, it is governments whose portfolio values are most threatened by a carbon risk exposure of 49%, but at the same time, they prefer larger ownership shares in polluting firms. In contrast, individual investors, investment advisors, and mutual funds avoid holding stakes in these firms, while revealing only a moderate exposure of their assets to carbon risk. In view of the Paris Agreement, which includes the consistent steering of financial flows towards a low carbon transformation of the economy, our study provides policymakers with important implications regarding the coverage and effects of respective regulations. By identifying the ownership structures of carbon-intensive firms and respective owners' portfolio compositions, we also offer implications for further research on portfolio decarbonization and shareholders' influence of corporate carbon management

Employing multivariate analysis to determine the drivers of productivity on the North Kenya Bank and in Kenyan territorial waters

A complex mix of natural processes exist in nearshore and offshore waters which influence coastal and marine ecosystem productivity. An understanding of the biogeochemical processes involved is a key element in interdisciplinary studies of primary production, oceanic flux and storage of carbon dioxide. Water circulation in the East African region is influenced by coastal currents driven by monsoon winds. There are four oceanic currents influencing Kenya’s coastal waters; namely the East African Coastal Current, the Somali Current, the Southern Equatorial Current and the Equatorial Counter Current. The Kenyan fishing industry is slowly embracing offshore fishing grounds, and the North Kenya Bank is emerging as the next fishery frontier. This study aims to provide insight on the processes driving the productivity of Kenya’s territorial waters. The variable Si* (the difference between available silicate [Si(OH)4] and nitrate [NO3-]) was employed as a proxy of upwelling. It was highly positively correlated to chlorophyll-a, indicating that upwelling is a major phenomenon driving productivity in Kenyan territorial waters. Particulate Organic Carbon (POC) and Dissolved Oxygen (DO) exhibited a lesser positive correlation with chlorophyll-a, implying that remineralization also has some influence in the productivity of the area.</jats:p

Employing multivariate analysis to determine the drivers of productivity on the North Kenya Bank and in Kenyan territorial waters

A complex mix of natural processes exist in nearshore and offshore waters which influence coastal and marine ecosystem productivity. An understanding of the biogeochemical processes involved is a key element in interdisciplinary studies of primary production, oceanic flux and storage of carbon dioxide. Water circulation in the East African region is influenced by coastal currents driven by monsoon winds. There are four oceanic currents influencing Kenya’s coastal waters; namely the East African Coastal Current, the Somali Current, the Southern Equatorial Current and the Equatorial Counter Current. The Kenyan fishing industry is slowly embracing offshore fishing grounds, and the North Kenya Bank is emerging as the next fishery frontier. This study aims to provide insight on the processes driving the productivity of Kenya’s territorial waters. The variable Si* (the difference between available silicate [Si(OH)4] and nitrate [NO3-]) was employed as a proxy of upwelling. It was highly positively correlated to chlorophyll-a, indicating that upwelling is a major phenomenon driving productivity in Kenyan territorial waters. Particulate Organic Carbon (POC) and Dissolved Oxygen (DO) exhibited a lesser positive correlation with chlorophyll-a, implying that remineralization also has some influence in the productivity of the area