Banks' business strategy and environmental effectiveness: The monitoring role of the board of directors and the managerial incentives
研究了全球330家银行在金融危机后的数据，发现与气候变化相关的管理层激励能提升环境绩效，且董事会责任越高效果越明显，对银行治理和气候风险管理有参考价值。
Abstract The purpose of this paper is to investigate how banks' climate strategies affect environmental performance. To extend this line of research, the carbon disclosure of worldwide banks is examined. In particular, we focus on specific governance strategies: board of director monitoring and managerial incentives. Panel data are employed on a sample taken from 330 bank‐year observations in the period after the financial crisis. The results show an increase in environmental performance through the implementation of managerial incentives related to climate change, associated with the highest level of responsibility of the board of directors. Overall, the present study contributes to both the academic literature and corporate governance, highlighting the importance of banks' business strategy on climate change risks and opportunities with respect to environmental performance goals.