Beyond Climate Targets: Exploring When and How Female Directors Influence Corporate Decarbonization Transparency
研究了6575家全球大公司中董事会性别多样性对气候相关信息披露的影响，发现至少一位女性董事就能提升脱碳透明度，且行业环境敏感性和地区监管框架等因素会调节这一影响。
ABSTRACT The 2015 Paris Agreement established an international commitment to limit global warming to 1.5°C, which requires climate neutrality through deep cuts in greenhouse gas emissions. In pursuit of this goal, companies worldwide are adopting decarbonization strategies that are increasingly aligned with principles of transparency and accountability. This study examines a sample of 6575 large global companies to analyze the impact of board gender diversity on climate‐related disclosures. Our findings show that the presence of at least one female director increases corporate transparency regarding decarbonization targets, timelines, strategic levers, and performance metrics. Thus, this study challenges the critical mass theory by demonstrating that even a single female director adds unique value in promoting sustainability transparency. Furthermore, we show that contextual factors—such as industry environmental sensitivity, regional regulatory frameworks and climate‐related business opportunities—moderate the influence of female directors on decarbonization transparency. These findings advance corporate governance and sustainability research by providing a multidimensional understanding of how board gender diversity drives transparency, particularly in sustainability‐sensitive industries and regulatory environments. On a practical level, the findings highlight the strategic value of gender‐diverse boards for managers, investors, and policymakers seeking to enhance corporate accountability and align with global sustainability goals. By underscoring the transformative role of female directors in promoting transparent and responsible corporate practices, this research contributes actionable insights to the transition to a net‐zero economy.