Fig. 3: Alignment with climate targets does not depend on the number of initiatives.
From: The alignment of companies' sustainability behavior and emissions with global climate targets
Panel a and panel b show the temporal evolution of the distribution of GHG emissions (a) and emission intensity (b, emission in tCO2e over revenue) of the companies in the population with aligned (blue, N = 2255) and misaligned (green, N = 4984) emission pathways as calculated in 2019 (red). Panel c (N = 2184) shows the distribution of the magnitude of deviation (y-axis) as a function of the quartile of initiatives (x-axis). The lines of the box plots are median lines, and the edges of the boxes are the quartile range: the 25th and 75th percentile. The right y-axis shows the medians of the distributions and their 95% bootstrapped confidence intervals. Panel d shows the estimation of the association of the total number of initiatives with the magnitude of the deviation (top) and the probability of alignment (bottom). In each model, we control for fixed effects, source of emission data, self-selectivity, and we adjust standard errors for heteroskedasticity. *, **, *** denote statistical significance at 10%,5%, and 1%, respectively, calculated from the two-tailed p-values for the t-statistics of the parameters. Overall, the figure shows that aligned companies have decreased their emissions through the observation period, but the total number of GHG-reduction initiatives cannot explain the alignment.
