Emissão de carbono, desempenho ESG e protagonismo feminino no conselho: Uma análise multipaíses, nacional e regional

Abstract

Contextualization: This study focuses on exploring the relationship between two fundamental topics in the contemporary corporate environment – ESG indicators (environmental, social and governance) and gender diversity in boards of directors – and their relation to carbon emissions (measured both by greenhouse gas emissions and by compliance with the B3 ICO2 index). In the global context, the search for more sustainable practices and more gender equality has been highlighted as an ethical need for factors that can have a positive impact on the development and commitment of companies regarding greenhouse gas (GHG) emissions.

Objective: The general goal of this dissertation is to analyze the relationship between ESG performance, together with female protagonism in the board of directors (BD), and carbon emissions (measured by GHG emissions and compliance with the ICO2). In terms of specific goals, Essay 1 analyzes the relationship between ESG performance (and its pillars) and the reduction in GHG emissions in the context of Latin America, while Essay 2 analyzes the relationship between the proportion of women in the BD and compliance with the ICO2 index in the Brazilian context. Additionally, the study addresses implications in the context of the region of Triângulo Mineiro and Alto Paranaíba (TMAP), as well as the south of the Goiás state.

Method: The first essay employed the multilevel regression model, while the second essay employed the logistic regression method with panel data, since the dependent variable is binary.

Results: The findings of the first essay revealed a consistent and significant association between ESG scores, both in general and in terms of their individual components, and the positive performance of emissions. These findings corroborate the initial research hypothesis, indicating the responsible environmental, social and governance practices are related to higher performance in terms of GHG emissions. The findings of the second essay indicated a positive and statistically significant relationship between the proportion of women in the board of directors and the likelihood of compliance with the ICO2 by the company. This finding was also true when a woman was the president of the board. In addition, there was a positive association between the size of the board of directors and the likelihood of compliance with ICO2.

Adherence of the study to the PPGAdm focus area (Regionality and Administration) and to the line of research line: The factors addressed in the two essays play a fundamental role in promoting business sustainability, a central theme that guides the research and falls within the area of Organizational Management, as it deals with mechanisms and attributes internal to organizations. Regarding Regionality, this dissertation brings the implications of relationships of interest in the TMAP region and in the south of Goiás.

Impact and innovative character in intellectual production: This study stands out due to its exploration of the interactions between the important topics of ESG and gender diversity in the boards of directors, and due to its impact in the performance and commitment of companies regarding GHG emissions. In addition, this study is innovative because of its approach to the analysis of the relationship between gender diversity and compliance with the ICO2, taking into account more polluting and less polluting sectors.

Economic, social and regional impact: Companies adopting sustainable practices have the potential to cause positive impacts in employment levels and in the local community, generating significant effects in the social and economic wellbeing of regions, since companies with higher ESG scores and higher performance in mitigating GHG can obtain competitive advantages, attracting investors and consumers concerned with these issues. In addition, the study could encourage partnerships between regional institutions, local governments, companies and non-governmental organizations in order to promote sustainability and gender diversity, fomenting a collaborative approach to environmental and social challenges.

Regional implications: The research findings could affect the development of regional policies related to sustainability and gender diversity, encouraging the implementation of more rigorous measures or improvements of existing policies. Regions that adopt GHG mitigation practices can be more resilient to climate risks, contributing to long-term adaptation and sustainability. These implications indicate the importance of considering the ESG dimensions and gender diversity in the board of directors, in conjunction with GHG mitigation practices, to understand the impact on companies and on the regions where they operate.

Sustainable Development Goals met by this study: This investigation is in line with the Sustainable Development Goals (SDGs), contributing to gender equality (SDG 5), reduced inequalities (SDG 10), strong institutions (SDG 16), affordable and clean energy (SDG 7), climate action (SDG 13), responsible consumption and production (SDG 12), and decent work and economic growth (SDG 8). The promotion of ESG practices and the reduction of GHG emissions are in line with the need for collaboration between companies, governments and society, as recommended by SDG 17.