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arXiv · 2508.05811

The Impact of Carbon Targets on Firms' Carbon Performance

Xichen Sun·Xingzhi Jia·Rogelio Oliva
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Abstract

Although goal-setting theory predicts that a challenging and specific goal can improve performance, the evidence regarding the effectiveness of an environmental goal in organizations is mixed. Using a panel data set consisting over 700 global firms across multiple industries, we apply a Difference-in-Differences (DiD) strategy and empirically analyze the effect of having science-based carbon emissions targets (SBTs) on firms' carbon performance. The findings in this study contribute to the debate regarding the necessity of setting SBTs.

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Xichen Sun, Xingzhi Jia, Rogelio Oliva. 2025-08-07. The Impact of Carbon Targets on Firms' Carbon Performance. https://arxiv.org/abs/2508.05811

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