This article emerged from discussions in the Corporate Growth and International Management Working Group of the Schmalenbach-Gesellschaft, a German association that brings together corporate practitioners and business scholars. Authors Martin Glaum and Ralph Schweens head the working group; Alexander Gerybadze and Thomas Muller-Kirschbaum are members. Whether driven by regulation or by conscience, many large companies have made commitments to reduce their greenhouse gas emissions as part of worldwide efforts to limit global warming. Doing so is particularly challenging for industrial companies that have energy-intensive production processes or sell products that consume a great deal of energy during their use. European Union programs and directives have put the identification, monitoring, and mitigation of carbon emissions unequivocally on the corporate agenda. As compliance with those regulations compels EU-based organizations to tackle the transition away from fossil fuels with...
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