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- Faculty Publications (122)
- February 2024
- Supplement
Can Cities Beat the Heat? (B9): Nashville Climate Action Snapshot
By: Rosabeth Moss Kanter and Jacob A. Small
Climate snapshots provide a summary of climate actions that occurred between 2018 and 2024, highlighting major green initiatives, innovations, carbon mitigation strategy, and action across multiple levels of government and the private sector. Snapshots also provide an... View Details
- February 9, 2024
- Article
Addressing Climate Change with Behavioral Science: A Global Intervention Tournament in 63 Countries
By: Madalina Vlasceanu, Kimberly C. Doell, Joseph B. Bak-Coleman, Boryana Todorova, Michael M. Berkebile-Weinberg, Amit Goldenberg, Eric Shuman and et al.
Effectively reducing climate change requires marked, global behavior change. However, it is unclear which strategies are most likely to motivate people to change their climate beliefs and behaviors. Here, we tested 11 expert-crowdsourced interventions on four climate... View Details
Keywords: Climate Change; Motivation and Incentives; Behavior; Policy; Knowledge Sharing; Values and Beliefs
Vlasceanu, Madalina, Kimberly C. Doell, Joseph B. Bak-Coleman, Boryana Todorova, Michael M. Berkebile-Weinberg, Amit Goldenberg, Eric Shuman, and et al. "Addressing Climate Change with Behavioral Science: A Global Intervention Tournament in 63 Countries." Science Advances 10, no. 6 (February 9, 2024).
- 2024
- Working Paper
Private Regulation, Institutional Entrepreneurship and Climate Change: A Business History Perspective
By: Ann-Kristin Bergquist and Geoffrey Jones
Private regulatory systems, including voluntary efforts by firms to restrain their own behavior are the primary form of global climate change governance. However, when environmental challenges first rose up on the scientific and political agendas during the 1970s, the... View Details
Keywords: Certification; Climate Change; Environmental Regulation; Business History; Governing Rules, Regulations, and Reforms; Policy
Bergquist, Ann-Kristin, and Geoffrey Jones. "Private Regulation, Institutional Entrepreneurship and Climate Change: A Business History Perspective." Harvard Business School Working Paper, No. 24-041, January 2024.
- December 2023
- Other Article
Introduction to the Special Section on Business and Climate Change
By: Rajesh Chandy, Glen Dowell, Colin Mayer, Erica Plambeck, George Serafeim, Michael W. Toffel, L. Beril Toktay and Elke Weber
Keywords: Climate Change; Adaptation; Policy; Corporate Social Responsibility and Impact; Innovation and Invention; Forecasting and Prediction
Chandy, Rajesh, Glen Dowell, Colin Mayer, Erica Plambeck, George Serafeim, Michael W. Toffel, L. Beril Toktay, and Elke Weber. "Introduction to the Special Section on Business and Climate Change." Management Science 69, no. 12 (December 2023): 7347–7351.
- November 2023 (Revised February 2025)
- Background Note
Corporate Climate Targets
By: Willy C. Shih, Michael W. Toffel and Kelsey Carter
Companies that are addressing climate change by mitigating their greenhouse gas emissions often set reduction targets. This note describes several types of widely used carbon reduction targets, including carbon neutral, science based, net zero, real zero, and carbon... View Details
Keywords: Corporate Sustainability; Environmental Strategy; Climate Risk; Target-setting; Climate Change; Environmental Sustainability; Corporate Accountability; Policy; Measurement and Metrics; Strategic Planning; Social Issues; Corporate Social Responsibility and Impact
Shih, Willy C., Michael W. Toffel, and Kelsey Carter. "Corporate Climate Targets." Harvard Business School Background Note 624-041, November 2023. (Revised February 2025.)
- October 2023 (Revised March 2024)
- Case
KOKO Networks: Bridging Energy Transition and Affordability with Carbon Financing
By: George Serafeim, Siko Sikochi and Namrata Arora
The problem was massive: two million hectares of African forests were lost annually to charcoal production for cooking, an area equivalent to 13 times Greater London, resulting in one billion tons of carbon emissions yearly. At the same time, an estimated 700,000... View Details
Keywords: Clean Tech; Digital; Carbon Credits; Carbon Offsetting; Climate Change; Entrepreneurship; Energy Sources; Environmental Sustainability; Health; Market Design; Business Startups; Transition; Environmental Regulation; Policy; Energy Industry; Consumer Products Industry; Africa; Kenya; Rwanda
Serafeim, George, Siko Sikochi, and Namrata Arora. "KOKO Networks: Bridging Energy Transition and Affordability with Carbon Financing." Harvard Business School Case 124-022, October 2023. (Revised March 2024.)
- September 2023
- Article
The Health Costs of Dirty Energy: Evidence from the Capacity Market in Colombia
By: Achyuta Adhvaryu, Theresa Molina, Anant Nyshadham, Jorge Tamayo and Nicholas Torres
The health effects of “dirty” (fossil fuel driven) energy production are difficult to measure accurately due to the endogeneity of fuel choice. We exploit an electricity policy in Colombia that generates a price-based trigger for the use of thermal energy sources.... View Details
Adhvaryu, Achyuta, Theresa Molina, Anant Nyshadham, Jorge Tamayo, and Nicholas Torres. "The Health Costs of Dirty Energy: Evidence from the Capacity Market in Colombia." Art. 103116. Journal of Development Economics 164 (September 2023).
- August 2023 (Revised September 2023)
- Case
T.G.S. Transportation: Battery Electric or Hydrogen?
By: Willy C. Shih
Peter Schneider, the President of T.G.S. Transportation, Inc., faced a choice. His company operated drayage trucks that moved containerized cargo between the Ports of Los Angeles, Long Beach, and Oakland to customers across the State of California, with a focus on the... View Details
Keywords: Decarbonization; Clean Technology; Energy; Energy Policy; Renewable Energy; Environmental Sustainability; Truck Transportation; Transportation Industry; United States; California
Shih, Willy C. "T.G.S. Transportation: Battery Electric or Hydrogen?" Harvard Business School Case 624-032, August 2023. (Revised September 2023.)
- 2024
- Working Paper
Migration, Climate Similarity, and the Consequences of Climate Mismatch
By: Marguerite Obolensky, Marco Tabellini and Charles Taylor
This paper examines the concept of “climate matching” in migration—the idea that migrants seek out destinations with familiar climates. Focusing on the US, we document that temperature distance between origin and destination predicts the distribution of migrants across... View Details
Keywords: Migration; Climate; Immigration; Residency; Weather; Ethnicity; Climate Change; Geographic Location; Policy; United States
Obolensky, Marguerite, Marco Tabellini, and Charles Taylor. "Migration, Climate Similarity, and the Consequences of Climate Mismatch." Harvard Business School Working Paper, No. 24-031, November 2023. (Revised November 2024. Also available from VoxEU, e-axes, and HBS Working Knowledge.)
- July 2023
- Article
Political Strategies for Climate and Environmental Solutions
By: Jonas Meckling and Valerie Karplus
Many of the barriers to progress in addressing environmental problems, such as climate change, are political. We argue that politics should not be seen only as a constraint but be recognized as a target of intervention to advance environmental solutions. We use the... View Details
Meckling, Jonas, and Valerie Karplus. "Political Strategies for Climate and Environmental Solutions." Nature Sustainability 6, no. 7 (July 2023): 742–751.
- March 2023
- Supplement
Allianz Türkiye (C): Managing the 2017 Hail Storm
By: John D. Macomber and Fares Khrais
Allianz Turkey is a property casualty insurance company operating in a region experiencing increasing losses from natural catastrophe events related to climate change, for example hail, wildfire, and flooding. There are also substantial other natural catastrophe... View Details
Keywords: Insurance And Reinsurance; Natural Disasters; Turkey; Insurance; Climate Change; Analytics and Data Science; Insurance Industry; Financial Services Industry; Turkey
Macomber, John D., and Fares Khrais. "Allianz Türkiye (C): Managing the 2017 Hail Storm." Harvard Business School Supplement 223-084, March 2023.
- March 2023 (Revised April 2024)
- Case
Allianz Türkiye: Adapting to Climate Change
By: John D. Macomber and Fares Khrais
Allianz Turkey is a property casualty insurance company operating in a region experiencing increasing losses from natural catastrophe events related to climate change, for example hail, wildfire, and flooding. There are also substantial other natural catastrophe... View Details
Keywords: Insurance And Reinsurance; Natural Disasters; Turkey; Insurance; Climate Change; Analytics and Data Science; Insurance Industry; Financial Services Industry; Turkey
Macomber, John D., and Fares Khrais. "Allianz Türkiye: Adapting to Climate Change." Harvard Business School Case 223-074, March 2023. (Revised April 2024.)
- March 2023
- Teaching Note
Sustainability Reporting at Dollar Tree, Inc.
By: Suraj Srinivasan and Li-Kuan Ni
Teaching Note for HBS Case No. 122-044. The case discusses the ESG strategy of Dollar Tree Inc., a U.S. Fortune 500 company in the deep discount retail industry and the shareholder pressure faced by the company. In 2022, the company faced a shareholder resolution from... View Details
Keywords: ESG; Sustainability; Shareholder Activism; Dollar Tree; Sustainability Reporting; ESG Reporting; Board Of Directors; Shareholder Engagement; GHG; Environmental Accounting; Integrated Corporate Reporting; Trends; Communication; Announcements; Voting; Environmental Management; Climate Change; Environmental Sustainability; Values and Beliefs; Corporate Accountability; Corporate Disclosure; Corporate Governance; Governing Rules, Regulations, and Reforms; Policy; Reports; Business or Company Management; Risk Management; Corporate Social Responsibility and Impact; Outcome or Result; Strategic Planning; Business and Stakeholder Relations; Situation or Environment; Opportunities; Civil Society or Community; Social Issues; Public Opinion; Strategy; Adaptation; Alignment; Business Strategy; Corporate Strategy; Value Creation; Retail Industry; United States; Virginia
- February 2023
- Article
National Models of Climate Governance Among Major Emitters
By: Johnathan Guy, Esther Shears and Jonas Meckling
National climate institutions structure the process of climate mitigation policymaking and shape climate policy ambition and performance. Countries have, for example, been building science bodies, passing climate laws and creating new agencies. Here we provide the... View Details
Guy, Johnathan, Esther Shears, and Jonas Meckling. "National Models of Climate Governance Among Major Emitters." Nature Climate Change 13, no. 2 (February 2023): 189–195.
- August 2023
- Article
Taking Stock of the Implementation Gap in Climate Policy
By: Taryn Fransen, Jonas Meckling, Anna Stunzi, Tobias Schmidt, Florian Egli, Nicolas Schmid and Christopher Beaton
A gap persists between the emissions reductions pledged by countries under the Paris Agreement and those resulting from their domestic policies. We argue that this gap in fact contains two parts: one in the policies that countries adopt, and the other in the outcomes... View Details
Keywords: Emission Reduction; Outcome or Result; Policy; Environmental Regulation; Equality and Inequality
Fransen, Taryn, Jonas Meckling, Anna Stunzi, Tobias Schmidt, Florian Egli, Nicolas Schmid, and Christopher Beaton. "Taking Stock of the Implementation Gap in Climate Policy." Nature Climate Change 13, no. 8 (August 2023): 752–755.
- 2023
- Article
Green Bargains: Leveraging Public Investment to Advance Climate Regulation
By: Jonas Meckling and Jesse Strecker
Climate policy has entered a new era as public investment is increasingly moving to center stage, including recovery spending and long-term climate investment plans. While essential for decarbonization, public investment is not enough – the carrots of investment need... View Details
Keywords: Government and Politics; Environmental Regulation; Climate Change; Policy; Motivation and Incentives
Meckling, Jonas, and Jesse Strecker. "Green Bargains: Leveraging Public Investment to Advance Climate Regulation." Climate Policy 23, no. 4 (2023): 418–429.
- June 2022 (Revised August 2022)
- Case
Sustainability Reporting at Dollar Tree, Inc.
By: Suraj Srinivasan and Li-Kuan Ni
The cases discusses the ESG strategy of Dollar Tree Inc., a U.S. Fortune 500 company in the deep discount retail industry and the and shareholder pressure faced by the company. In 2022, the company faced a shareholder resolution from a renowned shareholder advocacy... View Details
Keywords: ESG; Sustainability; Shareholder Activism; Dollar Tree; Sustainability Reporting; ESG Reporting; Board Of Directors; Shareholder Engagement; GHG; Environmental Accounting; Integrated Corporate Reporting; Trends; Communication; Announcements; Voting; Environmental Management; Climate Change; Environmental Sustainability; Values and Beliefs; Corporate Accountability; Corporate Disclosure; Corporate Governance; Governing Rules, Regulations, and Reforms; Policy; Reports; Business or Company Management; Risk Management; Corporate Social Responsibility and Impact; Outcome or Result; Strategic Planning; Business and Stakeholder Relations; Situation or Environment; Opportunities; Civil Society or Community; Social Issues; Public Opinion; Strategy; Adaptation; Alignment; Business Strategy; Corporate Strategy; Value Creation; Retail Industry; United States; Virginia
Srinivasan, Suraj, and Li-Kuan Ni. "Sustainability Reporting at Dollar Tree, Inc." Harvard Business School Case 122-044, June 2022. (Revised August 2022.)
- June 2022 (Revised January 2023)
- Case
South Africa – a 'Just Energy Transition'
By: Richard Vietor
South Africa, like most other countries, is in the process of reducing its carbon emissions to comply with COP26 and, hopefully, reach net zero emissions by 2050. However, because South Africa relies almost wholly on coal (93%) for electricity, and on coal for... View Details
Keywords: Energy; Economic Development; Climate Change; Coal Mining; Emission Reduction; Environmental Regulation; Environmental Sustainability; Environmental Law; Labor and Management Relations; Labor Unions; Natural Resources; Energy Policy; Energy Sources; South Africa
Vietor, Richard. "South Africa – a 'Just Energy Transition'." Harvard Business School Case 722-069, June 2022. (Revised January 2023.)
- June 2022
- Case
Business Implications from Regulating Carbon Emissions in the EU
By: George Serafeim and Benjamin Maletta
In the beginning of the 21st century, the European Union (the EU) had led the global fight against climate change with a wide array of policy measures. The EU’s primary approach to climate policy had been taxation via the European Union Emissions Trading System (EU... View Details
Keywords: Regulation; Carbon Emissions; Trade; Sustainability; Decarbonization; Performance; Climate Change; Analysis; Strategy; Taxation; Policy; Environmental Regulation; Industry Structures; European Union
Serafeim, George, and Benjamin Maletta. "Business Implications from Regulating Carbon Emissions in the EU." Harvard Business School Case 122-106, June 2022.
- 2022
- Chapter
Capitalism and the Environment
By: Geoffrey Jones
Capitalism drove the environmental decimation of the planet. The environment was seen as a free good, while the consequences of dirty industrial and agricultural processes were seen as external to the firm. Public policies largely allowed this to happen, as politicians... View Details
Keywords: History; Environment; Sustainability; Capitalism; Ethics; Business History; Environmental Sustainability; Green Technology; Pollution; Climate Change
Jones, Geoffrey. "Capitalism and the Environment." Chap. 8 in Evolutions of Capitalism: Historical Perspectives: 1200–2000, edited by Catherine Casson and Philipp Robinson Rössner, 187–211. Bristol, United Kingdom: Bristol University Press, 2022.