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  • May 2020
  • Article
  • AEA Papers and Proceedings

Tackling Climate Change Requires Organizational Purpose

By: Rebecca Henderson and George Serafeim
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Abstract

Unchecked climate change presents a profound threat to economic growth and political stability but despite widespread public concern about the issue, global emissions of greenhouse gases have not declined. Indeed current “business as usual” predictions imply that average global temperatures will rise by more than 4⁰C by 2100, with potentially catastrophic results. In this paper, we argue that while putting in place an effective regime for pricing GHG emissions is more essential than ever, it is unlikely to be sufficient. It is in this context that we hypothesize that increasing the fraction of commercial firms who are “authentically purpose-driven” might have a very significant effect on the problem of climate change.

Keywords

Corporate Purpose; Purpose; Sustainability; Environment; Climate Change; Organizations; Mission and Purpose; Environmental Sustainability; Strategy; Leadership

Citation

Henderson, Rebecca, and George Serafeim. "Tackling Climate Change Requires Organizational Purpose." AEA Papers and Proceedings 110 (May 2020): 177–180.
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About The Authors

Rebecca M. Henderson

General Management
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George Serafeim

Accounting and Management
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    • January 2023
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    Organizational Climate Transition Risk Model

    By: George Serafeim and Benjamin Maletta
    • January 9, 2023
    • Financial Times

    The Pursuit of Profit with Purpose Requires Patience

    By: George Serafeim
    • December 2022
    • Faculty Research

    Risks and Opportunities from the Transition to a Low Carbon Economy: A Business Analysis Framework

    By: George Serafeim
More from the Authors
  • Organizational Climate Transition Risk Model By: George Serafeim and Benjamin Maletta
  • The Pursuit of Profit with Purpose Requires Patience By: George Serafeim
  • Risks and Opportunities from the Transition to a Low Carbon Economy: A Business Analysis Framework By: George Serafeim
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