Johnson, T.F. and Greenwell, M.P. (2022) Are companies using Twitter to greenwash and hide bad environmental performance? Energy, Ecology and Environment, 7 (3). pp. 213-226. ISSN 2363-7692
Abstract
Companies and related consumer behaviours contribute significantly to global carbon emissions. However, consumer behaviour is shifting, with the public now recognising the real and immediate impact of climate change. Many companies are aware and seemingly eager to align to consumer’s increasing environmental consciousness, yet there is a risk that some companies could be presenting themselves as environmentally friendly without implementing environmentally beneficial processes and products (i.e. greenwashing). Here, using longitudinal climate leadership, environmental messaging (Twitter) and stock price data, we explore how climate leadership (a relative climate change mitigation metric) and environmental messaging have changed for hundreds of UK companies. Using the environmental messaging, we also assess whether companies are simply greenwashing their true climate change performance. Finally, we explore how climate leadership and environmental messaging influence companies’ stock prices. We found that companies (on average) have increased their climate leadership (coef: 0.14, CI 0.12–0.16) and environmental messaging (coef: 0.35, CI 0.19–0.50) between 2010 and 2019. We also found an association where companies with more environmental messaging had a higher climate leadership (coef: 0.16, CI 0.07–0.26), suggesting messaging was proportionate to environmental performance, and so there was no clear pattern of using Twitter for greenwashing across UK companies. In fact, some companies may be under-advertising their pro-environmental performance. Finally, we found no evidence that climate leadership, environmental messaging or greenwashing impacts a company’s stock price.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © The Author(s) 2022. Open Access: This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/. |
Keywords: | Climate change; Corporate social responsibility; Environment; Finance; Greenwashing; Sustainability |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Science (Sheffield) > School of Biosciences (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 23 May 2022 13:45 |
Last Modified: | 10 Feb 2023 14:13 |
Status: | Published |
Publisher: | Springer Science and Business Media LLC |
Refereed: | Yes |
Identification Number: | 10.1007/s40974-021-00237-y |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:187215 |
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