Working Papers present research work by both Danmarks Nationalbank’s employees and our partners. Working Papers are primarily targeted at professionals and people with an interest in central banking research as well as economics and finance in a broader sense.

Financial stability and financial risks

Working Paper: Walking the talk? Firm emissions and disclosure during the third phase of the EU emissions trading system

This study documents trends in emissions and emissions reporting for a sample of 141 large firms that were active within the EU Emissions Trading System during 2013–2019. Using text from annual reports, I document a rising share of information related to emissions. However, my measure of emissions talk is generally not predictive of past or future changes in firm emissions.