The Study Of Effect Of Voluntary Carbon Disclosure On Investor Protection

Climate change is not only deeply connected to our daily life,but also to business profits and investors.With the fast development of carbon related regulations and emission trading market,investors and customers are willing to know whether companies are ready for climate change.Comprehensive carbon disclosure is necessary.As one of the most widely accepted voluntary carbon disclosure system,Carbon Disclosure Project(CDP)is the biggest non-profit organization focusing on climate change information of listed companies around the world.CDP insists that voluntary carbon disclosure helps companies to adapt to the changes of carbon related regulations,recognize the opportunities brought by energy saving and emission reduction,and create more profit for investors.Therefore,in this dissertation I discussed how voluntary carbon disclosure of China's listed companies in CDP affected investor protection,based on CDP China reports.After the review of theory and current literature,I conducted the study of status of voluntary carbon disclosure of China's listed companies.Then according to the results of regression analysis I found that voluntary carbon disclosure is positively related to investor protection.Also,I further did my research with multiple cases,'to see whether the quality of voluntary carbon disclosure affected investor protection.Multiple cases study results showed that the higher quality of voluntary carbon disclosure means the better performance in investor protection.At the end of the dissertation I made my suggestions to the problems coming from status of voluntary carbon disclosure of China's listed companies,such as improving the enthusiasm and quality of voluntary carbon disclosure,paying more attention to investor protection.