IDEAS home Printed from https://ideas.repec.org/a/wly/sustdv/v33y2025is1p27-47.html

Women in the C‐Suite and Carbon Mitigation Actions: Understanding the Impact of the Disruptive Shocks From the COVID19 Pandemic and the Ukraine War

Author

Listed:
  • Isabel‐María García‐Sánchez
  • Cristina Aibar‐Guzmán
  • Nazim Hussain
  • Beatriz Aibar‐Guzmán

Abstract

Achieving carbon neutrality by 2050 requires the implementation of ambitious policies and initiatives to reduce carbon emissions at the corporate level, which typically requires strong commitment from the top management team. This study examines to what extent greater female representation on top management teams leads to the development of a more advanced and integrated carbon reduction strategy, and how the context of crisis and uncertainty arising from the COVID19 and the Russia–Ukraine war may affect this relationship. Based on an index that measures the level of development of carbon mitigation actions, the findings, based on panel data from 3,212 multinational firms from 2013 to 2022, confirm the driving role of gender diversity in the C‐suite in the process of corporate decarbonization, especially in the timeframe leading up to the disruptive period 2020–2022. The results are robust to alternative methodological choices, confirming their research and practical implications.

Suggested Citation

  • Isabel‐María García‐Sánchez & Cristina Aibar‐Guzmán & Nazim Hussain & Beatriz Aibar‐Guzmán, 2025. "Women in the C‐Suite and Carbon Mitigation Actions: Understanding the Impact of the Disruptive Shocks From the COVID19 Pandemic and the Ukraine War," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(S1), pages 27-47, November.
  • Handle: RePEc:wly:sustdv:v:33:y:2025:i:s1:p:27-47
    DOI: 10.1002/sd.3549
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/sd.3549
    Download Restriction: no

    File URL: https://libkey.io/10.1002/sd.3549?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Su, Wenjia & Junge, Sebastian, 2023. "Unlocking the recipe for organizational resilience: A review and future research directions," European Management Journal, Elsevier, vol. 41(6), pages 1086-1105.
    2. Justin Roush & Mina Lee & Seung-Hyun Lee, 2025. "Are the queens green?: Corporate executive gender and the environmental performance of the firm," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 49(1), pages 225-247, March.
    3. Marina Mattera & Federico Soto, 2022. "Dodging the bullet: overcoming the financial impact of Ukraine armed conflict with sustainable business strategies and environmental approaches," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 24(1), pages 122-142, December.
    4. García-Sánchez, Isabel-María & Aibar-Guzmán, Beatriz & Raimo, Nicola & Vitolla, Filippo & Schiuma, Giovanni, 2024. "Climate governance, growth opportunities, and innovation in addressing climate change: Empirical evidence from emerging countries," Finance Research Letters, Elsevier, vol. 70(C).
    5. Albertina Paula Monteiro & Isabel-María García-Sánchez & Beatriz Aibar-Guzmán, 2022. "Labour Practice, Decent Work and Human Rights Performance and Reporting: The Impact of Women Managers," Journal of Business Ethics, Springer, vol. 180(2), pages 523-542, October.
    6. Marina Mattera & Federico Soto, 2022. "Dodging the bullet: overcoming the financial impact of Ukraine armed conflict with sustainable business strategies and environmental approaches," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 24(1), pages 122-142, December.
    7. Suwongrat Papangkorn & Pattanaporn Chatjuthamard & Pornsit Jiraporn & Sirisak Chueykamhang, 2021. "Female directors and firm performance: Evidence from the Great Recession," International Review of Finance, International Review of Finance Ltd., vol. 21(2), pages 598-610, June.
    8. Lu, Qicheng & Meng, Xiangju & Su, Jiaoyue & Au Kai Ming, Alan & Wu, Yongjie & Wang, Chengqi, 2023. "TMT functional background heterogeneity and SMEs’ performance: The role of dynamic capabilities and business environment," Journal of Business Research, Elsevier, vol. 160(C).
    9. Orlando Curtae' Richard & Jie Wu & Livia Anna Markoczy & Yunhyung Chung, 2019. "Top management team demographic‐faultline strength and strategic change: What role does environmental dynamism play?," Strategic Management Journal, Wiley Blackwell, vol. 40(6), pages 987-1009, June.
    10. Altunbas, Yener & Gambacorta, Leonardo & Reghezza, Alessio & Velliscig, Giulio, 2022. "Does gender diversity in the workplace mitigate climate change?," Journal of Corporate Finance, Elsevier, vol. 77(C).
    11. Frederic Läger & Yassin Denis Bouzzine & Rainer Lueg, 2025. "Carbon performance and corporate financial performance during crises: Evidence from the COVID‐19 pandemic and the Global Financial Crisis," Journal of Industrial Ecology, Yale University, vol. 29(1), pages 246-263, February.
    12. Mohammed Benlemlih & M. Arif & M. Nadeem, 2023. "Institutional Ownership and Greenhouse Gas Emissions: A Comparative Study of the UK and the USA," Post-Print hal-04435468, HAL.
    13. Jérôme Caby & Clotilde Coron, 2022. "The Effect of Top Management Team Gender Diversity on Climate Change Management: An International Study," Post-Print hal-03530985, HAL.
    14. Jérôme Caby & Clotilde Coron & Ydriss Ziane, 2022. "The Effect of Top Management Team Gender Diversity on Climate Change Management: An International Study," Sustainability, MDPI, vol. 14(2), pages 1-16, January.
    15. Cristina Ciocirlan & Caroline Pettersson, 2012. "Does Workforce Diversity Matter in the Fight against Climate Change? An Analysis of Fortune 500 Companies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 19(1), pages 47-62, January.
    16. Zaheer Allam & Simon Elias Bibri & Samantha A. Sharpe, 2022. "The Rising Impacts of the COVID-19 Pandemic and the Russia–Ukraine War: Energy Transition, Climate Justice, Global Inequality, and Supply Chain Disruption," Resources, MDPI, vol. 11(11), pages 1-17, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Isabel‐María García‐Sánchez & Miriam Núñez‐Torrado & Cristina Aibar‐Guzmán & Beatriz Aibar‐Guzmán, 2025. "Beyond Climate Targets: Exploring When and How Female Directors Influence Corporate Decarbonization Transparency," Business Strategy and the Environment, Wiley Blackwell, vol. 34(3), pages 3892-3912, March.
    2. Caby, Jérôme & Coron, Clotilde & Ziane, Ydriss, 2024. "How does gender diversity in top management teams affect carbon disclosure and its quality: Evidence from the technological industry," Technological Forecasting and Social Change, Elsevier, vol. 199(C).
    3. Mushtaq Hussain Khan & Inam Ul Haq & Muhammad Umer Azeem & Abdul Ghafoor, 2025. "Climate Change Initiatives, Environmental Management Training, and Firm Performance: The Trickle‐Down Effect of Board‐Level Gender Diversity on Gender Diversity in the top Management Team," Business Strategy and the Environment, Wiley Blackwell, vol. 34(7), pages 9274-9300, November.
    4. Dewan Muktadir‐Al‐Mukit & Firoz Haroon Bhaiyat, 2024. "Impact of corporate governance diversity on carbon emission under environmental policy via the mandatory nonfinancial reporting regulation," Business Strategy and the Environment, Wiley Blackwell, vol. 33(2), pages 1397-1417, February.
    5. Ayman Issa & Mohammad A. A. Zaid, 2023. "Firm's biodiversity initiatives disclosure and board gender diversity: A multi‐country analysis of corporations operating in Europe," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4991-5007, November.
    6. Nurshahirah Abd Majid & Amar Hisham Jaaffar, 2023. "The Effect of Women’s Leadership on Carbon Disclosure by the Top 100 Global Energy Leaders," Sustainability, MDPI, vol. 15(11), pages 1-26, May.
    7. Yakira Fernández-Torres & Clara Gallego-Sosa & Milagros Gutiérrez-Fernández, 2025. "Do women board members contribute to companies’ superior environmental performance? A literature review," Review of Managerial Science, Springer, vol. 19(5), pages 1513-1565, May.
    8. Marina Kovaleva & Walter Leal Filho & Christian Borgemeister & Jokastah Wanzuu Kalungu, 2022. "Understanding Needs and Potentials for Gender-Balanced Empowerment and Leadership in Climate Change Adaptation and Mitigation in Africa," Sustainability, MDPI, vol. 14(15), pages 1-27, August.
    9. Chen, Zhonglu & Umar, Muhammad & Su, Chi-Wei & Mirza, Nawazish, 2023. "Renewable energy, credit portfolios and intermediation spread: Evidence from the banking sector in BRICS," Renewable Energy, Elsevier, vol. 208(C), pages 561-566.
    10. Alexandra Horobet & Alexandra Smedoiu-Popoviciu & Robert Oprescu & Lucian Belascu & Alma Pentescu, 2025. "Seeing through the haze: greenwashing and the cost of capital in technology firms," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(9), pages 21651-21682, September.
    11. Mohamed M. Sraieb & Shahnawaz Muhammed & Vladimir Dženopoljac & Samet Gunay, 2025. "Determinants of Russia’s probability of default: evidence from domestic and global indicators," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 49(3), pages 854-882, September.
    12. Salami, Monsurat Ayojimi & Tanrıvermiş, Harun & Tanrıvermiş, Yesim, 2024. "Influence of Ukraine invasion by Russia on Turkish markets," The Journal of Economic Asymmetries, Elsevier, vol. 29(C).
    13. Nurlan Orazalin & Mady Baydauletov, 2020. "Corporate social responsibility strategy and corporate environmental and social performance: The moderating role of board gender diversity," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(4), pages 1664-1676, July.
    14. Feng Wei & Yongjun Mo & Yi Zhang & Yi Yang, 2025. "How entrepreneurial team informational and social category faultlines affect new venture performance: A conservation of resources perspective," Asia Pacific Journal of Management, Springer, vol. 42(3), pages 1345-1372, September.
    15. Altunbaş, Yener & Khan, Atiqur & Thornton, John, 2023. "Do M&As impact firm carbon intensity?11The views expressed in this paper are those of the authors and should not be attributed to the institutions with which they are affiliated.," Energy Economics, Elsevier, vol. 128(C).
    16. Lin Liang & Yan Li & Dongheng Han, 2025. "The Dual-Pathway Effect of Organizational Resilience on Firm Market Value in China: A Double-Edged Sword," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(4), pages 14528-14552, October.
    17. Jingsi Zhang & Liangqun Qi, 2021. "Crisis Preparedness of Healthcare Manufacturing Firms during the COVID-19 Outbreak: Digitalization and Servitization," IJERPH, MDPI, vol. 18(10), pages 1-23, May.
    18. Ishmael Tingbani & Lyton Chithambo & Venancio Tauringana & Nikolaos Papanikolaou, 2020. "Board gender diversity, environmental committee and greenhouse gas voluntary disclosures," Business Strategy and the Environment, Wiley Blackwell, vol. 29(6), pages 2194-2210, September.
    19. Edwin Yingi, 2024. "War in foreign lands, hunger at home the implications of the Russia-Ukraine war on hunger and food security in Africa," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 13(6), pages 229-241, September.
    20. Khine Kyaw & Sirimon Treepongkaruna & Pornsit Jiraporn, 2021. "Stakeholder engagement and firms' innovation: Evidence from LGBT‐supportive policies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(4), pages 1285-1298, July.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:sustdv:v:33:y:2025:i:s1:p:27-47. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1099-1719 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.