Intended and Unintended Consequences of Facility-Level Mandatory CSR Disclosure: Evidence From the Greenhouse Gas Reporting Program

Lavender Yin Yang, Nicholas Z. Muller, Pierre Jinghong Liang, The Salata Institute for Climate and Sustainability, Harvard University, Cambridge MA, Tepper School of Business, Department of Engineering and Public Policy Carnegie Mellon University, National Bureau of Economic Research, Pittsburgh PA, Tepper School of Business, Carnegie Mellon University, Pittsburgh PA

Journal of Accounting, Auditing & Finance

Published online on January 22, 2026

Abstract

Journal of Accounting, Auditing & Finance, Ahead of Print.
We study the real effects of the first nationwide mandatory CSR disclosure regulation in the U.S., the Greenhouse Gas Reporting Program (GHGRP). Starting in 2010, the Environmental Protection Agency (EPA) requires the disclosure of greenhouse gas ...