A report published by the Bank for International Settlements(BIS) has found that companies that have more women working for them in positions of managers end up producing less carbon than the ones where more men are hired. The report findings said that companies tend to be in a more profit-making situation with a diverse staff throughout a company’s levels. The study analyzed over 2,000 listed companies in 24 advanced economies beginning from 2009 to 2019 which showed that a “1-percentage point increase in female managers in the workplaces was related to 0.5% decrease in carbon emissions.”
The BIS is an international financial institution that oversees the world’s central banks. “This effect is robust controlling for institutional differences due to culture and religion,” Yener Altunbas, Leonardo Gambacorta, Alessio Reghezza and Giulio Velliscig, researchers of the study said.
Earlier studies conducted on similar lines had given ‘conflicted findings’. This one found that since managers are crucial to a company’s approach towards the climate because they are chosen to select an efficient strategy to achieve objectives set for climate concerns. And the study found that women managers are in general more careful and focused on protecting the environment as compared to their male counterparts.
Several academic findings have earlier stated how women are more likely to keep in mind the overall well-being on the society.
China, US, India and Russia are four countries along with the European Union that are responsible for most of the planet’s emissions of carbon dioxide (CO2), the most common greenhouse gas responsible for global warming, the BBC reported. While India produces lowest emissions per person among the top five regions, the country’s annual CO2 emissions have risen at a steady pace in the past two decades. In this year’s climate conference or COP26 summit held in Glasgow, Prime Minister Narendra Modi said India would aim for net zero carbon emissions by 2070.