The transition towards carbon neutrality: insights from well-performing firms.

Given the growing importance of carbon neutrality and the need for further analysis of the phenomenon at a micro-level, an investigation of the characteristics of firms that have been able to show good results in terms of reduction in CO2 and its equivalents' emissions from 2020 to 2021 is performed. Through the application of OLS models, it is checked if some variables, dealing with environmental matters, ethical choices, managerial performances, the physical structure and the economic and/or financial performance of firms show a relationship with the good result in terms of variation in CO2 and its equivalents' emissions. The analysis focuses, at first, on a sample composed of unts spread worldwide, operating in different sectors and of different sizes, while then it is checked if the conclusions on the whole sample can be considered as valid also for sub-samples based on geographical, economic sector and size based distinctions. What is found out in the overall investigation is that, rather than other kinds of categories of variables, the one whose components show the most frequent relationship with the capability of having reduced emissions is the one regarding the ethical choices. This outcome leads to assert, in turn, the capability of being a well-performer in terms of carbon neutrality is strongly related to the development of a pervasive and virtuous internal organizational culture within firms, rather than direct interventions in environmental matters or in favor of third parties. That is what enterpreneurs and managers that aims to start the complex transition toward carbon neutrality have to take into account.