Graduation Year


Date of Submission


Document Type

Campus Only Senior Thesis


Best Senior Thesis in Environment, Economics, and Politics

Degree Name

Bachelor of Arts


Environment, Economics, and Politics (EEP)

Reader 1

Mary Evans

Reader 2

Eric Hughson

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Rights Information

© 2020 Samuel W Willett


Around the word there is a growing awareness and desire to take action concerning Greenhouse Gas emissions (IPCC 2014). There is a wide range of literature that establishes a negative relationship between environmental stewardship and valuation. This is based on a variety of factors from toxic chemical release to environmental rankings to Greenhouse Gas emissions. My objective is to add to existing literature by examining the valuation impact of the Greenhouse Gas Reporting Program implemented by the EPA in 2010. Results of this thesis do not differ from previous research but fail to establish a statistically significant negative return for firms included in the Greenhouse Gas Reporting Program. There is, however, a statistically significant relationship between total emissions for a firm and their cumulative abnormal return in the period examined. My results show that this particular release of information does not act as a surprise to the market for the entire sample or even subgroups of the Greenhouse Gas Reporting Program.

This thesis is restricted to the Claremont Colleges current faculty, students, and staff.