Energy Economics and Finance Seminar
Event Summary
The seminar series in Energy Economics & Finance (EEF) is jointly organized by Wharton’s Business Economics and Public Policy Department, the Kleinman Center for Energy Policy, and Wharton’s Business, Climate and Environment Lab. The scope of the seminar includes regulation and policy papers. The scope of the seminar also includes environmental and transportation issues, as long as there is a connection with energy. Sessions are biweekly on Mondays from 3:30 p.m. – 4:30 p.m.
Snacks, beer, and wine will be served after the seminar!
For Fall 2024, the seminar will be held in-person in the Kleinman Center Classroom (Fisher Fine Arts Building Room 306).
Find and add a Google Calendar version of the schedule on the BEPP seminar page.
To sign up for the seminar, please send your name, email, and affiliation to Dhivya Kaushik: dhivya@wharton.upenn.edu
Talk Title: The Spillover Effects of Environmental Transparency and Enforcement Regulation: Evidence From Commodity Trading Firms
Abstract: This paper examines the effects of environmental transparency and enforcement regulation on the sourcing patterns of commodity trading firms (i.e., firms that source commodities from producers and distribute them downstream). By exploiting Brazil’s priority regulation targeting producers in deforestation-intense municipalities, I find trading firms do not reallocate their sourcing from regulated to unregulated locations. However, treated trading firms reduce their exposure to deforestation and CO2 emissions associated with their sourcing in both regulated and unregulated locations relative to control firms. Although the effect in regulated locations could reflect the first-order responses by producers, the positive spillover effect in unregulated locations suggests trading firms respond to upstream production shocks and enhance the sustainability of their firm-wide sourcing activities. Importantly, (i) local enforcement actions and (ii) voluntary commitments to zero-deforestation sourcing and third-party audits appear to be crucial factors in altering trading firms’ behavior and thereby enhancing the sustainability of commodity sourcing.
Sandra Schafhäutle
Assistant Professor of Accounting, WhartonSandra (Gabriele) Schafhäutle is assistant professor of accounting at the Wharton School. Her research primarily focuses on the use of information in capital markets, corporate disclosure, and transparency and disclosure incentives.
Fall Seminar Dates:
- 9/9: Imelda, Geneva Graduate Institute
- 9/16: Pari Sastry, Columbia University
- 9/30: Sandra Schafhäutle, University of Pennsylvania
- 10/14: Seth Blumsack, Penn State
- 10/28: Lucy Qiu, University of Maryland
- 12/2: Karen Palmer, Resources for the Future
