Voluntary Corporate Climate Targets in a Patchwork Policy Landscape

This Energy Policy Seminar will examine how voluntary corporate greenhouse gas reduction commitments interact with public policies. Researchers from the Corporate Climate Targets Project at the Salata Institute for Climate and Sustainability will present the online dashboard for the Salata Institute Corporate Climate Targets Database, which documents the climate targets of Russell 3000 firms over 2000–2024. The seminar will also explore how corporate targets often mirror government goals and policies and discuss the empirical challenges and research opportunities involved in evaluating the emissions impact of voluntary corporate commitments.

Q&A to follow. Buffet-style lunch will be served.

Registration: RSVP required. A Harvard University ID is required for in-person attendance; all are welcome to attend via Zoom.

Recording: The seminar will be recorded and available to watch on the Belfer Center's YouTube channel.

Accessibility: To request accommodations or who have questions about access, please contact Elizabeth Hanlon-Warren (ehanlon@hks.harvard.edu) in advance of the session.

About the Speakers

Joseph Aldy

Joe Aldy is the Teresa and John Heinz Professor of the Practice of Environmental Policy at the John F. Kennedy School of Government at Harvard University, a University Fellow at Resources for the Future, a Faculty Research Fellow at the National Bureau of Economic Research, and a Senior Adviser at the Center for Strategic and International Studies. He is also the Faculty Chair for the Regulatory Policy Program at the Mossavar-Rahmani Center for Business and Government. His research focuses on climate change policy, energy policy, and regulatory policy. In 2009-2010, Aldy served as the Special Assistant to the President for Energy and Environment, reporting through both the National Economic Council and the Office of Energy and Climate Change at the White House. Aldy was a Fellow at Resources for the Future from 2005 to 2008 and served on the staff of the President's Council of Economic Advisers from 1997 to 2000. He also served as the Co-Director of the Harvard Project on International Climate Agreements, Co-Director of the International Energy Workshop, and Treasurer for the Association of Environmental and Resource Economists before joining the Obama Administration. He holds a PhD in economics from Harvard University, a Master of Environmental Management degree from the Nicholas School of the Environment, and a BA from Duke University.

Mike Toffel

Mike Toffel Toffel is the Senator John Heinz Professor of Environmental Management, Faculty Chair of the HBS Business and Environment Initiative, and teaches the Technology & Operations Management core MBA course. Toffel’s research examines how companies are managing environmental issues including risks and opportunities posed by climate change, and how companies are managing occupational safety and other aspects of working conditions in their operations and supply chains. He co-founded and is hosting the HBS Climate Rising podcast, which covers a range of business and climate change topics, and co-created the HBS Working Conditions in Supply Chains microsite to summarize empirical academic work in that field.

His work ranges from academic articles based on econometric analyses of large datasets to case studies of individual companies. His research on occupational health and safety has been profiled by the head of U.S. OSHA and featured in the national press including US News & World Report and Scientific American. His research has been published in many top scholarly journals including Science, Management Science, Strategic Management Journal, Administrative Science Quarterly, and Organization Science, in practitioners journals including Sloan Management Review and California Management Review, and in mainstream outlets including The Atlantic Monthly and Newsweek/Daily.

Toffel received a Ph.D. from the Haas School of Business’ Business and Public Policy department at the University of California at Berkeley, an MBA from the Yale School of Management, a Master’s in Environmental Management (Industrial Environmental Management) from the Yale School of Forestry & Environmental Studies, and a BA in Government from Lehigh University. He has worked as the Director of Environment, Health and Safety at the Jebsen & Jessen (South East Asia) Group of Companies, based in Singapore. He has also worked as an environmental management consultant for Arthur Andersen, Arthur D. Little, and Xerox Corporation. He started his career as an operations management analyst at J.P. Morgan. 

Carissa Hanjani 

Carissa Hanjani is a Research Manager for the Harvard Salata Institute's Corporate Climate Targets Project, a research initiative studying corporate net-zero and other greenhouse gas emissions targets. In this role, she leads a team responsible for collecting climate targets data on the largest publicly traded firms in the U.S. covering a 25-year period, and conducts quantitative analysis on how climate targets shape corporate decision-making, and whether these goals translate into substantive corporate action and real emissions reductions. She has worked with Harvard faculties on academic research spanning corporate climate governance, environmental compliance, climate alliances, climate solutions, and the impact of climate target announcements on emissions reduction and financial indicators.

Carissa built her career in international development and climate policy, working with the Indonesian local and federal governments. At the World Bank, she worked on fiscal policy to leverage public service delivery advising the Ministry of Finance and managed a database on fiscal, socio and macroeconomics covering over 200 indicators over 20+ years period. She also contributed to publications on carbon pricing regulation and market-based instruments for environmental conservation. At the Global Green Growth Institute, she advised the Ministry of Environment and Forestry and local governments on nature-based solutions and payment for ecosystem services frameworks. At the Climate Policy Initiative, she supported the design of blended finance vehicles for high-value carbon sites across Madagascar, West Papua, Papua New Guinea, and Peru. Carissa holds a Master in Public Policy from the Harvard Kennedy School and dual Bachelor of Science degrees in Economics from the University of Birmingham and Universitas Indonesia.

Ariane Bretl

Ariane Bretl is a Research Assistant for the Harvard Salata Institute's Corporate Climate Targets Project. She is an aspiring sustainability analyst and consultant with a passion for driving meaningful change through data-driven strategies and innovative solutions. With an M.S. in Environment and Sustainability Management at Georgetown University, Bretl brings a strong academic foundation and hands-on experience to address complex environmental challenges. Her B.A. in Environment & Sustainability, Policy & Governance from Cornell University equipped me with a deep understanding of policy frameworks, governance strategies, and environmental systems.

Bretl's professional experiences reflects her ability to analyze, collaborate, and deliver results. From establishing quantitative success metrics for software products at Uplight to leading risk management strategies for over 200 events at Cornell, she thrives in roles that require both strategic insight and operational execution. She is also passionate about community engagement, demonstrated by her habitat management work promoting Monarch butterfly conservation.

With certifications in GHG Protocol’s Corporate Value Chain (Scope 3), Bloomberg ESG, and MS Excel, proficiency in R, and a global perspective shaped by travel and cross-cultural experiences, Bretl aims to help organizations integrate sustainability into their core strategies. Her interests in sustainable fashion and consumer goods in general, offshore wind energy, and marine ecosystems align with her vision to create scalable and impactful solutions for a more sustainable future.