This paper examines leadership in relation to supplying a global public good. Both the Kyoto Protocol and the Paris Agreement encourage the developed countries to take a lead in reducing emissions. Does a country benefit from taking a lead? When does leadership improve global welfare? The answer...

On March 21, 2022, the SEC proposed a rule that would make corporate greenhouse gas (GHG) emissions reporting mandatory. That decision may break the impasse over whether corporate social responsibility reporting should be designed solely for the benefit of investors—single materiality—or for...