Climate change has risen to board level on the corporate agenda. Under pressure from institutional investors, companies are reformulating their strategies for a low-carbon world. A novel aspect of the emerging corporate response is that executive compensation is being linked to climate performance. This article examines the different ways that climate-linked incentive pay is used at European and U.S. energy majors, and it develops a framework—aimed at companies in “hard-to-decarbonize” sectors—to understand the benefits, challenges, and key design options. It also makes recommendations on how this organizational practice might be refined over time.

中文翻译：

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将高管薪酬与气候绩效联系起来

气候变化已上升到公司议程的董事会层面。在机构投资者的压力下，企业正在重新制定低碳世界战略。新兴企业应对措施的一个新方面是高管薪酬与气候绩效相关联。本文研究了欧洲和美国能源巨头使用与气候相关的激励薪酬的不同方式，并开发了一个框架——针对“难以脱碳”行业的公司——以了解收益、挑战和关键设计选项。它还就如何随着时间的推移改进这种组织实践提出了建议。