Advertising and Environmental Stewardship: Evidence from the BP Oil Spill

Lint Barrage · Eric T. Chyn · Justine Hastings

60 citations0/0 files storedAmerican Economic Journal Economic Policy

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Environmental Sustainability in Business Corporate Social Responsibility Reporting Consumer Market Behavior and Pricing

Abstract

This paper explores whether private markets can incentivize environmental stewardship. We examine the consumer response to the 2010 BP oil spill and test how BP's investment in the 2000-2008 "Beyond Petroleum" green advertising campaign affected this response. We find evidence consistent with consumer punishment: BP station margins and volumes declined by 2.9 cents per gallon and 4.2 percent, respectively, in the month after the spill. However, pre-spill advertising significantly dampened the price response, and may have reduced brand switching by BP stations. These results indicate that firms may have incentives to engage in green advertising without investments in environmental stewardship.

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1958An Economic Theory of Democracy.1960The Problem of Social Cost 2000Cooperation and Punishment in Public Goods Experiments 2011The Drivers of Greenwashing 1986Price and Advertising Signals of Product Quality 2000The Effects of Canvassing, Telephone Calls, and Direct Mail on Voter Turnout: A Field Experiment 2003Social Accountability and Corporate Greenwashing 2012Economic Perspectives on Corporate Social Responsibility

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