Greenwashing Premium

This dataset is the replication package for "The Greenwashing Premium: Satellite Evidence from US Heavy Emitters". It contains the programs, analysis-ready data, and instructions needed to reproduce every table and figure in the paper.
The paper introduces a Claim-Reality Divergence (CRD) index for 233 US publicly listed heavy-emitting firms, 2018–2023. The index triangulates three measures: (i) ESG language intensity from SEC 10-K filings and earnings call transcripts, (ii) facility-level methane emissions reported to the EPA Greenhouse Gas Reporting Program (GHGRP), and (iii) atmospheric methane column densities observed by the Sentinel-5P TROPOMI satellite via Google Earth Engine. The package documents how a one standard deviation increase in ESG text intensity is associated with a 0.64–0.69 standard deviation increase in CRD, and that the divergence is concentrated in the voluntary investor-communication layer rather than in regulatory filings.
The package contains: (1) two analysis-ready datasets in CSV format covering 1,937 firm-year observations, (2) a one-command reproduction script that regenerates all tables and figures in under 60 seconds, (3) the full data-construction pipeline from raw sources, (4) a README with replication instructions, and (5) a codebook documenting every variable. Two underlying raw data sources are proprietary (Compustat North America via WRDS; earnings call transcripts) and cannot be redistributed, but the analysis-ready datasets allow full reproduction of the paper's results without proprietary access. All other data sources (SEC EDGAR, EPA GHGRP, EPA ECHO, ESA Sentinel-5P TROPOMI) are public.