Corporate governance and sustainability: examining boardroom gender diversity

Purpose This study examines the influence of female directors on corporate environmental performance among the top 250 firms by revenue across 31 countries during 2013–2023. The objective is to assess whether gender diversity in boards enhances environmental outcomes in both developed and developing economies. Design/methodology/approach The analysis employs panel data estimation methods with board-level characteristics (meetings, attendance and board size) and firm-level financial controls (revenue per share, assets per share, operating cash flow, common equity and price-to-book ratio). Environmental performance is captured through greenhouse gas emissions, validated with Scope 1 and 2 emission measures. Findings Results indicate a statistically significant negative relationship between female directors and emissions, particularly in developing countries. The evidence highlights that achieving a critical mass of three or more female directors strengthens the reduction in greenhouse gas emissions. Research limitations/implications The findings are based on large firms across multiple countries and may not capture the dynamics of smaller or privately held companies. Future studies could integrate cultural and institutional variables to further explain cross-country differences. Practical implications The results emphasize the role of gender-diverse boards in advancing corporate environmental strategies, suggesting that policies encouraging female board participation may also drive sustainability goals. Social implications The study reinforces that gender diversity is not only a social imperative but also a mechanism to address environmental challenges, linking inclusivity with sustainability. Originality/value This research contributes by demonstrating the environmental value of board gender diversity through multi-country evidence and by identifying the significance of critical mass in enhancing environmental outcomes.