Between Substance and Symbolism: How Resources and Organizational Facades Interact in Voluntary Climate Commitments

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Abstract
Firms increasingly disclose their climate action strategies through voluntary initiatives, yet concerns persist about the substantive impact of such disclosures. This study investigates how internal resources interact with organizational facades—symbolic mechanisms designed to reinforce legitimacy to stakeholders—in shaping corporate climate commitments. Using multivariate econometric regressions on a sample of 271 Colombian companies participating in the United Nations Global Compact (UNGC), we assess how governance, information, systems, and technology (GISTe) resources influence reported Climate Action Commitments (CAC) aligned with the Sustainable Development Goals (SDGs). Our results show that governance, information, and R&D resources are most strongly associated with higher CAC and that facades exert significant direct and moderating effects, especially on governance and information. These findings contribute novel empirical evidence to the literature on symbolic corporate environmentalism. Practically, they suggest that firms in weakly regulated contexts may use stakeholder engagement not only to comply symbolically but also to enhance the perceived credibility of their environmental commitments. The study offers valuable insights for policymakers and sustainability advocates aiming to strengthen monitoring mechanisms and reduce the gap between reported and actual climate performance in developing economies.

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