Female Leadership as a Factor of Sustainability: A Study With Companies From the B3 ICO2 Index

Albert Schiaveto de Souza; Ana Flavia de Moraes Moraes; Ana Claudia de Araujo Moxoto; Armando Araújo de Souza Júnior; Sérgio Augusto Tôrres Mendes; Ricardo Jorge da Cunha Costa Nogueira

doi:10.1111/basr.70029

journal article Dec 22, 2025

Female Leadership as a Factor of Sustainability: A Study With Companies From the B3 ICO2 Index

Albert Schiaveto de Souza Ana Flavia de Moraes Moraes Ana Claudia de Araujo Moxoto

Armando Araújo de Souza Júnior Sérgio Augusto Tôrres Mendes Ricardo Jorge da Cunha Costa Nogueira

Business and Society Review Vol. 131 No. 1 · Wiley

View at Publisher Save 10.1111/basr.70029

Abstract

ABSTRACT
Female leadership has been recognized as an essential tool for promoting corporate sustainability. This study analyzed the relationship between the presence of women in leadership positions and sustainability in 72 companies listed on the ICO2 index of the Brazilian Stock Exchange (B3) using Gretl software to identify the correlation between these variables, measured by the greenhouse gas (GHG) indicator. The results indicate that the participation of women in strategic positions plays a significant role in reducing GHG emissions, with a minimum representation of 7% women in leadership positions being observed to result in a significant reduction in GHG emissions. These findings suggest that gender diversity in leadership positions can strengthen more sustainable and environmentally responsible business practices. However, the study was limited to companies listed on the B3, and it is recommended that future research include organizations from other sectors and regions to broaden the understanding of the impact of female leadership on corporate sustainability.

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Published: Dec 22, 2025
Vol/Issue: 131(1)
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Authors

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Albert Schiaveto de Souza