Abstract

This study explores the relationship between firm-level carbon productivity (CRP), home country environmental performance (HCEP), and firm performance—both financial and international—in the global meat exporting industry. While prior research has examined these dynamics in manufacturing sectors, limited attention has been paid to the meat industry, which is both economically significant and environmentally intensive. Using a multiple case study approach, we analyze data from three leading meat-exporting firms—Agrosuper (Chile), BRF (Brazil), and Danish Crown (Denmark)—over the period 2020–2023. CRP is operationalized as the ratio of firm output to CO2 emissions, while HCEP is measured by national emissions per million USD of GDP. Financial performance is assessed via return on assets (ROA), and international performance through export intensity. Our findings reveal a nuanced relationship between CRP and firm performance. Contrary to theoretical expectations, a higher CRP does not consistently translate into improved financial performance, suggesting potential trade-offs between sustainability investments and profitability. However, a positive association is observed between CRP and international performance, particularly in firms operating within environmentally advanced countries. These results highlight the importance of home country environmental contexts in shaping firms’ global competitiveness. This research contributes to the literature by introducing CRP as a firm-level metric in the meat industry and by emphasizing the moderating role of HCEP. The findings offer practical implications for policymakers and managers seeking to align environmental responsibility with economic and international performance goals. © 2025 by the authors.