National and supranational institutions are establishing emission trading systems and control schemes in an attempt to manage stakeholders' willingness to engage with regulatory systems and reduce greenhouse gas emissions (GHG). Nonetheless, despite the national and supranational focus on carbon neutrality, little research has been centered around the interrelationships impacting organizations' scope 2 and 3 GHG emissions. Specifically, scholars underscore the need to test the link between scope 2 and 3 emissions and organizations' financial performance, market value, and governance bodies. Henceforth, this article seeks to examine the interrelationships between organizations' financial performance, market value, board sustainability, and their scope 2 and 3 GHG emissions. This manuscript is informed by a multidimensional socio-economic-based theoretical framework. This research uses a panel dataset composed of 437 publicly listed companies whose headquarters are located in Europe. The sample focuses on European companies given its agenda to become carbon neutral by 2050. The obtained findings suggest a positive association between organizations' supply chain emissions and their market value. Moreover, it is possible to observe a positive association between organizations' supply chain GHG and their financial performance. Finally, the authors observe a positive association between organizations' board sustainability and their supply chain GHG emissions and market value. The foregoing findings are robust and do not present concerning issues related to endogeneity and sample selection bias. This manuscript carries both theoretical and managerial implications. First, it underscores the legitimization route that firms may undertake through climate change initiatives to enhance their market value. Second, the results might suggest the symbolic impact European emission trading systems and control schemes might have on stakeholders and firms. Third, the obtained results underscore the importance of the link between governance and environmental sustainability by extending this link between scope 2 and 3 emissions and sustainability board committees. Moreover, this manuscript underscores the importance of stakeholders' interest in environmental sustainability proxies such as GHG emissions. Finally, the manuscript underscores the complexity that remains in managing entities' supply chain GHG emissions.