The extant carbon neutrality (CN) literature largely offers macro- or meso-level analyses, providing limited insights into implementation experiences that could inform granular policymaking and industry strategies. To address this gap, we examine the lived CN experiences of firms in the transportation, energy, manufacturing, and construction sectors. Using multi-wave qualitative data analyzed through Gioia's approach, we identify policy, strategic practices, carbon-offsetting technologies, and emission-reduction approaches as key drivers of CN implementation. Notably, we establish the microfoundations of CN implementation by uncovering the nuanced roles of strategic, managerial, and operational levels as bridging mechanisms that translate policy mandates into firm-level decisions. Furthermore, we extend the theoretical understanding of the dual role of policy at the firm level, acting both as an enabling driver and a constraining factor. Finally, we propose the STEP framework, which conceptualizes CN implementation as a dynamic ecosystem of interacting forces operating within a feedback loop for continuous improvement and recalibration.

Given the significant surge in greenhouse gas emissions over the past several decades, the demand for low-carbon energy products has increased globally. However, geopolitical risks and tensions have also been escalating, which can reshape the trade of low-carbon energy products. Despite growing work on geopolitical risk and energy transition, no study has yet examined how geopolitical tensions reshape countries' revealed comparative advantage in low-carbon energy trade. This study therefore aims to fill this research gap by providing an understanding of how geopolitical risk affects comparative advantage in low-carbon energy trade across 27 countries worldwide. Taking the data period from 2000 to 2021, the study implements several panel regression models to account for endogeneity as well as cross-country heterogeneity. The results reveal that geopolitical risk undermines a country's comparative advantage in international trade of low-carbon energy products, regardless of the model specification. Domestically adopted low-carbon energy innovation suggests a positive outcome for enhancing comparative advantage in this category, while low-carbon energy policy has no significant impact. These results imply that governments and firms aiming to build durable comparative advantage in low-carbon energy trade should complement innovation-support policies with strategies that reduce exposure to geopolitical disruptions in green value chains.