Disclosure of climate risk information by the worlds largest companies
Autor(a) principal: | |
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Data de Publicação: | 2018 |
Outros Autores: | , , , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Institucional da UFBA |
Texto Completo: | http://repositorio.ufba.br/ri/handle/ri/27192 |
Resumo: | The risks related to global climate change are seen as threats to companies, taking into consideration their impact on the return on investment. In order to mitigate climate risk and introduce new opportunities to financiers, companies need to identify, manage, and report climate risks. The purpose of this paper is to investigate the climate risks disclosed by the 100 largest companies in the world, according to the Bloomberg and Price Waterhouse Coopers (PwC 2015) classification, and identify some characteristics of these companies that explain the disclosure level of such information. Preliminary results revealed that of the companies investigated, 14% did not disclose any climate risk information in the Carbon Disclosure Program (CDP) report. Also, from the companies that disclosed information according to the Global Reporting Initiative (GRI), 9.9% did not provide information regarding policies, actions, and strategies for mitigating the risks related to climate change. The results shown by the content analysis suggested that, in general, there is still a low level of disclosure about climate risks by these companies. The final results through econometric instruments and statistical tests indicate that the size of the company or the fact that corporations are from developed countries do not necessarily explain the level of information disclosed. However, the activity sector, the continent, and the efficiency of the Board of Directors are factors that strongly explain the level of climate risk disclosure. We conclude that more effort is needed to encouragean engaging attitude fromcorporations to developactions,policies,andstrategiesto mitigate climate change risks and threats. In addition, the world’s largest companies should make a greater investment in climate risk disclosure. |
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Kouloukoui, DanielGomes, Sônia Maria da SilvaMarinho, Márcia Mara de OliveiraTorres, Ednildo AndradeKiperstok, AsherJong, Pieter de2018-08-31T20:24:07Z2018-08-31T20:24:07Z2018-02-10http://repositorio.ufba.br/ri/handle/ri/27192The risks related to global climate change are seen as threats to companies, taking into consideration their impact on the return on investment. In order to mitigate climate risk and introduce new opportunities to financiers, companies need to identify, manage, and report climate risks. The purpose of this paper is to investigate the climate risks disclosed by the 100 largest companies in the world, according to the Bloomberg and Price Waterhouse Coopers (PwC 2015) classification, and identify some characteristics of these companies that explain the disclosure level of such information. Preliminary results revealed that of the companies investigated, 14% did not disclose any climate risk information in the Carbon Disclosure Program (CDP) report. Also, from the companies that disclosed information according to the Global Reporting Initiative (GRI), 9.9% did not provide information regarding policies, actions, and strategies for mitigating the risks related to climate change. The results shown by the content analysis suggested that, in general, there is still a low level of disclosure about climate risks by these companies. The final results through econometric instruments and statistical tests indicate that the size of the company or the fact that corporations are from developed countries do not necessarily explain the level of information disclosed. However, the activity sector, the continent, and the efficiency of the Board of Directors are factors that strongly explain the level of climate risk disclosure. We conclude that more effort is needed to encouragean engaging attitude fromcorporations to developactions,policies,andstrategiesto mitigate climate change risks and threats. 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dc.title.pt_BR.fl_str_mv |
Disclosure of climate risk information by the worlds largest companies |
title |
Disclosure of climate risk information by the worlds largest companies |
spellingShingle |
Disclosure of climate risk information by the worlds largest companies Kouloukoui, Daniel Climate risk disclosure Global Top 100 Climate changes Theory of legitimacy Strategies for climate change Adaptation and mitigation |
title_short |
Disclosure of climate risk information by the worlds largest companies |
title_full |
Disclosure of climate risk information by the worlds largest companies |
title_fullStr |
Disclosure of climate risk information by the worlds largest companies |
title_full_unstemmed |
Disclosure of climate risk information by the worlds largest companies |
title_sort |
Disclosure of climate risk information by the worlds largest companies |
author |
Kouloukoui, Daniel |
author_facet |
Kouloukoui, Daniel Gomes, Sônia Maria da Silva Marinho, Márcia Mara de Oliveira Torres, Ednildo Andrade Kiperstok, Asher Jong, Pieter de |
author_role |
author |
author2 |
Gomes, Sônia Maria da Silva Marinho, Márcia Mara de Oliveira Torres, Ednildo Andrade Kiperstok, Asher Jong, Pieter de |
author2_role |
author author author author author |
dc.contributor.author.fl_str_mv |
Kouloukoui, Daniel Gomes, Sônia Maria da Silva Marinho, Márcia Mara de Oliveira Torres, Ednildo Andrade Kiperstok, Asher Jong, Pieter de |
dc.subject.por.fl_str_mv |
Climate risk disclosure Global Top 100 Climate changes Theory of legitimacy Strategies for climate change Adaptation and mitigation |
topic |
Climate risk disclosure Global Top 100 Climate changes Theory of legitimacy Strategies for climate change Adaptation and mitigation |
description |
The risks related to global climate change are seen as threats to companies, taking into consideration their impact on the return on investment. In order to mitigate climate risk and introduce new opportunities to financiers, companies need to identify, manage, and report climate risks. The purpose of this paper is to investigate the climate risks disclosed by the 100 largest companies in the world, according to the Bloomberg and Price Waterhouse Coopers (PwC 2015) classification, and identify some characteristics of these companies that explain the disclosure level of such information. Preliminary results revealed that of the companies investigated, 14% did not disclose any climate risk information in the Carbon Disclosure Program (CDP) report. Also, from the companies that disclosed information according to the Global Reporting Initiative (GRI), 9.9% did not provide information regarding policies, actions, and strategies for mitigating the risks related to climate change. The results shown by the content analysis suggested that, in general, there is still a low level of disclosure about climate risks by these companies. The final results through econometric instruments and statistical tests indicate that the size of the company or the fact that corporations are from developed countries do not necessarily explain the level of information disclosed. However, the activity sector, the continent, and the efficiency of the Board of Directors are factors that strongly explain the level of climate risk disclosure. We conclude that more effort is needed to encouragean engaging attitude fromcorporations to developactions,policies,andstrategiesto mitigate climate change risks and threats. In addition, the world’s largest companies should make a greater investment in climate risk disclosure. |
publishDate |
2018 |
dc.date.accessioned.fl_str_mv |
2018-08-31T20:24:07Z |
dc.date.available.fl_str_mv |
2018-08-31T20:24:07Z |
dc.date.issued.fl_str_mv |
2018-02-10 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://repositorio.ufba.br/ri/handle/ri/27192 |
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http://repositorio.ufba.br/ri/handle/ri/27192 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
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openAccess |
dc.publisher.none.fl_str_mv |
CrossMark |
publisher.none.fl_str_mv |
CrossMark |
dc.source.pt_BR.fl_str_mv |
https://doi.org/10.1007/s11027-018-9783-2 |
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reponame:Repositório Institucional da UFBA instname:Universidade Federal da Bahia (UFBA) instacron:UFBA |
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