Disclosure of climate risk information by the worlds largest companies

Detalhes bibliográficos
Autor(a) principal: Kouloukoui, Daniel
Data de Publicação: 2018
Outros Autores: Gomes, Sônia Maria da Silva, Marinho, Márcia Mara de Oliveira, Torres, Ednildo Andrade, Kiperstok, Asher, Jong, Pieter de
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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spelling 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. In addition, the world’s largest companies should make a greater investment in climate risk disclosure.Submitted by Núcleo de Pós-Graduação Administração (npgadm@ufba.br) on 2018-08-31T18:43:18Z No. of bitstreams: 1 Disclosure of climate risk information by the worlds largest companies.pdf: 847461 bytes, checksum: 0afb094448b7da3d05054155a730fc21 (MD5)Approved for entry into archive by Maria Angela Dortas (dortas@ufba.br) on 2018-08-31T20:24:07Z (GMT) No. of bitstreams: 1 Disclosure of climate risk information by the worlds largest companies.pdf: 847461 bytes, checksum: 0afb094448b7da3d05054155a730fc21 (MD5)Made available in DSpace on 2018-08-31T20:24:07Z (GMT). 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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
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