Skip to main content

Research Repository

Advanced Search

Climate risk disclosures and global sustainability initiatives: A conceptual analysis and agenda for future research

Ngo, T.; Le, T.; Ullah, S.; Trinh, H.H

Climate risk disclosures and global sustainability initiatives: A conceptual analysis and agenda for future research Thumbnail


Authors

T. Ngo

T. Le

Profile Image

SUBHAN ULLAH SUBHAN.ULLAH@NOTTINGHAM.AC.UK
Associate Professor in Accounting

H.H Trinh



Abstract

Climate change impacts, risks and sustainability disclosures have attracted increasing attention from scholars in various streams of the economics and finance literature towards achieving the UN's Sustainable Development Goals (SDGs). Within the stream of climate finance, the global initiatives for corporate social responsibility (CSR) and environment, social and governance (ESG) practices have had important roles in leveraging firms to become more actively involved in environment-related disclosure, in which climate risk reporting is central to evaluating whether and to what extent a firm and its operations are friendly to the environment. Along with the growth of the UN Principles for Responsible Investing in 2005, one of the most recent global initiatives that has been formed is the Taskforce on Climate-Related Financial Disclosures (TCFD), which has considered the climate-related financial disclosure recommendations of G20 finance ministers. Given that TCFD recommendations have recently been released for a broad domain of players (such as banks, investors, insurers and governments) in various countries (e.g., New Zealand, the United States and Japan), we surveyed the most recent studies on the TCFD by using a conceptual framework for climate-related disclosures focusing on studies published worldwide. On the basis of a thorough review, we highlight the essential functions of financial markets and also provide the critical implications for different market players ranging from providers to supporters of the TCFD. Our study offers a timely conceptual review of the TCFD which is critical for stimulating sustainable investments, climate finance and enhanced corporate reporting.

Citation

Ngo, T., Le, T., Ullah, S., & Trinh, H. (2023). Climate risk disclosures and global sustainability initiatives: A conceptual analysis and agenda for future research. Business Strategy and the Environment, 32(6), 3705-3720. https://doi.org/10.1002/bse.3323

Journal Article Type Article
Acceptance Date Nov 21, 2022
Online Publication Date Dec 28, 2022
Publication Date 2023-09
Deposit Date Feb 1, 2023
Publicly Available Date Feb 2, 2023
Journal Business Strategy and the Environment
Print ISSN 0964-4733
Peer Reviewed Peer Reviewed
Volume 32
Issue 6
Pages 3705-3720
DOI https://doi.org/10.1002/bse.3323
Keywords climate disclosure; climate risk; conceptual analysis; reporting; sustainability initiatives
Public URL https://nottingham-repository.worktribe.com/output/16795210
Publisher URL https://onlinelibrary.wiley.com/doi/full/10.1002/bse.3323

Files




You might also like



Downloadable Citations