Climate reporting quality following the recommendations of the task force on climate-related financial disclosures: A Focus on the German capital market: A Focus on the German Capital Market

Publikation: Beiträge in ZeitschriftenZeitschriftenaufsätzeForschungbegutachtet


This paper investigates the quality of climate reporting by German DAX30 companies based on legitimacy theory. The study refers to a content analysis of climate-related corporate disclosures from 2018-2020, related to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The results show that there is still considerable room for improvement among carbon-sensitive as well as less carbon-sensitive firms. In particular, the companies showed poor reporting rates in the corporate governance domain, indicating that they use climate reporting symbolically to present themselves in a favorable light and to gain legitimacy in society. Moreover, carbon-sensitive companies were more likely to report strategically relevant information on climate issues. The results are most relevant for researchers, business practice and regulatory bodies.
ZeitschriftSustainable Development
Seiten (von - bis)926-940
Anzahl der Seiten15
PublikationsstatusErschienen - 04.2023

Bibliographische Notiz

Funding Information:
Open Access funding enabled and organized by Projekt DEAL.

Publisher Copyright:
© 2022 The Authors. Sustainable Development published by ERP Environment and John Wiley & Sons Ltd.