TY - JOUR

T1 - Corporate Climate Reporting of European Banks: Are these institutions compliant with climate issues?

AU - Friedrich, Tim

AU - Velte, Patrick

AU - Wulf, Inge

N1 - Funding Information: Open Access funding enabled and organized by Projekt DEAL. Publisher Copyright: © 2022 The Authors. Business Strategy and The Environment published by ERP Environment and John Wiley & Sons Ltd.

PY - 2023/9

Y1 - 2023/9

N2 - This article focuses on climate disclosures from STOXX Europe 600 banks during the 2017– 2020 period, comprising 152 company years. Specifically, we analyze compliance based on general and bank-specific recommendations of the Task Force on Climate-related Financial Disclosures. Although our results indicate an overall increase in climate reporting quality over time, we identify major reporting gaps, such as consideration of forward-looking information (particularly related to scenario analyses). We also stress that the bank-specific recommendations are taken into account rather insufficiently. This study stands to benefit mostly researchers, business practices, and regulatory bodies owing to the future standardization of European and global sustainability reporting frameworks.

AB - This article focuses on climate disclosures from STOXX Europe 600 banks during the 2017– 2020 period, comprising 152 company years. Specifically, we analyze compliance based on general and bank-specific recommendations of the Task Force on Climate-related Financial Disclosures. Although our results indicate an overall increase in climate reporting quality over time, we identify major reporting gaps, such as consideration of forward-looking information (particularly related to scenario analyses). We also stress that the bank-specific recommendations are taken into account rather insufficiently. This study stands to benefit mostly researchers, business practices, and regulatory bodies owing to the future standardization of European and global sustainability reporting frameworks.

KW - Management studies

KW - Climate change

KW - climate report

KW - climate-related risk

KW - environmental policy

KW - risk management

KW - sustainability reporting

KW - Sustainability sciences, Management & Economics

UR - http://www.scopus.com/inward/record.url?scp=85139416933&partnerID=8YFLogxK

UR - https://www.mendeley.com/catalogue/b45ab565-ad13-3845-b14e-380a610b1494/

U2 - 10.1002/bse.3272

DO - 10.1002/bse.3272

M3 - Journal articles

VL - 32

SP - 2817

EP - 2834

JO - Business Strategy and the Environment

JF - Business Strategy and the Environment

SN - 0964-4733

IS - 6

ER -