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
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Authors
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 to 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.
based on legitimacy theory. The study refers to a content analysis of climate-related corporate disclosures from 2018 to 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.
Original language | English |
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Journal | Sustainable Development |
Volume | 31 |
Issue number | 2 |
Pages (from-to) | 926-940 |
Number of pages | 15 |
ISSN | 0968-0802 |
DOIs | |
Publication status | Published - 04.2023 |
Bibliographical note
Publisher Copyright:
© 2022 The Authors. Sustainable Development published by ERP Environment and John Wiley & Sons Ltd.
- SDG 8 - Decent Work and Economic Growth
- SDG 9 - Industry, Innovation, and Infrastructure
- SDG 12 - Responsible Consumption and Production
- SDG 13 - Climate Action
- SDG 7 - Affordable and Clean Energy
Sustainable Development Goals
- Development
- Renewable Energy, Sustainability and the Environment
ASJC Scopus Subject Areas
- Management studies
- Sustainability Science