Corporate Climate Reporting of European Banks: Are these institutions compliant with climate issues?
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In: Business Strategy and the Environment, Vol. 32, No. 6, 09.2023, p. 2817-2834.
Research output: Journal contributions › Journal articles › Research › peer-review
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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 -