Climate risk disclosure and climate risk management in UK asset managers

Greenwood, Noelle; Warren, Peter

doi:10.1108/ijccsm-09-2020-0104

Cited by 9 publications

(5 citation statements)

References 33 publications

(54 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The Content Analysis Technique (Sankaranarayanan and Ray, 2017;Inamdar and Rachchh, 2019;Bilbao-Terol et al, 2018) (Greenwood and Warren, 2022;Di Vaio et al, 2020) is used to know the percentages of similarities between the two frameworks. A self-constructed scoring sheet was developed.…”

Section: Ijqrm 417mentioning

confidence: 99%

A comparative study on sustainability standards with specific reference to GRI standards and BRSR framework

Nial,

Parashar

2024

IJQRM

View full text Add to dashboard Cite

PurposeThe main objective of the study was to compare Business Responsibility and Sustainability Report (BRSR) norms with Global Reporting Initiative (GRI) standards, so as to establish whether BRSR norms match the global standards and best practices or not. Additionally, an effort was made to ascertain and highlight areas where BRSR norms are more comprehensive, just match, or require further refinement to be at par with the GRI standards. The study highlights the similarities and dissimilarities between the internationally accepted GRI standards and the BRSR framework; thereby suggesting areas of improvement for the BRSR framework.Design/methodology/approachScrutinised all the 36 standards of the Global reporting initiative and BRSR format and guidelines of the Securities Exchange Board of India. The Content Analysis Technique was used to ascertain the percentages of similarities between the two frameworks.FindingsThe content analysis found that there are 52.30% similarities between BRSR norms and GRI standards. Further, this study shows the factors that led to the dissimilarities between BRSR and GRI standards. This study found 18 areas where BRSR is more informative than GRI, and 7 areas where BRSR could be further refined.Originality/valueThis study contributes to research in the sustainability reporting framework to be adopted by Indian listed companies. There are a few Indian listed companies who are already reporting as per the GRI framework and might perceive the BRSR as a separate reporting altogether. But as found in this study, more than half of the BRSR framework is similar to the GRI framework; thus, half the work is almost done. As such this study helps Indian firms in developing an understanding of the BRSR and puts in perspective its standing among global sustainability reporting standards. This study shall help institutional investors, rating agencies, and external assurers to better visualize an Indian entity, by referring to its Business Responsibility and Sustainability Reporting.

show abstract

Section: Ijqrm 417mentioning

confidence: 99%

A comparative study on sustainability standards with specific reference to GRI standards and BRSR framework

Nial,

Parashar

2024

IJQRM

View full text Add to dashboard Cite

show abstract

“…In this study, we theorise that, according to pragmatic legitimacy, firms are incentivised to act in the interest of their financial stakeholders. With climate issues being recognised as material (Greenwood and Warren, 2022) and directly impacting financial stakeholder interests, these matters should be reflected in financial statements (Li et al , 2019). Further, it is increasingly evident that climate change is a material concern (Anderson, 2019).…”

Section: Literature Review Theoretical Perspectives and Climate-relat...mentioning

confidence: 99%

The disclosure of climate-related risks and opportunities in financial statements: the UK’s FTSE 100

Borghei,

Linnenluecke,

Bui

2023

MEDAR

View full text Add to dashboard Cite

Purpose This paper aims to explore current trends in how companies disclose climate-related risks and opportunities in their financial statements. As part of the authors’ analysis, they examine: whether forward-looking assumptions and judgements are typically considered in reporting climate-related risks/opportunities; whether there are differences in the reporting practices of firms in carbon-intensive industries versus non-carbon-intensive industries; and whether negative media reports have an influence on the levels of disclosure a firm makes. Design/methodology/approach The authors chose content analysis as their methodology and examined the financial statements published by firms listed on the UK’s FTSE 100 between 2016 and 2020. This analysis is framed by Suchman’s three dimensions of legitimacy, being pragmatic, cognitive and moral. Findings Climate-related disclosures in the notes and financial accounts of these firms did increase over the period. Yet, overall, the level the disclosures was inadequate and the quality was inconsistent. From this, the authors conclude that pragmatic legitimacy is not a particularly strong driving factor in compelling organisations to disclose climate-related information. The firms in carbon-intensive industries do provide greater levels of disclosure, including both qualitative and quantitative (monetary) content, which is consistent with cognitive legitimacy. However, from a moral legitimacy perspective, this study finds that firms did not adapt responsively to negative media coverage as a way of reflecting their accountability to broader public norms and values. Overall, this analysis suggests that regulatory enforcement and a systematic reporting framework with adequate guidance is going to be critical to developing transparent climate-related reporting in future. Originality/value This paper contributes to existing studies on climate-related disclosures, which have mainly examined the ‘front-half’ of annual reports. Conversely, this study aims to shed light on these practices in the “back-half” of these reports, exploring the underlying reasons for reporting climate-related risks and opportunities in financial accounts. The authors’ insights into the current disclosure practices make a theoretical contribution to the literature. Practitioners can also draw on these insights to improve how they report on climate-related risks and opportunities in their financial statements.

show abstract

“…Therefore, the extent to which the South African mining sector complies with the JSE sustainability still needs to be fully understood. Greenwood and Warren (2022) assert that the research focus should be directed explicitly at climate risk rather than a high-level ESG assessment. This study, therefore, contributes to the body of knowledge by developing a climate risk disclosure checklist based on JSE sustainability guidelines.…”

Section: The Relationship Between Climate Risk Disclosure and Perform...mentioning

confidence: 99%

The Relationship Between Climate Risk Disclosure and Performance on Mining Companies: Evidence From A Developing Economy

MATEMANE,

GRACA

2023

IJESSS

View full text Add to dashboard Cite

The main aim of this study is to develop an unweighted climate risk disclosure index to assess whether climate risk disclosure predicts mining companies’ performance.The catastrophic nature of climate risk has become more topical in recent years. Yet, academic research efforts have been directed to climate risk from the perspective of developed economies only and very little is understood about it in developing economies. 216 firm observations in mining sector for the period covering 2016 through 2021 were analysed using descriptive statistics and estimated generalised least square with period seemingly unrelated regression. The results suggest that the climate risk disclosure is significant in predicting company performance as proxied by earnings per share (EPS), economic value added (EVA) and return on equity (ROE). Policy makers and regulators should encourage companies to intensify climate risk disclosure so as to maximise value and benefit relevant stakeholders. The study contributes to the ongoing debates on climate risk by focusing on extractive industry, mining sector in a developed economy setting. Methodologically, the study developed an unweighted disclosure checklist that can guide companies on pertinent climate risk issues to disclose.

show abstract

Climate risk disclosure and climate risk management in UK asset managers

Cited by 9 publications

References 33 publications

A comparative study on sustainability standards with specific reference to GRI standards and BRSR framework

A comparative study on sustainability standards with specific reference to GRI standards and BRSR framework

The disclosure of climate-related risks and opportunities in financial statements: the UK’s FTSE 100

The Relationship Between Climate Risk Disclosure and Performance on Mining Companies: Evidence From A Developing Economy

Contact Info

Product

Resources

About