Standardized reporting of climate change information in Australia

Cotter, Julie; Najah, Muftah M.; Wang, Shihui Sophie

doi:10.1108/20408021111185420

Cited by 28 publications

(43 citation statements)

References 24 publications

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“…Pengungkapan emisi karbon merupakan salah satu contoh pengungkapan lingkungan mencakup intensitas gas rumah kaca dan strategi, risiko dan peluang terkait dampak perubahan iklim (Cotter et al, 2011). Luas pengungkapan emisi karbon diukur dengan menggunakan indeks yang dikembangkan Choi et al (2013) yang terkonstruksi dari request sheet Carbon Disclosure Project (CDP).…”

Section: Metode Penelitianunclassified

Mekanisme Pengungkapan Emisi Karbon Dan Reaksi Investor

Kelvin

Pasoloran

Randa

2019

Jurnal Ilmiah Akuntansi dan Bisnis

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This research aims to investigate the role of carbon emission disclosure as a mechanism to improve the investors' reaction in the form of abnormal stock returns mediated by cost of equity. The sample used in this study were non-financial companies listed on the Indonesia Stock Exchange from 2013 to 2017 and 122 firms were selected using purposive sampling method. By using path analysis method, the results shows, that the carbon emission disclosure has negative relationship to the cost of equity, carbon emission disclosure has positive relationship to the abnormal stock return and cost of equity has negative and significant relationship to the abnormal stock return. In addition, using Sobel test, the results shows that cost of equity plays a role in mediating carbon emission disclosure to the abnormal stock returns.

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Section: Metode Penelitianunclassified

Mekanisme Pengungkapan Emisi Karbon Dan Reaksi Investor

Kelvin

Pasoloran

Randa

2019

Jurnal Ilmiah Akuntansi dan Bisnis

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“…Together, these studies indicate that, although establishing an environmental management system does not entail a clear relation with corporate value, concrete environmental activities and disclosures can exert a positive effect on corporate value. In particular, while private climate change reporting is required for understanding corporate risk and risk management (Solomon et al, 2011), some studies conclude that environmental disclosure was inadequate for investment decisions (Solomon and Solomon, 2006) and that the amount of disclosure on climate change was often inadequate (Cotter et al, 2011).…”

Section: Relation Between Csp Disclosure and Cfpmentioning

confidence: 99%

Disclosure effects, carbon emissions and corporate value

Saka

Oshika

2014

Sustainability Accounting, Management and Policy Journal

169

137

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Purpose – The main purpose of this study is to examine the impact of corporate carbon emissions and disclosure on corporate value, especially regarding whether disclosure helps to reduce uncertainty in valuation as predicted by carbon emissions using a unique data set on Japanese companies. Design/methodology/approach – Empirical analysis of the relations between corporate carbon emissions using compulsory filing data to Japanese Government covering more than 1,000 firms, corporate carbon management disclosure (CDP disclosure), and the market value of equity. Findings – The authors find that corporate carbon emissions have a negative relation with the market value of equity, the disclosure of carbon management has a positive relation with the market value of equity, and the positive relation between the disclosure of carbon management and the market value of equity is stronger with a larger volume of carbon emissions. Practical implications – The results may be important when considering the inclusion of carbon disclosure as a component of nonfinancial disclosure. In addition, the findings encourage Japanese companies to reduce carbon emissions and to disclose their carbon management activities. Originality/value – The authors provide the first empirical evidence of an interactive effect between the volume of carbon emissions and carbon management disclosure on the market value of equity. And, the results concerning the relation between environmental performance, disclosure, and market value are readily generalizable, especially as all companies emit carbon, either directly or indirectly. In addition, the results are arguably free of problems with sampling bias and endogeneity as the authors employ data obtained from the compulsory filing of carbon emissions information.

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“…It has been proposed that stakeholder theory provides the foundation for understanding the CSR relationships of a business (Wood and Jones, 1995). From a stakeholder perspective, companies engage in CSR to satisfy the demands of various stakeholders (Cotter et al, 2011;Varenova et al, 2013), which will lead to improved financial performance (Endrikat et al, 2014). As long as the stakeholders are legitimate, they are powerful enough that the organisation must attend to their demands, and the issue is more urgent than other issues, then the company will engage in CSR to satisfy the stakeholders (Mitchell et al, 1997).…”

Section: Literature Reviewmentioning

confidence: 99%

Member perceptions of ESG investing through superannuation

Zwaan

Brimble

Stewart

2015

Sustainability Accounting, Management and Policy Journal

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Purpose – Environmental, social and governance (ESG) risks have the potential to negatively impact financial returns, yet few superannuation funds integrate these considerations into their investment selection. The Cooper Review (2010) identified a lack of member demand as a key impediment to ESG investing by superannuation funds. Given this problem, the aim of this study is to explore superannuation fund members’ perceptions of ESG investing by their funds in order to identify reasons for the lack of demand. Design/methodology/approach – An on-line survey was developed and distributed to assess possible reasons why members do not select ESG investment options. In total, 549 Australian superannuation fund members responded to the survey. Findings – Results indicate that the majority of superannuation fund members are interested in ESG investing. Members lack awareness of their fund’s approach to ESG investing, and they do not perceive there to be a financial penalty from ESG investing. Finally, members show a preference for consideration of governance issues over both social and environmental issues. Research limitations/implications – Respondents are well educated and the majority did not choose their superannuation fund. There was no measure of financial literacy included in the research instrument. There is also a general limitation in surveying superannuation fund members when they lack knowledge about superannuation. Practical implications – The results indicate that superannuation members are interested in both superannuation and ESG investing. Given the low take-up of ESG investment options, this finding raises the question of how effectively funds are engaging their members. Social implications – The results should be of interest to superannuation funds and may lead to renewed interest in promoting ESG products. Originality/value – This is the first study to examine superannuation members’ attitudes and behaviours towards ESG investing in the context of superannuation. The study also adds to our understanding of member decision-making in the $1.8 trillion superannuation industry.

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Standardized reporting of climate change information in Australia

Cited by 28 publications

References 24 publications

Mekanisme Pengungkapan Emisi Karbon Dan Reaksi Investor

Mekanisme Pengungkapan Emisi Karbon Dan Reaksi Investor

Disclosure effects, carbon emissions and corporate value

Member perceptions of ESG investing through superannuation

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