Carbon Emissions and TCFD Aligned Climate-Related Information Disclosures

Dong Ding, Bin Liu and Millicent Chang ()
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Dong Ding: University of Wollongong
Bin Liu: University of Wollongong
Millicent Chang: University of Wollongong

Journal of Business Ethics, 2023, vol. 182, issue 4, No 4, 967-1001

Abstract: Abstract We explore corporate environmental accountability by examining how carbon emissions affect voluntary climate-related information disclosure based on TCFD principles. Using computerized textual analysis to measure such climate-related disclosure, our results show that firms with higher levels of carbon emissions disclose more climate-related information. This relation is stronger in firms belonging to carbon-intensive industries, such as energy, materials, and utilities. We also examine this relationship at the category level for Governance, Strategy, Risk Management, and Metrics and Targets, finding that carbon emissions drive disclosure in all categories except in Governance. Overall, our findings indicate that high carbon emitting firms appear to discharge their corporate accountability by increasing climate-related disclosure, consistent with legitimizing their potentially unethical actions and submitting to stakeholder and societal pressure.

Keywords: Climate change; Voluntary climate-related information disclosure; Carbon emissions; Carbon performance; Environmental disclosure; Environmental performance; Information asymmetry (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (15)

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DOI: 10.1007/s10551-022-05292-x

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