Corporate environmental disclosures about the effects of climate change

Elizabeth Stanny and Kirsten Ely

Corporate Social Responsibility and Environmental Management, 2008, vol. 15, issue 6, 338-348

Abstract: We examine factors associated with the US S&P 500 firms' decisions to disclose information about the current and projected effects of climate change to institutional investors. Through the Carbon Disclosure Project, 315 institutional investors representing 41 trillion USD in assets asked the largest public firms to respond to a questionnaire about climate change. We explore whether firms' disclosures directed specifically to institutional investors are related to factors that have been found to explain voluntary disclosures to investors in general. In particular, we consider factors related to the level of scrutiny, since extant literature predicts that the cost of not disclosing increases with level of scrutiny. We find that size, previous disclosures and foreign sales are related to whether firms disclose information about climate change requested by institutional investors through the Carbon Disclosure Project. Copyright © 2008 John Wiley & Sons, Ltd and ERP Environment.

Date: 2008
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Citations: View citations in EconPapers (146)

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Persistent link: https://EconPapers.repec.org/RePEc:wly:corsem:v:15:y:2008:i:6:p:338-348

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