Climate Change-Related Disclosure Normalization: Does One Size Fit All?

Sondes Mbarek and Phu Dao-Le Flecher

Chapter 2 in Climate Finance & Accountability:A Comprehensive and Holistic Approach, 2026, pp 45-71 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Climate change poses significant risks to businesses and financial markets, with increasing concerns over greenhouse gas (GHG) emissions, extreme weather events, and rising sea levels. These risks affect not only operational processes but also financial stability, as long-term investors seek to evaluate how companies are preparing for a low-carbon future. Climate-related disclosures are becoming increasingly critical for investors, policymakers, and stakeholders to assess the impact of climate change on financial performance and corporate strategies. While there is rising pressure on organizations to provide transparent, consistent, and comparable environmental information, current reporting practices vary widely, making it difficult to compare companies. Based on a comprehensive literature review and critical analysis of climaterelated disclosure initiatives, this chapter explores the need for a common mandatory climate change reporting standard. It outlines potential pathways to ensure corporate responsibility in climate-related disclosures and the integration of these disclosures into overall corporate governance and risk management strategies.

Keywords: Climate Finance; Environmental; Social; and Governance (ESG); Climate-Related Financial Disclosures; TCFD (Task Force on Climate-Related Financial Disclosures); Corporate Sustainability; Financial Risk Management; Sustainable Investing; Climate Risk Reporting; Corporate Environmental Accountability; Regulatory Frameworks; Capital Markets and Climate Risk; Carbon Transition Risk; Physical Climate Risk; Financial Disclosure Regulation; Responsible Investment (search for similar items in EconPapers)
JEL-codes: G32 M14 Q54 Q56 (search for similar items in EconPapers)
Date: 2026
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