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Understanding, mapping and reporting of climate-related risks among listed firms in Sweden

Andersson, Fredrik N. G. ; Arvidsson, Susanne

Climate policy, 2023-09, Vol.23 (8), p.945-958 [Revista revisada por pares]

London: Taylor & Francis

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Título:
Understanding, mapping and reporting of climate-related risks among listed firms in Sweden
Autor: Andersson, Fredrik N. G. ; Arvidsson, Susanne
Materias: Annual reports ; Business Administration ; Classification ; Climate ; climate change ; Climate policy ; climate risk management ; climate-related risks ; Communication ; Companies ; CSRD ; Disclosure ; Economics ; Economics and Business ; Ekonomi och näringsliv ; Environmental management ; Environmental risk ; EU Taxonomy ; Financial reporting ; Företagsekonomi ; Investments ; M40 ; Mapping ; Nationalekonomi ; NFRD ; non-financial reporting ; Policy making ; Polls & surveys ; Public finance ; Public policy ; Q54 ; Q56 ; Q58 ; Risk management ; Samhällsvetenskap ; Social Sciences ; Stock exchanges ; Surveys ; Sustainability ; Sustainability reporting ; Taxonomy ; TCFD ; Teams ; Top management ; Understanding
Es parte de: Climate policy, 2023-09, Vol.23 (8), p.945-958
Descripción: We study the mapping and reporting of climate-related risks among firms listed on the NasdaqOMX stock exchange in Stockholm in four goods-producing industries. Our study contains two parts: (i) a study of the firms' external communication through their annual reports, sustainability reports and webpages, and (ii) a follow-up survey of the top management team. The survey contains quantitative questions and free text answers, which provide additional insights into the mapping and risk-handling of climate-related risks among the firms. We find that firms are likely to engage in some form of mapping and reporting of climate-related risks, but there are variations among the firms. Furthermore, the management of climate-related risks appears to be a residual issue for most firms with little active engagement from the management team or board of directors. Key policy insights Public policies and private initiatives, such as the EU's Non-Financial Reporting Directive/Corporate Sustainability Reporting Directive (NFRD/CSRD), the EU Taxonomy for Sustainable Activities, and Task Force on Climate-related Financial Disclosure (TCFD), may redirect and accelerate investments promoting a low-carbon and climate-resilient economy. Although most firms map and report climate-related risks, the understanding of the nature of these risks, of underlying problems, and of what a climate transition implies, varies across firms and industries. The success of the EU's NFRD/CSRD, the EU Taxonomy for Sustainable Activities, and TCFD requires an improved understanding of climate-related risks among the firms and a more proactive engagement of the management team. Policymakers must provide firms with additional guidance aimed at improving their understanding of climate-related risks and thus their capacity to manage these risks. Firms need to, individually and jointly, revise their theoretical and empirical understandings of climate-risk management and especially the role climate-related risks play in the new policy setting. The TCFD has an important role to play, but as a voluntary initiative, it is insufficient to generate change among all firms.
Editor: London: Taylor & Francis
Idioma: Inglés

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Understanding, mapping and reporting of climate-related risks among listed firms in Sweden

Andersson, Fredrik N. G. ; Arvidsson, Susanne

London: Taylor & Francis

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