A Critical Review of the Climate-Related Reporting Requirements in the Financial Service Sector

Spasić, Dejan; Denčić-Mihajlov, Ksenija; Poposki, Klime

doi:10.46541/978-86-7233-397-8_144

Cited by 2 publications

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“…This doubts the ability of green finance to reorient the financial sector sustainably and effectively toward models that are more protective of the environment (Bai, 2011). Indeed, for the largest banks, the abandonment of investments in fossil fuels is likely to trigger a financial crisis within these banking establishments (Spasi c et al, 2021). With the Paris Agreement since 2015, there have been new commitments from banks or insurers to finance and fight against climate change.…”

Section: Green Financementioning

confidence: 99%

Green finance: between commitment and illusion

Chenguel

Mansour

2023

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Purpose After almost 10 years, people wonder if green finance has been able to attain its objectives in terms of controlling climate change. Persistent global warming and climate deregulation manifested by melting glaciers, droughts and floods, are all of these determinants that have called into question the efficiency of green finance. Design/methodology/approach Green finance is a way to support climate action through investments. It has proven that this is a viable financial instrument and that it can be used by governments and private companies to plan for the future of our planet. Findings Based on an analysis of articles published in top international journals from 2016 to 2022, about the relationship between green technology and financial services in China, this paper aims to present an overview of green finance, its importance for the planet, its objectives and its instruments. Research limitations/implications This study’s contribution is to shed light on the aspects that may have limited its effectiveness, such as the absence of incentives, the absence of climate costs and above all the absence of finance green standards. Originality/value The results have shown that there is still a significant gap in green finance before inclusive green growth can be achieved. Inclusive green growth. All stakeholders need to increase the level of investment in green finance. The green investment financing gap is the result of inconsistencies in sustainability and policies. Therefore, governments must intervene to impose appropriate policies and regulations to compel the financial sector to engage in sustainable development. All of these factors make the concept of green finance just an illusion.

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Section: Green Financementioning

confidence: 99%

Green finance: between commitment and illusion

Chenguel

Mansour

2023

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Changes in the climate-related disclosure of German listed companies during the first years of the new reporting standard

Leicht

Leicht²

2022

Futur Bus J

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The relevance of climate or environment-related reporting has been increasing over the years. Since 2017, the Non-Financial Statement (NFS) has been part of the German reporting of listed companies. In this context, this academic paper examines the development of climate-related disclosure within the NFS. The research design involves a developed disclosure index concerning climate-related reporting within the NFS and a t-Test with dependent variables. The descriptive content analysis is the basis of the study to obtain the input data for the t-Test. The study is based on the NFS of the German Share Index, Mid-Cap-DAX, and Small-Cap-DAX companies. The financial years of the companies are the basis of the observation period 2018–2020. Companies whose financial year differs from the calendar year are also part of the sample. The analysis results show an improvement in climate-related reporting in the NFS across the three periods under review. The length of the NFS increased over the three observation periods. It is possible to deduce that the amount of climate-related topics disclosed in the NFS also increased. Furthermore, the number of disclosed environmental goals increased in the observation periods. This also indicates that companies put climate-related topics more on their reporting over the observation period. It is possible to conclude that the relevance of climate-related reporting has increased over the last three years and may increase in the future.

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A Critical Review of the Climate-Related Reporting Requirements in the Financial Service Sector

Cited by 2 publications

References 0 publications

Green finance: between commitment and illusion

Green finance: between commitment and illusion

Changes in the climate-related disclosure of German listed companies during the first years of the new reporting standard

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