Corporate environmental reporting: Are French firms compliant with the Task Force on Climate Financial Disclosures' recommendations?

Demaria, Samira; Rigot, Sandra

doi:10.1002/bse.2651

Cited by 49 publications

(100 citation statements)

References 40 publications

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“…This means that Portuguese banks have enhanced the disclosure of information on climate-related issues. This evolution agrees with Demaria and Rigot's study [35], where it was stated that more companies are disclosing information about climate risk. In turn, Manes-Rossi et al [36] stated that companies (including banks) demonstrated a collective awareness about the need to provide a comprehensive volume of socio-environmental disclosure to maintain legitimacy.…”

Section: Evolution Of Climate-related Informationsupporting

confidence: 91%

“…There is no specific place to disclose the "non-financial statement" and the climate-related information. The main limitation is that environmental and climate-related information is spread over several sections of the report [35]. There is a need for a more harmonized presentation to improve environmental disclosures such as gathering all required climate-related information in a single section [35].…”

Section: Discussionmentioning

confidence: 99%

“…The main limitation is that environmental and climate-related information is spread over several sections of the report [35]. There is a need for a more harmonized presentation to improve environmental disclosures such as gathering all required climate-related information in a single section [35]. The climate-related information appears mainly in the non-financial statement.…”

Section: Discussionmentioning

confidence: 99%

“…Auditors only verify whether the non-financial statement is published or not [14]. The rhetoric of companies may not be following their behavior, reflecting a gap between words and deeds [35].…”

Section: Evolution Of Climate-related Informationmentioning

confidence: 99%

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Banks and Climate-Related Information: The Case of Portugal

Santos

Rodrigues

2021

Sustainability

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In 2014, a European Union (EU) Directive required certain large undertakings and groups to disclose non-financial information from 2017 onwards. In 2017, the EU guidelines on non-financial reporting established that reporting climate-related information is part of the non-financial information. Later, in 2019, the guidelines were reinforced to include a supplement that envisages improving climate-related information reporting. Banks can contribute to reducing climate-related risks by supporting investments in economic activities that aim to mitigate the risk of climate change. Capital needs should be reoriented towards sustainable investment. Banks shall manage financial risks arising from climate change; therefore, they must integrate climate change into their policies and procedures, assessing the potential impact of projects and financing on climate change. This study aimed to evaluate how banks in Portugal have been reporting climate-related information and whether the level of information has increased since 2017. Using content analysis, findings indicated that banks are already including climate-related information; however, they are still far from approaching what the new guidelines require. Results suggested that there is still a long way to go in this area concerning banks and regulators.

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Section: Evolution Of Climate-related Informationsupporting

confidence: 91%

Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

Section: Evolution Of Climate-related Informationmentioning

confidence: 99%

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Banks and Climate-Related Information: The Case of Portugal

Santos

Rodrigues

2021

Sustainability

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“…As interest in greenhouse gas emissions continues to rise among customers, government agencies and other stakeholders, many leading companies are motivated to improve the capacity of understanding their carbon footprint across the value chain by engaging their suppliers, customers, and other partners to incorporate the reduction of GHG emissions into their own business system practices and seek feasible and effective methods to reduce emissions [5,7].…”

Section: Introductionmentioning

confidence: 99%

Carbon Management behind the Ambitious Pledge of Net Zero Carbon Emission—A Case Study of PepsiCo

2022

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Since the industrial revolution, greenhouse gas emissions caused by human activities have posed an unprecedented global challenge to social development and impact on the natural environment. With the growing awareness of environmental protection and the promotion of international cooperation mechanisms, there is a global consensus to control greenhouse gases. In order to avoid irreversible and catastrophic climate change, there is an urgent need for more companies to take action and make credible commitments to combat climate change and carbon reduction goals aligned with the Paris Agreement and the UN Sustainable Development Goals. As one of the largest and most influential international food and beverage companies with a range of well-known brands, PepsiCo has made ambitious commitments to science-based climate goals, including reducing GHG emissions from its direct operations by 75% against the 2015 baseline and reducing GHG emissions across its indirect value chain by 40% by 2030, as well as setting an ambitious new target to achieve net-zero emissions by 2040. PepsiCo has incorporated carbon reduction and climate strategies in all focus areas across its value chain, accelerating its work on broadening the scale of sustainable agriculture and regenerative farming practice; reducing plastic use and increasing the use of recycle and renewable materials as well as adopting low-carbon alternatives; developing efficient and alternative solutions in transportation and distribution; shifting to renewable electricity and fuels in manufacturing and fleet. Up to 2021, PepsiCo has achieved a 23% of the absolute emissions target of reducing Scope 1 and Scope 2 emissions and 7.9% of the absolute emissions target of reducing Scope 3 emissions. This research aims to evaluate the performance of PepsiCo on achieving their carbon reduction targets based on the analysis of the reported carbon estimates and reduction strategies, and also provides future strategic suggestions and guidance by adopting case study analysis. Although PepsiCo has reported great progress in reducing carbon emissions, further efforts are needed to achieve these goals.

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The climate resilience cycle: Using scenario analysis to inform climate‐resilient business strategies

2022

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Climate change affects the business environment, and companies need future‐oriented information to build climate resilience. To this end, companies are encouraged to conduct climate change scenario analysis, as recommended by the Task Force on Climate‐Related Financial Disclosures (TCFD). However, companies' actual adoption of this practice is limited as they lack a straightforward scenario analysis implementation process and relevant climate change knowledge. This research develops an implementation process by clarifying the concept of resilience into a stability and a change domain and by specifying the type of focal questions for these two domains. Next, a scenario typology guides the selection of reference scenarios, and two standard scenario methods guide the tailoring of these reference scenarios to company‐specific scenarios. By structuring this process in five steps and specifying input and process requirements, we provide an implementation process called the climate resilience cycle. By applying the cycle in transdisciplinary teams of climate change experts and company staff with knowledge about the company value chain, we bring in the required knowledge. To become climate resilient, the outcomes of the climate resilience cycle need to be integrated in the business planning and the overall company strategy. We argue that implementing the cycle as a new company routine contributes to the development of dynamic capabilities like sensing, seizing and transforming, which have been proven to be essential for integrating sustainability in company strategies. Once begun, we show how the cycle can become part of a company strategy process.

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Corporate environmental reporting: Are French firms compliant with the Task Force on Climate Financial Disclosures' recommendations?

Cited by 49 publications

References 40 publications

Banks and Climate-Related Information: The Case of Portugal

Banks and Climate-Related Information: The Case of Portugal

Carbon Management behind the Ambitious Pledge of Net Zero Carbon Emission—A Case Study of PepsiCo

The climate resilience cycle: Using scenario analysis to inform climate‐resilient business strategies

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