“…This, in turn, has helped investors and capital markets around the globe to take increased action to support the mitigation of and adaptations to climate change risk through providing climate-related information disclosed in financial statements, thereby improving market resilience and achieving sustainable development with a minimized amount of carbon emissions. Towards such efforts, recent studies have documented climate reporting activities and issues in specific countries such as the United States (Bohr, 2020), the United Kingdom (Ruiu, 2021;Tang & Demeritt, 2018;Taylor & Nathan, 2002), Papua New Guinea (Pascoe et al, 2019), Australia (Debrett, 2011;Foxwell-Norton, 2017;Shea et al, 2020), Sweden (Berglez & Lidskog, 2019;Kleinschmit & Sjöstedt, 2014), Germany (Kaiser & Rhomberg, 2016), Greece (Tsalis & Nikolaou, 2017), China (Yang & Farley, 2016) and other emerging countries (Jeswani et al, 2008;Solomon et al, 2011). These studies indicate the importance and necessity of enhanced climate change risk reporting in mainstream financial statements and these studies ask for greater involvement of international accounting standard setting bodies (Deloitte, 2021;International Federation of Accountants [IFAC], 2021; PricewaterhouseCoopers [PWC], 2021).…”