Climate change (CC) is undoubtedly an increasing issue on the agenda of politicians, scientists, mass-media, and academics. The Financial Stability Board (FSB) set up a Task Force on Climate-related Financial Disclosures (TCFD) to establish a set of recommendations for consistent and material “disclosures that will help financial market participants understand their climate risks”. Companies have to adopt serious actions to measure and manage this potential risk that may deeply affect their businesses. This paper aims at investigating, through the lens of the legitimacy theory, how and to what extent the biggest Italian nonfinancial companies of the FTSE-MIB disclose on Climate change risk, what is the level of depth of their disclosure and their level of preparation and adherence to the TCFD guidelines.

The Relevance of Climate Change Related Risks on Corporate Financial and Non-Financial Disclosure in Italian Listed Companies

De Bernardi, Paola;Venuti, Francesco;Bertello, Alberto
2019

Abstract

Climate change (CC) is undoubtedly an increasing issue on the agenda of politicians, scientists, mass-media, and academics. The Financial Stability Board (FSB) set up a Task Force on Climate-related Financial Disclosures (TCFD) to establish a set of recommendations for consistent and material “disclosures that will help financial market participants understand their climate risks”. Companies have to adopt serious actions to measure and manage this potential risk that may deeply affect their businesses. This paper aims at investigating, through the lens of the legitimacy theory, how and to what extent the biggest Italian nonfinancial companies of the FTSE-MIB disclose on Climate change risk, what is the level of depth of their disclosure and their level of preparation and adherence to the TCFD guidelines.
The Future of Risk Management, Volume I
Palgrave Macmillan
77
107
978-3-030-14547-7
978-3-030-14548-4
Climate change, Climate-related risk, Risk management, Task force on climate-related financial disclosures (TFCFD), Sustainability disclosure
De Bernardi, Paola; Venuti, Francesco; Bertello, Alberto
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/2318/1716082
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