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The evidence for climate change and its far-reaching impacts and consequences is consistent, compelling and disturbing. Extensive research and empirical data support the view and concern of scientists who have been sounding the alarm for decades that climate change is accelerating to the point where it poses an existential threat to humans and other living things. Tackling climate change is a highest priority for the European Parliament and a key part of the European Union’s strategy. The aim of the United Nations Paris Agreement is to limit the global average temperature increase and to avoid a potential rise of 2 ℃ (preferably 1.5 ℃) above pre-industrial levels. The accelerating process of climate change justifies the growing societal need and investor demand for transparent, meaningful and comparable information on climate-related issues. Responding to this global imperative requires significant improvements in corporate policies and reporting and disclosure practices. The article identifies and discusses the main reasons for the observed lack of quality in climate-related reporting and disclosure practices worldwide, and justifies the global need for a highly responsible approach to the development, adoption and implementation of appropriate corporate policies to address and overcome the identified weaknesses and vulnerabilities. It is reasonable to expect that such a forward-looking approach would benefit not only the company by enhancing its goodwill and public trust, but investors, all other stakeholders and society as a whole. A key prerequisite for achieving this is greater alignment of the conceptual frameworks used around the world, as well as the mechanisms and means to influence reporting and disclosure policies and practices. It is not the author’s aim or intention to compare frameworks, as has been done in previous studies on the subject. Heuristic methods such as analysis and synthesis, induction and deduction, descriptive approach and techniques such as observation, analogy, comparison and others are used in the research process.

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High-Quality Sustainability Reporting with a Focus on Fair Climate-Related Disclosure—A Sign of Forward-Looking Corporate Governance

  • 会议论文

  • 发表日期：

    2025年

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  • Hristina Oreshkova

摘要

The evidence for climate change and its far-reaching impacts and consequences is consistent, compelling and disturbing. Extensive research and empirical data support the view and concern of scientists who have been sounding the alarm for decades that climate change is accelerating to the point where it poses an existential threat to humans and other living things. Tackling climate change is a highest priority for the European Parliament and a key part of the European Union’s strategy. The aim of the United Nations Paris Agreement is to limit the global average temperature increase and to avoid a potential rise of 2 ℃ (preferably 1.5 ℃) above pre-industrial levels. The accelerating process of climate change justifies the growing societal need and investor demand for transparent, meaningful and comparable information on climate-related issues. Responding to this global imperative requires significant improvements in corporate policies and reporting and disclosure practices. The article identifies and discusses the main reasons for the observed lack of quality in climate-related reporting and disclosure practices worldwide, and justifies the global need for a highly responsible approach to the development, adoption and implementation of appropriate corporate policies to address and overcome the identified weaknesses and vulnerabilities. It is reasonable to expect that such a forward-looking approach would benefit not only the company by enhancing its goodwill and public trust, but investors, all other stakeholders and society as a whole. A key prerequisite for achieving this is greater alignment of the conceptual frameworks used around the world, as well as the mechanisms and means to influence reporting and disclosure policies and practices. It is not the author’s aim or intention to compare frameworks, as has been done in previous studies on the subject. Heuristic methods such as analysis and synthesis, induction and deduction, descriptive approach and techniques such as observation, analogy, comparison and others are used in the research process.