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

In: The Future of Risk Management, Volume I

Author

Listed:
  • Paola Bernardi

    (University of Turin)

  • Francesco Venuti

    (ESCP EUROPE)

  • Alberto Bertello

    (University of Turin)

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.

Suggested Citation

  • Paola Bernardi & Francesco Venuti & Alberto Bertello, 2019. "The Relevance of Climate Change Related Risks on Corporate Financial and Non-Financial Disclosure in Italian Listed Companies," Springer Books, in: Paola De Vincentiis & Francesca Culasso & Stefano A. Cerrato (ed.), The Future of Risk Management, Volume I, chapter 0, pages 77-107, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-14548-4_4
    DOI: 10.1007/978-3-030-14548-4_4
    as

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