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Environmental and climate mandatory disclosure : a paper tiger ? Evidence from France

Author

Listed:
  • Bénédicte Coestier
  • Mathieu Bernard
  • Fabienne Llense
  • Maxime Lucet

Abstract

During the 2010s, mandatory disclosure of extra-financial information in France has been encouraged by five major laws passed to reinforce corporate social, environmental and climate responsibility of systemic actors, key to the transition process to a low-carbon, circular and sustainable economy. Whether these laws are paper tigers is of the utmost importance in understanding, notably, how firms disclose whendisclosure is mandatory. Considering laws as linguistic formulations and their meanings, we provide a qualitative analysis of Universal Reporting Documents of some of the largest publicly traded French companies (CAC40). We demonstrate that this intense regulation period has fostered a common language, instilling an environmental and climate reporting culture. In addition, based on a variety of accountability profiles - responsiveness-oriented, controllabillity-oriented, and out-of-step firms -, we highlight diverse dynamics as to the appropriation of the successive laws, along with private and institutional standards.

Suggested Citation

  • Bénédicte Coestier & Mathieu Bernard & Fabienne Llense & Maxime Lucet, 2024. "Environmental and climate mandatory disclosure : a paper tiger ? Evidence from France," EconomiX Working Papers 2024-32, University of Paris Nanterre, EconomiX.
    • Handle: RePEc:drm:wpaper:2024-32
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    References listed on IDEAS

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    More about this item

    Keywords

    Mandatory disclosure; Accountability; Textual analysis; Environment; Climate; Law analysis;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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