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How Compliant Are Organizations with the TCFD Recommendations?: A content analysis on Swedish OMXS30
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Business Studies.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Business Studies.
2019 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

Due to the absence of disclosure on climate related risks and opportunities in large financial organizations’ reports there is an urgent need for organizations and institutions to asses and price their climate mitigation governance. This has led to new initiatives such as Task Force on Climate-Related Financial Disclosures (TCFD), a non-governmental organization and voluntary disclosure standard. This thesis investigates Swedish organizations in OMXS30 index and their level of compliance with TCFD in their public reports. The results for 2018 show a low average compliance of ~38%, but an increase in average compliance over time (2016-2018). The financial sector outperformed other sectors and received the highest average compliance score of 43.9% in 2018. The overall lack of compliance and absence of climate risk disclosures may be due to the new descent of the recommendations, an ongoing implementation work, uncertainties or conflict of interest. The organizations on OMXS30 need to better incorporate their non-financial risks (climate risks) into their financial filings. Low compliance, low adoption and lack of knowledge could be evidence that TCFD is not yet perceived as legitimizing for organizations. 

Place, publisher, year, edition, pages
2019. , p. 62
Keywords [en]
Non-financial disclosures, Financial disclosures, TCFD, Task Force On Climaterelated Financial Disclosures, TCFD recommendations, Climate risk, Climate risk disclosures, Sustainable finance, Content analysis, TCFD compliance, Legitimacy theory
National Category
Business Administration
Identifiers
URN: urn:nbn:se:uu:diva-397494OAI: oai:DiVA.org:uu-397494DiVA, id: diva2:1371796
Subject / course
Business Studies
Educational program
Master Programme in Management, Communication and IT
Presentation
2019-05-27, B105, Ekonomikum, Kyrkogårdsgatan 10, Uppsala, 13:00 (Swedish)
Supervisors
Examiners
Available from: 2019-11-21 Created: 2019-11-20 Last updated: 2019-11-21Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • ieee
  • modern-language-association
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  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
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Output format
  • html
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  • asciidoc
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