Stakeholder pressures and climate change disclosure : Australian evidence

This paper investigates the stakeholder pressures behind corporate accountability and disclosures in relation to climate change. By means of a questionnaire survey, the study focuses on ascertaining the views of a sample of stakeholder groups such as government bodies, institutional investors, environmental NGOs, media accounting professionals, and researchers to examine their perceptions of pressures upon Australian corporations to be accountable in relation to climate change. Prior social and environmental research found that NGOs (Deegan and Blomquist, 2006; Tilt, 1994) and the media (Brown and Deegan, 1996; Islam and Deegan, 2010) were powerful stakeholder groups influencing corporate social and environmental disclosure practices. Our paper finds that along with NGOs and the media, institutional investors and regulators (governments) are equally important and powerful actors for applying pressure for corporate accountability in relation to climate change. Based on the findings of the paper, we would argue that climate change is an issue with no single stakeholder group involved, rather it is a set of stakeholder groups including regulators, institutional investors, the media, and NGOs who demand corporations to be accountable.