Towards the development of a best practice index for the disclosure of organisations' climate change-related corporate governance practices

The aim of this study is to develop a disclosure guide for climate-change-related corporate governance (CCCG) practices. Drawing from existing climate change policy guidelines together with content analysis of leading Australian companies’ disclosure practices, we develop a best practice index for the disclosure of CCCG practises. The best practice index is further informed, validated and refined by the contribution of experts from a range of stakeholder groups. Our index represents the most comprehensive list generated to date, utilising experts’ opinions, in relation to CCCG disclosure practices. This CCCG disclosure index would be useful for companies seeking to provide information in relation their CCCG practices

Disclosure of climate change-related corporate governance practices

Based on a survey of climate change experts in different stakeholder groups and interviews with corporate climate change managers, this study provides insights into the gap between what information stakeholders expect and what Australian corporations disclose. This paper focuses on annual reports and sustainability reports with specific reference to the disclosure of climate change-related corporate governance practices. The findings culminate in the refinement of a best practice index for the disclosure of climate-change-related corporate governance practises. Interview results indicate that the low levels of disclosures made by Australian companies may be due to a number of factors. These include a potential expectations gap, the absence of pressure from powerful stakeholders, a concern for stakeholder information overload, the cost of providing information, limited perceived accountability for climate change, and preferring other media for disclosure.

Demand for, and impediments to, the disclosure of information about climate change-related corporate governance practices

Based on a survey of climate change experts in different stakeholder groups and interviews with corporate climate change managers, this study provides insights into the gap between what information stakeholders expect, and what Australian corporations disclose. This paper focuses on annual reports and sustainability reports with specific reference to the disclosure of climate change-related corporate governance practices. The findings culminate in the governance practises. Interview results indicate that the low levels of disclosures made by Australian companies may be due to a number of factors. A lack of proactive stakeholder engagement and an apparent preoccupation with financial performance and advancing shareholders interest, coupled with a failure by managers to accept accountability, seems to go a long way to explaining low levels of disclosure.

Climate change-related corporate governance information : an explanation of the difference between the supply of and demand for such information

This study investigates the gap between the climate change-related corporate governance information being disclosed by companies, and the information sought by stakeholders. To accomplish this objective we utilised previous research on stakeholder demand for information, and we conducted in-depth interviews with six corporate representatives from major Australian emission-intensive companies. Having gained and documented a rich insight into the potential factors responsible for the current gap in disclosure we find that the existence of an expectations gap; the perceived cost of providing commercially sensitive information; the limited accountability being accepted by the corporate managers; and, a lack of stakeholder pressure together contribute to the lack of disclosure. In highlighting the gap in disclosure, this study suggests strategies to reduce the gap in climate change-related corporate governance disclosures.

Corporate climate change-related governance practices and related disclosures : evidence from Australia

This paper investigates the climate change-related corporate governance disclosure practices of five major Australian energy-intensive companies over a 16-year period. In doing so, a content analysis instrument is developed to identify disclosures made in relation to various policies and procedures the organisations have in place for addressing the issues associated with climate change. This instrument is applied to the respective companies' annual reports and sustainability reports. An increasing trend is found in companies' climate change-related corporate governance disclosures over time; however, in many instances the disclosures provide limited insights into the climate change-related risks and opportunities confronting the sample companies.

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.

Stakeholder pressures on corporate climate change-related accountability and disclosures: Australian evidence

This study investigates stakeholder pressures on corporate climate change-related accountability and disclosure practices in Australia. While existing scholarship investigates stakeholder pressures on companies to discharge their broader accountability through general social and environmental disclosures, there is a lack of research investigating whether and how stakeholder pressures emerge to influence accountability and disclosure practices related to climate change. We surveyed various stakeholder groups to understand their concerns about climate change-related corporate accountability and disclosure practices. We present three primary findings: first, while NGOs and the media have some influence, institutional investors and government bodies (regulators) are perceived to be the most powerful stakeholders in generating climate change-related concern and coercive pressure on corporations to be accountable. Second, corporate climate change-related disclosures, as documented through the Carbon Disclosure Project (CDP), are positively associated with such perceived coercive pressures. Lastly, we find a positive correlation between the level of media attention to climate change and Australian corporate responses to the CDP. Our results indicate that corporations will not disclose climate change information until pressured by non-financial stakeholders. This suggests a larger role for non-financial actors than previously theorized, with several policy implications.

Motivators and barriers to incorporating climate change-related health risks in environmental health impact assessment

Climate change presents risks to health that must be addressed by both decision-makers and public health researchers. Within the application of Environmental Health Impact Assessment (EHIA), there have been few attempts to incorporate climate change-related health risks as an input to the framework. This study used a focus group design to examine the perceptions of government, industry and academic specialists about the suitability of assessing the health consequences of climate change within an EHIA framework. Practitioners expressed concern over a number of factors relating to the current EHIA methodology and the inclusion of climate change-related health risks. These concerns related to the broad scope of issues that would need to be considered, problems with identifying appropriate health indicators, the lack of relevant qualitative information that is currently incorporated in assessment and persistent issues surrounding stakeholder participation. It was suggested that improvements are needed in data collection processes, particularly in terms of adequate communication between environmental and health practitioners. Concerns were raised surrounding data privacy and usage, and how these could impact on the assessment process. These findings may provide guidance for government and industry bodies to improve the assessment of climate change-related health risks.

Climate change-related regime shifts have altered spatial synchrony of plankton dynamics in the North Sea

During the 1980s, the North Sea plankton community underwent a well-documented ecosystem regime shift, including both spatial changes (northward species range shifts) and temporal changes (increases in the total abundances of warmer water species). This regime shift has been attributed to climate change. Plankton provide a link between climate and higher trophic-level organisms, which can forage on large spatial and temporal scales. It is therefore important to understand not only whether climate change affects purely spatial or temporal aspects of plankton dynamics, but also whether it affects spatiotemporal aspects such as metapopulation synchrony. If plankton synchrony is altered, higher trophic-level feeding patterns may be modified. A second motivation for investigating changes in synchrony is that the possibility of such alterations has been examined for few organisms, in spite of the fact that synchrony is ubiquitous and of major importance in ecology. This study uses correlation coefficients and spectral analysis to investigate whether synchrony changed between the periods 1959–1980 and 1989–2010. Twenty-three plankton taxa, sea surface temperature (SST), and wind speed were examined. Results revealed that synchrony in SST and plankton was altered. Changes were idiosyncratic, and were not explained by changes in abundance. Changes in the synchrony of Calanus helgolandicus and Para-pseudocalanus spp appeared to be driven by changes in SST synchrony. This study is one of few to document alterations of synchrony and climate-change impacts on synchrony. We discuss why climate-change impacts on synchrony may well be more common and consequential than previously recognized.

Climate change-related regime shifts have altered spatial synchrony of plankton dynamics in the North Sea

During the 1980s, the North Sea plankton community underwent a well-documented ecosystem regime shift, including both spatial changes (northward species range shifts) and temporal changes (increases in the total abundances of warmer water species). This regime shift has been attributed to climate change. Plankton provide a link between climate and higher trophic-level organisms, which can forage on large spatial and temporal scales. It is therefore important to understand not only whether climate change affects purely spatial or temporal aspects of plankton dynamics, but also whether it affects spatiotemporal aspects such as metapopulation synchrony. If plankton synchrony is altered, higher trophic-level feeding patterns may be modified. A second motivation for investigating changes in synchrony is that the possibility of such alterations has been examined for few organisms, in spite of the fact that synchrony is ubiquitous and of major importance in ecology. This study uses correlation coefficients and spectral analysis to investigate whether synchrony changed between the periods 1959–1980 and 1989–2010. Twenty-three plankton taxa, sea surface temperature (SST), and wind speed were examined. Results revealed that synchrony in SST and plankton was altered. Changes were idiosyncratic, and were not explained by changes in abundance. Changes in the synchrony of Calanus helgolandicus and Para-pseudocalanus spp appeared to be driven by changes in SST synchrony. This study is one of few to document alterations of synchrony and climate-change impacts on synchrony. We discuss why climate-change impacts on synchrony may well be more common and consequential than previously recognized.

Corporate environmental and climate change disclosures:empirical evidence from Bangladesh

Purpose-In this article, we examine the nature and the extent of corporate environmental and climate change disclosures in Bangladesh. Design/methodology/ approach-For this purpose, we have undertaken a content analysis of annual reports related to the year 2008 and websites of the 100 largest companies (according to market capitalization) listed on the Dhaka Stock Exchange. We have used 24 content analysis categories to capture the relevant disclosures related to climate change and other environmental issues. Findings-Key findings of our analysis suggest that the level of environmental and climate change disclosures is very low in Bangladesh. Although 91% of companies made disclosures in at least one category, most companies disclosed information only on the ''energy usage'' category, which is a mandatory requirement. Even fewer companies made disclosures in the specific areas of climate change. No disclosure was made in the significant categories such as GHG emissions. The second most popular category related to climate change was adaptation measures. Among the other environmental disclosures, a significant finding is that only 5% of (website 6%) companies disclosed that they had an effluent treatment plant. Closer examination of the nature of disclosures suggests that most of the disclosures are positive and descriptive in nature. Originality/value-As far as we are aware, this is the first study of its kind in Bangladesh which systematically examines corporate climate change disclosures as a particular focus of research. Copyright © 2010 by Emerald Group Publishing Limited.

Local air pollution and global climate change taxes: a distributional analysis

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Climate change and marine benthos: a review of existing research and future directions in the North Atlantic

There is growing evidence that climate change could affect marine benthic systems. This review provides information of climate change‐related impacts on the marine benthos in the North Atlantic. We cover a number of related research aspects, mainly in connection to two key issues. First, is the relationship between different physical aspects of climate change and the marine benthos. This section covers: (a) the responses to changes in seawater temperature (biogeographic shifts and phenology); (b) altered Hydrodynamics; (c) ocean acidification (OA); and (d) sea‐level rise‐coastal squeeze. The second major issue addressed is the possible integrated impact of climate change on the benthos. This work is based on relationships between proxies for climate variability, notably the North Atlantic Oscillation (NAO) index, and the long‐term marine benthos. The final section of our review provides a series of conclusions and future directions to support climate change research on marine benthic systems. WIREs Clim Change 2015, 6:203–223. doi: 10.1002/wcc.330

Implications of climate change for the fishes of the British Isles

Recent climatic change has been recorded across the globe. Although environmental change is a characteristic feature of life on Earth and has played a major role in the evolution and global distribution of biodiversity, predicted future rates of climatic change, especially in temperature, are such that they will exceed any that has occurred over recent geological time. Climate change is considered as a key threat to biodiversity and to the structure and function of ecosystems that may already be subject to significant anthropogenic stress. The current understanding of climate change and its likely consequences for the fishes of Britain and Ireland and the surrounding seas are reviewed through a series of case studies detailing the likely response of several marine, diadromous and freshwater fishes to climate change. Changes in climate, and in particular, temperature have and will continue to affect fish at all levels of biological organization: cellular, individual, population, species, community and ecosystem, influencing physiological and ecological processes in a number of direct, indirect and complex ways. The response of fishes and of other aquatic taxa will vary according to their tolerances and life stage and are complex and difficult to predict. Fishes may respond directly to climate-change-related shifts in environmental processes or indirectly to other influences, such as community-level interactions with other taxa. However, the ability to adapt to the predicted changes in climate will vary between species and between habitats and there will be winners and losers. In marine habitats, recent changes in fish community structure will continue as fishes shift their distributions relative to their temperature preferences. This may lead to the loss of some economically important cold-adapted species such as Gadus morhua and Clupea harengus from some areas around Britain and Ireland, and the establishment of some new, warm-adapted species. Increased temperatures are likely to favour cool-adapted (e.g. Perca fluviatilis) and warm-adapted freshwater fishes (e.g. roach Rutilus rutilus and other cyprinids) whose distribution and reproductive success may currently be constrained by temperature rather than by cold-adapted species (e.g. salmonids). Species that occur in Britain and Ireland that are at the edge of their distribution will be most affected, both negatively and positively. Populations of conservation importance (e.g. Salvelinus alpinus and Coregonus spp.) may decline irreversibly. However, changes in food-web dynamics and physiological adaptation, for example because of climate change, may obscure or alter predicted responses. The residual inertia in climate systems is such that even a complete cessation in emissions would still leave fishes exposed to continued climate change for at least half a century. Hence, regardless of the success or failure of programmes aimed at curbing climate change, major changes in fish communities can be expected over the next 50 years with a concomitant need to adapt management strategies accordingly.