Call for Papers “Determinants and Consequences of Climate Risk Disclosure”

Guest Editors:

Nazim Hussain
Faculty of Economics and Business, University of Groningen, Groningen, The Netherlands
Email: n.hussain@rug.nl

Duc Khuong Nguyen
IPAG Business School, 184 Boulevard Saint-Germain, 75006 Paris, France
Email: d.nguyen@ipag.fr

Introduction

Climate change is one of the biggest challenges of the 21st century. The problem of climate change is linked to all aspects of growth and development including economic development, social fabric, productivity, and industrial development. It also causes environmental hazards, climate-related risk management, and transitional risks (Breitenstein, Nguyen & Walther, 2021; Breitenstein et al., 2022). Climate scientist have observed that the trend towards higher global temperatures exacerbates the risks of droughts. Recently, researcher note the prices of stocks discount these risks (Hong, Li, & Xu, 2019). This shows the value relevance of climate risk. This risk of climate change has been mainly caused by unsustainable industrial growth. Industries and corporations are the main economic development drivers. At the same time, they are the biggest consumers of environmental resources (Hussain, Rigoni, & Orij, 2018). Since the beginning of industrialization, the corporations have been exploiting natural resources unsustainably. Recently, in the light of concerns about climate change, many countries are planning to implement a carbon tax to control the greenhouse gas emissions.

Additionally, corporations are now pressurized by various stakeholders including policy makers to disclose information about their sustainability initiatives as well as climate change risks (Griffin & Jaffe, 2022; Hussain, Rigoni, & Cavezzali, 2018). Corporations across the globe have started disclosing their sustainability related information in their financial reports and standalone sustainability reports. However, very little has been researched about the level of climate risk disclosure and by the listed companies. Recent research shows that corporations choose to disclose selective sustainability information and hide other unsustainable practices (García-Sánchez, Hussain, Khan, & Martínez-Ferrero, 2021).

The objective of this special issue is to improve knowledge about corporate environmental performance and its role in the financial market and sustainable economic development. This issue focuses on the evaluation of the implementation of corporate environmental performance in a true sense and its impact on society in a broader perspective and stakeholders in a more specific perspective. This special issue encourages the research on this less explored area in the corporate sustainability literature as suggested by recent research works (García-Sánchezet et al., 2021; Testa, Boiral, & Iraldo, 2018; Du, 2015). We encourage submission of original papers exploring research questions related to determinants and consequences of corporate climate risk disclosure.

The journal particularly welcomes submissions including, but is not limited to studies addressing:
- Institutional level determinants of corporate climate risk disclosure;
- Market and firm level determinants of climate risk disclosure;
- Climate risk disclosure and access to finance;
- Climate risk disclosure and investors’ response;
- Corporate reputation management;
- Role of managerial characteristics in climate risk disclosure transparency;
- Stakeholder engagement and climate risk disclosure

Important dates
• Last date of submission: September 30, 2022
• Publication: January 2023

How to submit
Authors may submit their research papers at https://mc.manuscriptcentral.com/jead. The papers should be between 6000 and 8000 words. A guide for authors and other relevant information for submission of manuscripts is available on the Author guidelines page.

Note
If you have any queries, please contact the Editorial Office at submisson@ktpt.edu.vn. To learn more about JED, please visit journal homepage.

References

Breitenstein, M., Nguyen, D. K., & Walther, T. (2021). Environmental hazards and risk management in the financial sector: A systematic literature review. Journal of Economic Surveys, 35(2), 512-538.

Breitenstein, M., Anke, C.-P., Nguyen, D.K. and Walther, T. (2020). Stranded asset risk and political uncertainty: the impact of the coal phase-out on the german coal industry. The Energy Journal, 43(5).

García-Sánchez, I. M., Hussain, N., Khan, S. A., & Martínez-Ferrero, J. (2021). Do markets punish or reward corporate social responsibility decoupling?. Business & Society, 60(6), 1431-1467.

Griffin, P., & Jaffe, A. M. (2022). Challenges for a climate risk disclosure mandate. Nature Energy, 7(1), 2-4.

Hong, H., Li, F. W., & Xu, J. (2019). Climate risks and market efficiency. Journal of econometrics, 208(1), 265-281.

Hussain, N., Rigoni, U., & Cavezzali, E. (2018). Does it pay to be sustainable? Looking inside the black box of the relationship between sustainability performance and financial performance. Corporate Social Responsibility and Environmental Management, 25(6), 1198-1211.

Hussain, N., Rigoni, U., & Orij, R. P. (2018). Corporate governance and sustainability performance: Analysis of triple bottom line performance. Journal of Business Ethics, 149(2), 411-432.

Testa, F., Boiral, O., & Iraldo, F. (2018). Internalization of environmental practices and institutional complexity: can stakeholders pressures encourage greenwashing?. Journal of Business Ethics, 147(2), 287-307.