Latest developments in sustainability reporting: How the TCFD framework shapes the understanding of climate risks
(2022) SMMM40 20221Department of Service Studies
- Abstract (Swedish)
- This thesis explores how the latest trends in sustainability reporting are shaping the understanding of climate-related risks. Having the Task Force on Climate-Related Financial Disclosures (TCFD) framework as a proxy, this thesis focuses on the double materiality perspective, namely on how new disclosures are related not only to organizational efforts in lowering emissions, but on disclosures based on a climate-scenario analysis wherein companies are stressing the impacts of climate-related risks on their infrastructure and operations in the same time. The aim of the study is to provide insights on how organizations are understanding climate-related risks through the double materiality perspective, how they integrate these risks in their... (More)
- This thesis explores how the latest trends in sustainability reporting are shaping the understanding of climate-related risks. Having the Task Force on Climate-Related Financial Disclosures (TCFD) framework as a proxy, this thesis focuses on the double materiality perspective, namely on how new disclosures are related not only to organizational efforts in lowering emissions, but on disclosures based on a climate-scenario analysis wherein companies are stressing the impacts of climate-related risks on their infrastructure and operations in the same time. The aim of the study is to provide insights on how organizations are understanding climate-related risks through the double materiality perspective, how they integrate these risks in their future strategies, and if strategies are coordinated - in the same sector. Having the relational theory of risk as a lens, this study addresses the construction of risk through narratives. The empirical material consists of aviation companies’ reports that have included the disclosures against the TCFD requirements, from which themes have emerged. These themes are related to how organizations can be both an object at risk as well as a risk object. By revising the relation theory of risk, the analysis showcases how companies construct sequences of risk objects, in an attempt to develop knowledge and agency. Moreover, two final themes will be presented that emphasize the industry’s response not only to risks, but to fears. The fears that have been identified to drive future engagements are the fear of a regulated market and the fear of a growing environmental awareness to which companies, in unison, reconstruct in opportunities. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9108396
- author
- Neagu, Andreea LU
- supervisor
- organization
- course
- SMMM40 20221
- year
- 2022
- type
- H2 - Master's Degree (Two Years)
- subject
- keywords
- sustainability reporting, TCFD framework, relational theory of risk, risk communication, environmental risk communication, finance, transition finance, climate-related physical risks, transition risks, strategy, aviation industry.
- language
- English
- id
- 9108396
- date added to LUP
- 2023-01-23 16:50:39
- date last changed
- 2023-01-23 16:50:39
@misc{9108396,
abstract = {{This thesis explores how the latest trends in sustainability reporting are shaping the understanding of climate-related risks. Having the Task Force on Climate-Related Financial Disclosures (TCFD) framework as a proxy, this thesis focuses on the double materiality perspective, namely on how new disclosures are related not only to organizational efforts in lowering emissions, but on disclosures based on a climate-scenario analysis wherein companies are stressing the impacts of climate-related risks on their infrastructure and operations in the same time. The aim of the study is to provide insights on how organizations are understanding climate-related risks through the double materiality perspective, how they integrate these risks in their future strategies, and if strategies are coordinated - in the same sector. Having the relational theory of risk as a lens, this study addresses the construction of risk through narratives. The empirical material consists of aviation companies’ reports that have included the disclosures against the TCFD requirements, from which themes have emerged. These themes are related to how organizations can be both an object at risk as well as a risk object. By revising the relation theory of risk, the analysis showcases how companies construct sequences of risk objects, in an attempt to develop knowledge and agency. Moreover, two final themes will be presented that emphasize the industry’s response not only to risks, but to fears. The fears that have been identified to drive future engagements are the fear of a regulated market and the fear of a growing environmental awareness to which companies, in unison, reconstruct in opportunities.}},
author = {{Neagu, Andreea}},
language = {{eng}},
note = {{Student Paper}},
title = {{Latest developments in sustainability reporting: How the TCFD framework shapes the understanding of climate risks}},
year = {{2022}},
}