Banks and Climate-Related Information: The Case of Portugal
| Autor: | Aldina Lopes Santos, Lúcia Lima Rodrigues |
|---|---|
| Přispěvatelé: | Universidade do Minho |
| Rok vydání: | 2021 |
| Předmět: |
directive 2014/95/EU
Geography Planning and Development TJ807-830 Climate change Management Monitoring Policy and Law TD194-195 Renewable energy sources banks media_common.cataloged_instance GE1-350 European union media_common Finance Potential impact Science & Technology non-financial reporting Environmental effects of industries and plants Portugal Renewable Energy Sustainability and the Environment business.industry Financial risk disclosures Investment (macroeconomics) Directive Environmental sciences climate-related information Content analysis Capital (economics) directive 2014 EU business |
| Zdroj: | Sustainability Volume 13 Issue 21 Sustainability, Vol 13, Iss 12215, p 12215 (2021) |
| ISSN: | 2071-1050 |
| Popis: | In 2014, a European Union (EU) Directive required certain large undertakings and groups to disclose non-financial information from 2017 onwards. In 2017, the EU guidelines on non-financial reporting established that reporting climate-related information is part of the non-financial information. Later, in 2019, the guidelines were reinforced to include a supplement that envisages improving climate-related information reporting. Banks can contribute to reducing climate-related risks by supporting investments in economic activities that aim to mitigate the risk of climate change. Capital needs should be reoriented towards sustainable investment. Banks shall manage financial risks arising from climate change therefore, they must integrate climate change into their policies and procedures, assessing the potential impact of projects and financing on climate change. This study aimed to evaluate how banks in Portugal have been reporting climate-related information and whether the level of information has increased since 2017. Using content analysis, findings indicated that banks are already including climate-related information however, they are still far from approaching what the new guidelines require. Results suggested that there is still a long way to go in this area concerning banks and regulators. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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