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Mandated Climate Change Disclosures by Firms Participating in the Regional Greenhouse Gas Initiative

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  • Martin Freedman
  • Jin Dong Park

Abstract

In February 2010, the Securities and Exchange Commission (SEC) issued an interpretive release clarifying what registrants should disclose related to climate change on their documents filed with SEC (i.e. 10-K or 20-F). This study investigates whether the electric utility firms participating in the Regional Greenhouse Gas Initiative (RGGI) are virtually fulfilling this mandate. An equal weighting content analysis was performed with two types of disclosure indices for RGGI and climate change, respectively. The results show that there are cross-sectional differences in the disclosures on both RGGI and climate change among the sample firms. However, we do not find any significant temporal difference in the disclosure on RGGI among the sample years from 2008 to 2011. Although there is no significant difference in the disclosure on climate change between the initiative 2009 and 2010 (the year targeted by the SEC), we find a significant difference between 2008 and 2010. This finding suggests that there was an impact of the SEC interpretive release on firms' disclosure on climate change.

Suggested Citation

  • Martin Freedman & Jin Dong Park, 2014. "Mandated Climate Change Disclosures by Firms Participating in the Regional Greenhouse Gas Initiative," Social and Environmental Accountability Journal, Taylor & Francis Journals, vol. 34(1), pages 29-44, April.
    • Handle: RePEc:taf:seaccj:v:34:y:2014:i:1:p:29-44
    DOI: 10.1080/0969160X.2013.852988
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    Cited by:

    1. Rong He & Le Luo & Abul Shamsuddin & Qingliang Tang, 2022. "Corporate carbon accounting: a literature review of carbon accounting research from the Kyoto Protocol to the Paris Agreement," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 261-298, March.
    2. Sohanur Rahman & Tehmina Khan & Pavithra Siriwardhane, 2019. "Sustainable development carbon pricing initiative and voluntary environmental disclosures quality," Business Strategy and the Environment, Wiley Blackwell, vol. 28(6), pages 1072-1082, September.
    3. David Talbot & Olivier Boiral, 2018. "GHG Reporting and Impression Management: An Assessment of Sustainability Reports from the Energy Sector," Journal of Business Ethics, Springer, vol. 147(2), pages 367-383, January.

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