Climate Related Financial Disclosures and Corporate Social Responsibility: Empirical Evidence from Oil Marketing Companies of Pakistan

Purpose: This study examines climate-related financial disclosures of corporate social responsibility (CSR) and their perceived relationship with firm financial performance in the oil marketing companies of Pakistan.Design/Methodology/Approach: This study adopted a qualitative approach to investigate the climate-related financial disclosure of corporate social responsibility through semi-structured interviews conducted with managers of oil marketing companies of Pakistan and with community participants affected by gas flaring.Findings: Climate-related issues are relevant to the financial disclosure of corporate social responsibility and raise awareness of the need for action to limit climate-related challenges, particularly those arising from gas flaring.Implications/Originality/Value: The results of this study are limited to climate-related challenges arising from the flaring of gas and oil, and the findings are not subject to statistical generalization because the interpretation is based on a small number of semi-structured interviews. The study can be extended in future research. The results may help company managers with empirical evidence to orient and test enhanced CSR strategies for overcoming climate-related issues affecting society. This research contributes to the literature on CSR strategies for the governance of climate-related financial disclosure, thereby supporting investors and stakeholders in decision making.