Corporate climate-related reporting: The use of the TCFD recommendations in Poland

• Authors: Krasodomska Joanna

Title variants

PL

Raportowanie kwestii klimatycznych: wykorzystanie rekomendacji TCFD przez spółki działające w Polsce

• Languages of publication: EN

Abstracts

EN

Purpose: The paper aims to assess the level of alignment of disclosures made by companies operating in Poland with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) before the implementation of the Corporate Sustainability Reporting Directive (CSRD), and to identify the factors influencing this level. Methodology/approach: The study uses legitimacy theory as a theoretical background. It examines 154 large public interest companies listed on the Warsaw Stock Exchange (WSE), using a disclosure index based on the TCFD recommendations. Disclosures are assessed by industry (high-stakes vs low-stakes) and selected corporate governance mechanisms. The Mann-Whitney U test is employed to evaluate the empirical data. Findings: The level of alignment of disclosures with the TCFD recommendations is low and varies significantly. Risk Management is an area where companies perform better, while Governance shows the lowest compliance. Industry type does not influence the level of disclosures. However, all four governance mechanisms considered (board size, women on the board, foreign board members, and strategic approach to environmental issues) are found to be relevant. Research limitations/implications: The study is limited by analyzing data from only one year. Originality/value: The paper contributes to the literature on TCFD-recommended disclosures by providing insights from a new context and by introducing previously unexplored determinants in the TCFD context, such as foreign board members and addressing environmental issues in corporate strategy.

PL

Cel: Celem artykułu jest ocena poziomu zgodności ujawnień dokonywanych przez spółki działające w Polsce z rekomendacjami Grupy Zadaniowej ds. Ujawniania Informacji Związanych z Klimatem (Task Force on Climate-related Financial Disclosures – TCFD) przed wdrożeniem Corporate Sustainability Reporting Directive (CSRD) oraz identyfikacja czynników wpływających na ten poziom. Metodyka/podejście badawcze: W badaniu zastosowano teorię legitymizacji. Objęto nim 154 duże jednostki zainteresowania publicznego notowane na Giełdzie Papierów Wartościowych w Warszawie, wykorzystując indeks oparty na rekomendacjach TCFD. Ujawnienia zostały poddane ocenie według branży (o wysokim ryzyku vs o niskim ryzyku) oraz wybranych mechanizmów ładu korporacyjnego. Do analizy danych empirycznych zastosowano test U Manna-Whitneya. Wyniki: Poziom zgodności ujawnień z rekomendacjami TCFD jest niski i zróżnicowany. Zarządzanie ryzykiem jest obszarem najlepiej raportowanym przez spółki, natomiast ujawnienia w obszarze Ład korporacyjny wykazują najniższą zgodność. Branża nie wpływa na poziom ujawnień, jednakże wszystkie cztery mechanizmy ładu korporacyjnego (liczba członków, kobiet i zagranicznych członków we władzach spółki oraz podejście strategiczne do kwestii środowiskowych) istotnie je różnicują. Ograniczenia/implikacje badawcze: Badanie ogranicza się do jednego roku. Oryginalność/wartość: Artykuł poszerza wiedzę w zakresie raportowania spółek według rekomendacji TCFD, dostarczając informacji dotyczących Polski oraz wprowadzając czynniki, które nie były wcześniej badane, takie jak rola zagranicznych członków we władzach i podejście strategiczne do zagadnień środowiskowych.

Keywords

EN

TCFD; disclosure index; governance mechanisms; industry

PL

TCFD; indeks ujawnień; mechanizmy ładu korporacyjnego; branża

• Publisher: Stowarzyszenie Księgowych w Polsce
• Journal: Zeszyty Teoretyczne Rachunkowości
• Year: 2025
• Issue: 49(3)
• Pages: 101-122

Contributors

author

Krasodomska Joanna

• Krakow University of Economics, College of Economics and Finance, Institute of Finance, Department of Financial Accounting

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