Title: Principles and guidance on climate risk disclosure for businesses

Authors: Konstantina Karatzoudi; Terje Aven

Addresses: Department of Safety, Economics and Planning, University of Stavanger, Kjell Arholms Gate 41, 4021, Stavanger, Norway ' Department of Safety, Economics and Planning, University of Stavanger, Kjell Arholms Gate 41, 4021, Stavanger, Norway

Abstract: The present paper discusses how businesses should conduct climate risk disclosures. The work builds on guidance provided by the Task Force on Climate-related Financial Disclosures (TCFD) and related work. Using current risk science knowledge, we question what should be the fundamental principles for defining and using such disclosures when the scope is all types of risks, not only financial. From these principles, we present and discuss some specific guidance on how to formulate the disclosures. Examples are used to illustrate the principles and guidance. Businesses are encouraged to use the figure and guidance provided in the current work when planning and presenting climate change disclosures.

Keywords: climate risk disclosures; climate change risk; risk science; risk management principles.

DOI: 10.1504/IJBCRM.2024.137237

International Journal of Business Continuity and Risk Management, 2024 Vol.14 No.1, pp.14 - 29

Received: 23 Nov 2022
Accepted: 05 Mar 2023
Published online: 06 Mar 2024 *

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