Banks and Climate-Related Information: The Case of Portugal

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. Late...

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Autores principales:	Aldina Lopes Santos, Lúcia Lima Rodrigues
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	banks disclosures directive 2014/95/EU non-financial reporting climate-related information Portugal Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/4fd2fa2e36be4f38b5c13ab20a2f68a4
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id	oai:doaj.org-article:4fd2fa2e36be4f38b5c13ab20a2f68a4
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spelling	oai:doaj.org-article:4fd2fa2e36be4f38b5c13ab20a2f68a42021-11-11T19:48:00ZBanks and Climate-Related Information: The Case of Portugal10.3390/su1321122152071-1050https://doaj.org/article/4fd2fa2e36be4f38b5c13ab20a2f68a42021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/12215https://doaj.org/toc/2071-1050In 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.Aldina Lopes SantosLúcia Lima RodriguesMDPI AGarticlebanksdisclosuresdirective 2014/95/EUnon-financial reportingclimate-related informationPortugalEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12215, p 12215 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	banks disclosures directive 2014/95/EU non-financial reporting climate-related information Portugal Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	banks disclosures directive 2014/95/EU non-financial reporting climate-related information Portugal Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Aldina Lopes Santos Lúcia Lima Rodrigues Banks and Climate-Related Information: The Case of Portugal
description	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.
format	article
author	Aldina Lopes Santos Lúcia Lima Rodrigues
author_facet	Aldina Lopes Santos Lúcia Lima Rodrigues
author_sort	Aldina Lopes Santos
title	Banks and Climate-Related Information: The Case of Portugal
title_short	Banks and Climate-Related Information: The Case of Portugal
title_full	Banks and Climate-Related Information: The Case of Portugal
title_fullStr	Banks and Climate-Related Information: The Case of Portugal
title_full_unstemmed	Banks and Climate-Related Information: The Case of Portugal
title_sort	banks and climate-related information: the case of portugal
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/4fd2fa2e36be4f38b5c13ab20a2f68a4
work_keys_str_mv	AT aldinalopessantos banksandclimaterelatedinformationthecaseofportugal AT lucialimarodrigues banksandclimaterelatedinformationthecaseofportugal
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Banks and Climate-Related Information: The Case of Portugal

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