Bota-Avram, C.; Tiron-Tudor, A. & Stanca L. (In press) Corporate Social Responsibility and Environmental Management [Core Economics, Q1]

Publicat: 09 Martie 2026

Bota-Avram, C.; Tiron-Tudor, A. & Stanca L. (In press) Assessing Climate Change Disclosure and Its Governance Drivers: Insights From the European Utilities Sector. Corporate Social Responsibility and Environmental Management

DOI: https://doi.org/10.1002/csr.70523

✓ Publisher: Wiley
✓ Categories: Business; Management; Environmental Studies
✓ Article Influence Score (AIS): 1.520 (2024) / Q1 in all categories.

Abstract:
This study aims to enhance academic understanding of the factors influencing the disclosure practices of climate change among European utility companies, specifically in the context of their sustainability reporting. The primary objective is to explore, through a multi-theoretical framework, the governance drivers that significantly affect the extent of climate change disclosures in the European utilities sector. Data were collected from LSEG Workspace, formerly known as Refinitiv Eikon, which included a sample of 71 European utilities companies operating during the financial year 2024. Initially, in accordance with the Climate-Related Financial Disclosures recommendations of the Task Force (TCFD) and aligned with Sustainable Development Goal 13 (SDG 13: climate action), we established a climate-related score (TCFD _Score) to evaluate the compliance of sustainability reports with the TCFD framework. This score was developed using an automated structured process that incorporates a machine learning approach, specifically designed in the Python programming language within the Google Colab environment.
Subsequently, an ordinary least squares regression analysis was used to identify which governance drivers significantly affect the climate-related score. The findings indicate that the characteristics of the board (such as gender diversity and board size), CEO duality, external assurance of sustainability reporting, and the qualifications of external assurance providers in the audit-accounting field positively and significantly influence the climate disclosure score. On the contrary, factors such as board independence, audit committee independence, sustainability-based compensation, and dedicated sustainability committees did not show a significant impact. By examining these determinants, this research seeks to provide valuable information on the mechanisms underlying transparency and accountability in environmental reporting by utilities providers.

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