Readiness for Mandatory Climate‐Related Disclosures: A Tri‐Jurisdictional Analysis of Governance Attributes in Australia, New Zealand and the United Kingdom
研究了澳大利亚、新西兰和英国公司对强制性气候披露的准备程度，发现治理方面整合较好，但战略和指标目标方面需改进，董事会性别多样性和可持续发展委员会有助于提升准备度。
ABSTRACT We evaluate the preparedness of companies in Australia, New Zealand and the United Kingdom to comply with emerging mandatory climate‐related disclosures (CRDs) aligned with TCFD recommendations, using their Carbon Disclosure Project (CDP) information. Our analysis also examines the corporate governance attributes influencing their readiness to disclose such information. The findings reveal a strong integration of the Governance aspect of TCFD‐recommended disclosure, with an 86% alignment between CDP and TCFD disclosures in the Governance theme. However, lower alignment is observed for Strategy (50%) and Metrics and Targets (49%), highlighting the need for immediate improvements in these areas. Firms with more gender‐diverse boards and the presence of a sustainability committee demonstrate greater readiness to comply with CRDs consistent with TCFD recommendations. These insights shed light on firms' readiness for emerging mandatory CRD across jurisdictions, especially considering the new IFRS sustainability standards. The results underscore the urgent need to enhance competencies in Strategy and Metrics and Targets, where alignment is weakest. Practically, by documenting these insights, we provide managers with early guidance on the implications of their current CRD practices. This is especially relevant for firms subject to, or soon to be impacted by, mandatory sustainability regulations in their jurisdictions. The findings hold paramount significance for managers, policymakers and regulators.