Climate on the Agenda: How Board Composition Drives Climate Change Disclosure in European Banks
研究了107家欧洲上市银行的气候变化信息披露水平，发现董事会专业知识、性别多样性和规模能提升披露，而独立性无显著影响，对银行治理和气候透明度有参考价值。
ABSTRACT Climate change demands immediate and coordinated action from individuals, governments, and companies. Companies, in particular, play a pivotal role in mitigating climate risks and reducing environmental impacts by adopting sustainable practices that extend beyond regulatory compliance. This responsibility is not confined to high‐emission industries; service sectors, including financial institutions, also play a crucial role. Banks are uniquely positioned to address climate change by managing the carbon footprint of their operations and evaluating the environmental impacts of their loan portfolios and financial activities. The urgency of climate change has underscored the importance of transparent communication by banks regarding climate‐related information. While climate change disclosure (CCD) has garnered significant academic interest, research on its determinants in the banking sector remains limited. This study aims to fill this gap by examining the level of CCD among European banks and identifying the factors influencing the dissemination of such information through their official websites. In particular, drawing on agency theory, it investigates the role of board characteristics in shaping CCD practices. The findings, based on an econometric analysis conducted on a sample of 107 publicly listed European banks, reveal that board expertise, gender diversity, and size positively influence the level of CCD, whereas board independence has no significant effect. These results underscore the critical role of governance structures in fostering transparency and accountability in climate‐related matters.