Environmental disclosure and environmental performance: The role of climate governance and ESG controversies
環境開示と環境パフォーマンス：気候ガバナンスとESG論争の役割 (AI 翻訳)
Hussain Muhammad, Mohamed Aman
🤖 gxceed AI 要約
日本語
欧州600社のパネルデータを用い、環境パフォーマンスと環境開示の正の関連を確認。気候ガバナンスが強化すると関連が強まり、ESG論争があると弱まる。開示の信頼性にはガバナンスと評判が重要。
English
Using panel data from STOXX Europe 600 firms, this study finds a positive association between environmental performance and disclosure, strengthened by climate governance and weakened by ESG controversies. Credible disclosure requires strong oversight and reputation.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本ではSSBJ開示が始まり、実質的な環境パフォーマンスと開示の整合性が問われる。本研究成果は、ガバナンス体制の整備が開示の信頼性向上に寄与することを示し、日本の企業統治と開示実務に示唆を与える。
In the global GX context
Globally, as ISSB and CSRD mandate sustainability disclosures, this paper highlights that governance mechanisms are crucial for credible reporting. It informs regulators and practitioners on how to enhance disclosure authenticity and mitigate greenwashing risks.
👥 読者別の含意
🔬研究者:Provides empirical evidence on the moderating roles of climate governance and ESG controversies in the performance-disclosure link.
🏢実務担当者:Highlights the importance of strong climate governance to ensure environmental disclosures are credible and valued by stakeholders.
🏛政策担当者:Suggests that governance-based reporting frameworks are key to reliable disclosure, informing policy design for sustainability reporting standards.
📄 Abstract（原文）
Abstract This study examines whether environmental disclosure reflects underlying environmental performance and identifies the conditions under which this relationship holds. Prior literature reports mixed evidence on the performance–disclosure link, suggesting that disclosure may either signal substantive outcomes or serve reputational purposes. We address this inconsistency by investigating how climate governance and ESG controversies shape the credibility of environmental disclosure. Using a panel of 3587 firm‐year observations from STOXX Europe 600 firms across 17 countries, we estimate firm fixed‐effects models complemented by multiple robustness tests. We find a strong positive association between environmental performance and environmental disclosure, indicating that firms with stronger environmental outcomes disclose more detailed information that meets stakeholders' expectations and enhances credibility. This relationship is strengthened by climate governance mechanisms, which increase monitoring and tie disclosure more closely to verifiable performance. In contrast, ESG controversies weaken this association by reducing the credibility of managerial claims and increasing stakeholder skepticism. Our study contributes to the literature by showing that the link between performance and disclosure depends on governance and reputational pressures, with disclosure serving as a credible signal only when backed by strong oversight and a solid reputation. Our findings carry implications for regulators, practitioners, and managers by emphasizing that governance‐based reporting frameworks are key to reliable, authentic disclosure, while controversies can undermine even genuine environmental efforts and hinder progress toward sustainable development goals.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1111/emre.70102first seen 2026-08-16 05:05:14
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