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Original Research
Why do shareholders require corporate environmental disclosure?
Submitted: 31 August 2010 | Published: 01 December 2010
About the author(s)
Charl de Villiers, The University of Auckland Business SchoolChris van Staden, The University of Auckland Business School, New Zealand
Full Text:
PDF (92KB)Abstract
• Environmental risks and impacts,
• Environmental policy,
• Measurable environmental targets,
• Performance against targets,
• Environmental costs disclosed separately, and
• An independent environmental audit report.
Shareholders prefer this information in a separate section of the annual report and on company websites. Shareholders want such disclosure to be prescribed by law and/or stock exchange rules. The most popular reason why they want environmental information disclosed, is to hold companies accountable for their environmental stewardship. A high percentage of shareholders also indicate that they want disclosure, because they are concerned about climate change. These findings imply that legislators and standard setters may have to consider changing disclosure laws and standards.
Keywords
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