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Climate change, ESG criteria and recent regulation: challenges and opportunities

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dc.contributor.authorOliver Yébenes, Mónica
dc.date.accessioned2025-02-24T12:12:07Z
dc.date.available2025-02-24T12:12:07Z
dc.date.issued2024-03-14
dc.descriptionEste es el manuscrito aceptado del artículo. La versión registrada fue publicada por primera vez en Eurasian Econ Rev 14, 87–120 (2024), está disponible en línea en el sitio web del editor: Springer; https://doi.org/10.1007/s40822-023-00251-x This is the accepted manuscript of the article. The registered version was first published in Eurasian Econ Rev 14, 87–120 (2024), it is available online at the publisher's website: Springer; https://doi.org/10.1007/s40822-023-00251-x
dc.description.abstractThe application of environmental, social and governance (ESG) criteria has now become a more than essential requirement in the financial world. Therefore, it is necessary to understand, select and assess the risks of these ESG criteria and evaluate how they can impact a product or investment decision. Thus, the main objective of this article is to analyze ESG (Environmental, Social and Governance) indicators and their potential impacts in the framework of non-financial information. Current regulatory developments, such as the European Corporate Sustainability Reporting Directive (CSRD), are pushing to make ESG indicators (within this triple perspective: social, environmental and governance risks) a key set of information to be used for reporters and users of information. This article will study in further detail the main implications these regulations will have in how corporations will reflect social and ecological footprint information in their external reporting. Since these ESG indicators could have relevant financial impacts on the financial drivers of a corporation, stakeholders will be concerned on how enterprises are dealing with these ESG risks. Therefore, this ESG data will increase transparency and would mean a better understanding on how companies and investors have a sustainability compromise to evolve to a neutral carbon economy. In order to understand a company’s commitment with these ESG criteria, stakeholders would have to assess different aspects of the information reported. In this sense, this article will focus on how credit rating agencies incorporate these risks in their assessments. Credit rating agencies are becoming important actors in the sustainability criteria, as they incorporate ESG risks in their assessments, transmitting the importance of these indicators to investors and to markets. This study will look into the different time horizons between financial profitability and sustainability indicators. Current tendency and huge demand of non-financial indicators do not have the same profoundness, framework and tradition as financial indicators. This could lead to a situation in which it would be necessary a period to adapt both worlds and make them join and connect together in a sense in which one need the other one.en
dc.description.versionversión final
dc.identifier.citationOliver Yébenes, M. Climate change, ESG criteria and recent regulation: challenges and opportunities. Eurasian Econ Rev 14, 87–120 (2024). https://doi.org/10.1007/s40822-023-00251-x
dc.identifier.doihttps://doi.org/10.1007/s40822-023-00251-x
dc.identifier.issn1309-422X; eISSN: 2147-429X
dc.identifier.urihttps://hdl.handle.net/20.500.14468/25965
dc.journal.titleEurasian Economic Review
dc.journal.volume14
dc.language.isoen
dc.page.final120
dc.page.initial87
dc.publisherSpringer
dc.relation.centerFacultad de Ciencias Económicas y Empresariales
dc.relation.departmentEconomía de la Empresa y Contabilidad
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/deed.es
dc.subject53 Ciencias Económicas
dc.subject.keywordsClimate changeen
dc.subject.keywordsEnvironmental sustainabilityen
dc.subject.keywordsESG indicatorsen
dc.subject.keywordsNon- financial informationen
dc.subject.keywordsCorporate governanceen
dc.subject.keywordsEuropean Unionen
dc.titleClimate change, ESG criteria and recent regulation: challenges and opportunitieses
dc.typeartículoes
dc.typejournal articleen
dspace.entity.typePublication
relation.isAuthorOfPublication0ee10709-aae5-41ed-b4a3-60b64da001d6
relation.isAuthorOfPublication.latestForDiscovery0ee10709-aae5-41ed-b4a3-60b64da001d6
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