Climate risk disclosure and materiality: Two pressing problems

The Centre for Accounting, Governance and Taxation Research (CAGTR) invites you to attend a Business Links Webinar by Professor Paul Griffin.

Climate risk disclosure and materiality: Two pressing problems

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Event type: Seminars

21 October 2021 from 12.00 pm - 1.00 pm 21 Oct 2021 12:00 pm 21 Oct 2021 1:00 pm

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As countries move ahead on mandatory climate risk disclosure for corporations, two pressing problems remain unresolved: countries reflect widely differing corporate governance systems that would implement an effective global mandate, and regulators offer no clear guidance on why the required information this material to stakeholders. Building on is current research, Professor Griffin states the case for urgent action on these two issues.

Professor Paul Griffin

Professor Paul Griffin is a leading international authority in accounting, financial information, and firms’ disclosures. He has published over 70 articles in leading accounting and finance journals, five research monographs for the Financial Accounting Standards Board, and two case books on U.S. corporate financial reporting.

Paul’s work examines how security markets price the information in financial reports. While his early work concentrated on investors’ understanding of and response to financial measures of performance such as earnings and sales, his later work focuses on qualitative and non-financial measures of firm performance. He works now almost exclusively on how the climate crisis is shaping firms’ disclosure policies and how capital markets price information on firm-related climate impacts.  He mostly finds that capital markets under-price the risks faced by climate change, including the costs and uncertainties of carbon emissions and the threat of increasingly uncertain extreme weather. In his recent publication in Nature: Energy, one of the world’s preeminent science journals, Professor Griffin warns “Despite increased awareness among investors, physical climate risk from extreme weather remains surprisingly unaccounted for in financial markets.”

Paul is currently Distinguished Professor of Management at UC Davis, having previously been at Stanford University’s Graduate School of Business. He earned both his Ph.D. in accounting and his M.A. in operations research and economic theory from The Ohio State University in Columbus, while his undergraduate degree in accounting was earned at Victoria University of Wellington.