Divulgação dos riscos associados à mudança climática : uma análise no conteúdo dos relatórios de empresas que integram o ISE

Abstract

The objective of this research was to verify the level of disclosure of the risks associated with climate change in the reports of companies of the corporate sustainability index stock (ISE) of (BM&FBOVESPA). To acomplish this objective a content analysis was performed in the Environmental or Sustainability Reports, Financial Statements, and in the Management Report of the year 2008, from companies that have remained members of ISE, for three consecutive years, in the period from 2006 to 2008. The level of disclosure was assessed on the basis of the types and characteristics of disclosure: (declarative, quantitative, monetary , monetary and quantitative). Understanding that is relevant not only to investigate the level of risk disclosure, other specific objectives were established related to risk management, mitigating actions and opportunities related to climate change disclosure. The results showed that in the sustainability reports, for the period under examination and, in the set of categories analysed, a total of 228 disclosures for a total maximum possible of 322, i.e. 65%. In the Management Report this percentage is reduced to 27% and in the explanatory notes to 6%. In the Sustainability reports, of 14 companies analysed, 4 have a disclosure index above 80%, 7 companies showed indexes between 50 and 80% and 3 between 30 to 48%. The category with the largest index of disclosure was the strategic analysis of climatic risks whose index reached 84%, the ISO 14000 certification subcategory was disclosed in 100% of the companies. Although most of the information disclosed be as declarative type, the category Mitigating Actions presented the largest monetary quantitative information index, the subcategory Environmental Investments had its values available for 100% of the companies. It was also found in the category Opportunities, a companies' concern to disseminate information on new products (57%), alternative energy sources (86%) and information about ecoefficiency (100%).