Project

CRed- Climate Reporting as Instrument for CO2 Reduktion

Start of Project 10/2018
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End of Project 12/2021

The project „Climate Reporting as Instrument for CO2 Reduction (CRed)” analyses the contribution of climate reporting to CO2 reductions and enables recommendations to improve climate reporting and help implementing a carbon neutral economy. The project is jointly conducted by the Heinrich Heine University Düsseldorf, the Forum Nachhaltige Geldanlagen, the University of Hamburg, the University of Kassel, the WWF Germany, and the Radboud University (Nijmegen, Netherlands). It is divided into three working packages. Working package 1 illuminates the status quo of climate reporting. The analysis focuses whether and how mandatory and voluntary climate reporting is associated with changes in corporate CO2 emissions and with changes in investor reactions to disclosed climate data. Working package 2 takes the investor’s perspective on climate change reporting. The analysis will help to better understand the relevance of climate data in the investment decision-making process with the goal of presenting recommendations on how to improve the use of this data. In working package 3, the project analyses the influence of different designs of climate reporting on managerial decision-making and thus also takes the corporate perspective on climate reporting. 
Scientific publications, policy briefs and management summaries inform the public, corporations and investors about the results.

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Update on the project process

Working package 1 and 2 are largely completed and are currently being finalized. In working package 1, a difference-in-differences approach was used to show that GHG-intensive U.S. companies significantly reduce their GHG emissions after the introduction of the EPA GHGRP compared to less GHG-intensive U.S. companies. Furthermore, it became apparent that GHG-intensive U.S. companies reduce their GHG emissions significantly more than comparable European companies after the introduction of the EPA GHGRP. Working package 2 identified five areas of conflict that hinder the integration of climate information into investment decisions. Recommendations for action were derived from this in order to promote such integration.
In working package 3, data collection has been completed and evaluation has started.

Flagship-Paper

Atalay, N., Conzelmann, A., Hahn, R., & McClellan, A. (2020). Hemmnisse der Integration von E(SG)-Daten in Investmentprozesse. Policy-Brief des BMBF-Projekts „CRed“, Oktober 2020. 
www.climate-reporting.hhu.de/fileadmin/redaktion/Fakultaeten/Wirtschaftswissenschaftliche_Fakultaet/Sustainability/2020-11-05_Policy-Brief-CRED2.pdf.

Schiemann, F., Busch, T., Bassen, A., Klein, C., Jürgens, I., Moslener, U., Wilkens, M., Hahn, R., Reimsbach, D., Pioch, T., Bauckloh, T., Kopp, M., & Tober, C. (2019). Verpflichtende klimabezogene Unternehmens-Berichterstattung als Mittel zur Reduzierung von CO2-Emissionen. Policy-Brief der Wissenschaftsplattform Sustainable Finance und des BMBF-Projekts „CRed“, Februar 2020. 
www.climate-reporting.hhu.de/fileadmin/redaktion/Oeffentliche_Medien/Fakultaeten/Wirtschaftswissenschaftliche_Fakultaet/Sustainability/Policy_Brief_Verpflichtende_klimabezogene_Unternehmens-Berichterstattung.pdf

Bauckloh, T., Klein, C., Pioch, T., & Schiemann, F. (2021): Under Pressure? The Link between Mandatory Climate Reporting and Firms’ Carbon Performance

Conferences

Conzelmann, A.; Hahn, R. (2020). Why action on climate change is delayed: The non-integration of climate data in investment decisions, 36th EGOS Colloquium 2020, 2. – 4. Juli 2020, Hamburg

Bauckloh, T.; Klein, C.; Pioch, T.; Schiemann, F. (2020). Under pressure: The link between mandatory climate reporting and firms’ carbon performance, 36th EGOS Colloquium 2020, 2.-4. Juli 2020, Hamburg

Bauckloh, T.; Klein, C.; Pioch, T.; Schiemann, F. (2020). Under pressure: The link between mandatory climate reporting and firms’ carbon performance, GRASFI 2020 Annual Conference, 8.-11 2020. September, New York

Bauckloh, T.; Klein, C.; Pioch, T.; Schiemann, F. (2019). Under pressure: How firms react to mandatory climate reporting, 23rd Annual FRBC Conference, 3.-5. Juli 2019, Reading

Bauckloh, T.; Klein, C.; Pioch, T.; Schiemann, F. (2020). Under pressure: The link between mandatory climate reporting and firms’ carbon performance, 25th EAERE Annual Conference, 26. Juni 2020, Berlin

Bauckloh, T.; Klein, C.; Pioch, T.; Schiemann, F. (2020). Under pressure? The link between mandatory climate reporting and firms’ carbon performance, First EAA Virtual Annual Congress, 26.-28. Mai 2021

Bauckloh, T.; Klein, C.; Pioch, T.; Schiemann, F. (2019). Under pressure: How firms react to mandatory climate reporting, 31st International Congress on Social and Environmental Accounting, 27.-29. August 2019, St. Andrews