Akademik Məlumat İdarəetmə Sistemi
Business Strategy and the Environment, 2025 (SSCI, Scopus)
We conduct a timely comprehensive review of the existing literature on Task Force on Climate-Related Financial Disclosures (TCFD). Our aim is to provide a synthesis and extension of the current literature as follows: (i) review theoretical (i.e., socio-political, economic-based and market-based) perspectives employed by existing studies, (ii) critique methodological aspects and contextual design of past studies and (iii) discuss empirical findings on the determinants and consequences of TCFD reporting. Consulting three authoritative databases of ‘Scopus’, ‘Web of Science’ and ‘Business Source Complete’, we employ a three-stage systematic literature review (SLR) method with a PRISMA and content analysis strategy to review 230 papers published in 101 high-quality journals from 2016 to January 2025. Our findings are fourfold. First, the majority of the studies reviewed are descriptive in nature, with limited theoretical insights. Second, we find that existing studies are predominantly narrative reports in nature that focus on the extent of TCFD implementation. By contrast, empirical evidence on the determinants and consequences of TCFD reporting is rare. Third, the existing studies have focused on few developed countries, whilst cross-country comparative studies remain limited. Finally, we outline a number of promising opportunities for future research.