| dc.description.abstract | Due to the fact that climate change has become one of the biggest global challenges, it not only affects the environment and ecosystems, but also has a profound impact on various economic sectors. As one of the important pillars of the global economy, the financial industry is inevitably affected by climate change, and the risks facing the financial industry have become more complex and unpredictable. Therefore, studying the impact of climate change on the financial industry is of practical significance.
Currently, TCFD has become the primary standard for measuring climate risks and opportunities in the financial industry. Although financial institutions prepare TCFD reports based on this standard, there are still significant differences in the level of disclosure in TCFD reports. Therefore, this study aims to explore the disclosure level of TCFD reports in financial holding companies, with the 2021 reports of First Financial Holding Co., Ltd. and Cathay Financial Holding Co., Ltd. as examples. The results show that First Financial Holding has a higher overall level of disclosure than Cathay Financial Holding. Specifically, First Financial Holding has a higher level of disclosure in the governance, Metrics and Targets than Cathay Financial Holding, while Cathay Financial Holding has a higher level of disclosure in the strategy and risk management category than First Financial Holding. The difference in disclosure level between the two companies may be due to factors such as differences in corporate governance structure, information disclosure pressure, and operational direction.
The results of this study aim to provide a reference for financial industry practitioners and stakeholders as an information basis for their response to climate change, and to communicate the achievements of the financial industry in addressing climate change. | en_US |