Navigating Uncharted Territory: Exploring the Drivers and Challenges of TCFD Reporting in South Africa

Simple item page
dc.contributor.advisorAlhassan, Abdul Latif
dc.contributor.authorVermaas, Rupert
dc.date.accessioned2025-04-03T12:49:33Z
dc.date.available2025-04-03T12:49:33Z
dc.date.issued2024
dc.date.updated2025-04-03T12:48:12Z
dc.description.abstractClimate-related risks and opportunities have a significant impact on companies' financial prospects. Publishing reports aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations plays a crucial role in aiding investor decision-making by ensuring that companies assess and provide fair presentation of material climate-related risks and opportunities. Understanding the drivers and challenges of TCFD reporting is vital to promoting its widespread adoption. However, there is a notable dearth of studies investigating the drivers and challenges of sustainability reporting in general, and TCFD reporting specifically, within the context of emerging markets like South Africa. Therefore, the objective of this study is to explore the drivers and challenges of TCFD reporting in South Africa by employing the legitimacy and stakeholder theories as a lens for analysis. The study used the conceptual model of influences around integrated reporting as a framework to answer the research question. This exploratory study employed a qualitative research approach by using semi-structured interviews to collect data from 7 experienced report preparers in South Africa. The findings indicate that TCFD reporting in South Africa is driven by institutional investors, activist shareholders, public commitments, competitors, and working groups that provide a collaborative space for knowledge sharing and skills development. Additionally, the study identifies data collection, cost and time, skills, confidentiality and security, scenario analysis, and greenwashing as significant challenges related to TCFD reporting. The findings of this study carry significant importance as they contribute to the literature on the drivers and challenges of climate-related disclosures in South Africa and other comparable emerging markets. Moreover, the adapted conceptual model developed in this study paves the way for exploring additional research questions on TCFD reporting. In addition to enriching the academic understanding, this study intends to provide valuable practical recommendations for policymakers and report preparers to encourage greater adoption of TCFD reporting in South Africa
dc.identifier.apacitationVermaas, R. (2024). <i>Navigating Uncharted Territory: Exploring the Drivers and Challenges of TCFD Reporting in South Africa</i>. (). University of Cape Town ,Faculty of Commerce ,Graduate School of Business (GSB). Retrieved from http://hdl.handle.net/11427/41352en_ZA
dc.identifier.chicagocitationVermaas, Rupert. <i>"Navigating Uncharted Territory: Exploring the Drivers and Challenges of TCFD Reporting in South Africa."</i> ., University of Cape Town ,Faculty of Commerce ,Graduate School of Business (GSB), 2024. http://hdl.handle.net/11427/41352en_ZA
dc.identifier.citationVermaas, R. 2024. Navigating Uncharted Territory: Exploring the Drivers and Challenges of TCFD Reporting in South Africa. . University of Cape Town ,Faculty of Commerce ,Graduate School of Business (GSB). http://hdl.handle.net/11427/41352en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Vermaas, Rupert AB - Climate-related risks and opportunities have a significant impact on companies' financial prospects. Publishing reports aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations plays a crucial role in aiding investor decision-making by ensuring that companies assess and provide fair presentation of material climate-related risks and opportunities. Understanding the drivers and challenges of TCFD reporting is vital to promoting its widespread adoption. However, there is a notable dearth of studies investigating the drivers and challenges of sustainability reporting in general, and TCFD reporting specifically, within the context of emerging markets like South Africa. Therefore, the objective of this study is to explore the drivers and challenges of TCFD reporting in South Africa by employing the legitimacy and stakeholder theories as a lens for analysis. The study used the conceptual model of influences around integrated reporting as a framework to answer the research question. This exploratory study employed a qualitative research approach by using semi-structured interviews to collect data from 7 experienced report preparers in South Africa. The findings indicate that TCFD reporting in South Africa is driven by institutional investors, activist shareholders, public commitments, competitors, and working groups that provide a collaborative space for knowledge sharing and skills development. Additionally, the study identifies data collection, cost and time, skills, confidentiality and security, scenario analysis, and greenwashing as significant challenges related to TCFD reporting. The findings of this study carry significant importance as they contribute to the literature on the drivers and challenges of climate-related disclosures in South Africa and other comparable emerging markets. Moreover, the adapted conceptual model developed in this study paves the way for exploring additional research questions on TCFD reporting. In addition to enriching the academic understanding, this study intends to provide valuable practical recommendations for policymakers and report preparers to encourage greater adoption of TCFD reporting in South Africa DA - 2024 DB - OpenUCT DP - University of Cape Town KW - Development Finance LK - https://open.uct.ac.za PB - University of Cape Town PY - 2024 T1 - Navigating Uncharted Territory: Exploring the Drivers and Challenges of TCFD Reporting in South Africa TI - Navigating Uncharted Territory: Exploring the Drivers and Challenges of TCFD Reporting in South Africa UR - http://hdl.handle.net/11427/41352 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/41352
dc.identifier.vancouvercitationVermaas R. Navigating Uncharted Territory: Exploring the Drivers and Challenges of TCFD Reporting in South Africa. []. University of Cape Town ,Faculty of Commerce ,Graduate School of Business (GSB), 2024 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/41352en_ZA
dc.language.isoen
dc.language.rfc3066ENG
dc.publisher.departmentGraduate School of Business (GSB)
dc.publisher.facultyFaculty of Commerce
dc.publisher.institutionUniversity of Cape Town
dc.subjectDevelopment Finance
dc.titleNavigating Uncharted Territory: Exploring the Drivers and Challenges of TCFD Reporting in South Africa
dc.typeThesis / Dissertation
dc.type.qualificationlevelMasters
dc.type.qualificationlevelMBA
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
thesis_com_2024_vermaas rupert.pdf
Size:
1.87 MB
Format:
Adobe Portable Document Format
Description:
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
1.72 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
Masters