Work

Mind the Gap: Comparing Biodiversity and Climate Disclosures Across the CAC 40, FTSE 100, and S&P 500.

Year: 2026

Type: article

Abstract: This working paper provides a systematic, quantitative comparison of biodiversity and climate disclosure quality across 120 of the world's largest listed companies, drawn from three major stock exchange indices: the CAC 40 (Euronext Paris), the FTSE 100 (London Stock Exchange), and the S&P 500 (New York Stock Exchange). Companies were scored against 14 biodiversity and 7 climate (GHG) disclosure questions derived from an analysis of leading reporting frameworks (ESRS E4, TNFD, GRI 101: Biodiversity 2024, and SBTN). The results reveal a stark and systemic gap: companies disclose roughly two-thirds of assessed climate information (68.5%), yet less than one-twentieth of the equivalent biodiversity information (4.1%) — a 17× difference.

Source: Zenodo (CERN European Organization for Nuclear Research)

DOI: 10.5281/zenodo.20848856

Authors: Houdet, Joel Robert Auguste, Teren, Gabriella, Davids, Liaam

Institution: University of Pretoria

Language: English

Topic: Corporate Social Responsibility Reporting

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Climate action

Open Access status: green

OpenAlex ID: W7165837972

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