Climate Finance and Accountability: A Comprehensive And Holistic Approach

This book offers a comprehensive, practice-oriented examination of the emerging field of climate finance, with a particular focus on implementing the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. It explores how companies assess, manage, disclose, and respond to climate-related risks and opportunities. Through eight chapters, it provides an evidence-based analysis of disclosure practices, market pricing of climate risk, ESG integration strategies, and regulatory developments across various jurisdictions, drawing on international research and case studies.

The 2018 IPCC Special Report emphasized that limiting global warming to 1.5°C is vital to avoid irreversible environmental and economic impacts. Climate change risks, both physical and regulatory, pose significant threats to corporations, investors, and global financial stability. Extreme weather events disrupt supply chains and asset values, while carbon-intensive industries face business viability challenges.

In response, the TCFD issued recommendations in 2017 to guide firms in providing transparent climate-related financial information. While these have gained support from investors and regulators — such as Canada's TCFD-aligned disclosure under the LEEFF — adoption remains inconsistent, and integrating climate risk into financial decision-making is still evolving.

The book aims to enhance the quality and comparability of climate-related disclosures and support informed, sustainable investment decisions.

Fatma Mrad is an assistant professor of Finance and the Head of the Financial Engineering and Sustainable Finance Program at Clermont School of Business France. Professor Mrad holds a PhD in finance from the École Supérieure de Commerce at the University of Manouba in Tunisia, where she was a member of the Research Center for Innovative Management, Accounting, and Finance. She has also conducted research visits at renowned institutions, such as the Telfer School of Management at the University of Ottawa, where she was appointed a research fellow from 2017 to 2020. In her research, Professor Mrad specializes in addressing complex issues related to corporate finance, financial decision-making, and environmental sustainability. Her work has been presented at numerous international conferences and published in leading scientific journals, such as Finance Research Letters and Research in International Business and Finance. Professor MRAD has also been the lead organizer of several international conferences and workshops. Beyond her research activities, she possesses a wealth of teaching experience. at both undergraduate and graduate levels, particularly in corporate finance and financial analysis.

Samir Saadi is the Vice-Dean of Research and a Full Professor of Finance at the Paris School of Business (PSB), France. Before joining PSB, he was a Full Professor and Ian Telfer Fellow in Behavioural Finance at the University of Ottawa. He has also been a Visiting Scholar at prestigious research institutions, including the Stern School of Business at New York University and INSEAD in France. Professor Saadi's research interests encompass corporate social responsibility, biodiversity, behavioral finance, corporate governance, and fintech. He has published over 70 papers in leading refereed journals, including those featured in the Financial Times' top 50, such as the Journal of Business Ethics and Contemporary Accounting Research. He is the recipient of multiple best paper awards and honors from, among others, the American Finance Association, the Europlace Institute of Finance, and The Social Sciences and Humanities Research Council. Professor Saadi earned his PhD in Financial Economics from the Smith School of Business at Queen's University, Canada.

Syrine Sassi is an Associate Professor at the Telfer School of Management, University of Ottawa. Before joining The University of Ottawa, she was an Associate Professor of Finance at Paris School of Business. She was a Visiting Scholar at other research-intensive institutions such as Hong Kong Polytechnic University. She also held faculty position at South Champagne Business School. Professor Sassi's research work explores complex issues in corporate financial management and governance, with a particular focus on the impact of regulatory environments and product market competition on financial decisions and environmental sustainability. Her work has been presented in a wide range of international conferences, earning recognition with several awards. Her research papers are published in refereed journals including the Journal of Corporate Finance, Journal of Financial Research, European Financial Management, Journal of Management and Governance, Finance Research Letters, and Global Finance Journal. In addition to her research, Professor Sassi has extensive teaching experience at both the undergraduate and graduate levels. She covers a variety of topics including Corporate Finance and Financial Analysis, among other related topics.