Antecedents and Consequences of Climate Change Disclosure and Performance in the Context of Sustainable Development: A Systematic Literature Review

Abstract

ABSTRACT Despite the growing importance of corporate responses to climate change within sustainable business strategy and environmental governance, the extant literature on corporate climate change disclosure and performance (CCDP) remains fragmented and unevenly developed. Existing reviews have either focused narrowly on disclosure practices or provided outdated frameworks, limiting understanding of how governance, firm‐level characteristics, and institutional environments shape climate‐related disclosure, performance, and management outcomes. To address this gap, we conduct a systematic literature review combining bibliometric and content analysis of 548 peer‐reviewed articles published between 2000 and 2025 extracted from Scopus and Web of Science databases. Our analysis reveals a bifurcated research examining the following: (1) antecedents of carbon and climate change disclosure (CCCD) and carbon and climate change performance and management (CCCPM), including corporate governance mechanisms, firm‐specific attributes, stakeholder pressures, and policy contexts; (2) the consequences of CCCD and CCCPM, encompassing a broad set of financial, market‐based, accounting, innovation, and environmental outcomes. Building on these insights, we develop a novel integrative framework that distinguishes between CCCD and CCCPM, while mapping their multi‐level determinants and diverse firm outcomes. This framework advances theory in environmental accountability, corporate governance, and business strategy by consolidating previously siloed research and identifying critical gaps for future inquiry. The review offers implications for policymakers and practitioners to enhance transparency, credibility, and effectiveness of corporate climate‐related strategies and disclosures.