Home > Research > Publications & Outputs > Fossil fuel reserves and resources reporting an...

Research

Links

Text available via DOI:

Keywords

View graph of relations

Fossil fuel reserves and resources reporting and unburnable carbon: investigating conflicting accounts

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Published

Standard

Fossil fuel reserves and resources reporting and unburnable carbon: investigating conflicting accounts. / Bebbington, Jan; Schneider, Thomas; Stevenson, Lorna et al.
In: Critical Perspectives on Accounting, Vol. 66, 102083, 31.01.2020.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Bebbington, J, Schneider, T, Stevenson, L & Fox, A 2020, 'Fossil fuel reserves and resources reporting and unburnable carbon: investigating conflicting accounts', Critical Perspectives on Accounting, vol. 66, 102083. https://doi.org/10.1016/j.cpa.2019.04.004

APA

Bebbington, J., Schneider, T., Stevenson, L., & Fox, A. (2020). Fossil fuel reserves and resources reporting and unburnable carbon: investigating conflicting accounts. Critical Perspectives on Accounting, 66, Article 102083. https://doi.org/10.1016/j.cpa.2019.04.004

Vancouver

Bebbington J, Schneider T, Stevenson L, Fox A. Fossil fuel reserves and resources reporting and unburnable carbon: investigating conflicting accounts. Critical Perspectives on Accounting. 2020 Jan 31;66:102083. Epub 2019 May 3. doi: 10.1016/j.cpa.2019.04.004

Author

Bebbington, Jan ; Schneider, Thomas ; Stevenson, Lorna et al. / Fossil fuel reserves and resources reporting and unburnable carbon : investigating conflicting accounts. In: Critical Perspectives on Accounting. 2020 ; Vol. 66.

Bibtex

@article{a2d732dcddf2453d9899b346de2e4d41,
title = "Fossil fuel reserves and resources reporting and unburnable carbon: investigating conflicting accounts",
abstract = "This paper investigates fossil fuel reserves and resources disclosures and how they might change in response to global climate change agreements that seek to limit greenhouse gas emissions. On the one hand, it might be expected that fossil fuel firms will be less valuable if their reserves become {\textquoteleft}unburnable{\textquoteright}. On the other hand, capital markets currently assign a positive value to fossil fuel reserves and resources. A conundrum, therefore, exists. Given that accounting disclosure rules underpin capital market valuation processes, this setting provides an opportunity to interrogate the functionality of accounting during a time of change. To achieve this goal, a multi-methods investigation has been undertaken; combining a survey of accounting disclosure rules for reserves, identification of accounting disclosures made by fuel firms in several country stock markets, and stock market participants{\textquoteright} views on the extent to which unburnable carbon exists. Using Miller and Power (2013) we identify when and how unburnable carbon could be recognized in corporate reporting.",
keywords = "accounting regulation, global climate change, unburnable carbon, stranded assets, Unburnable carbon, Stranded assets, Accounting regulation, Global climate change",
author = "Jan Bebbington and Thomas Schneider and Lorna Stevenson and Alison Fox",
year = "2020",
month = jan,
day = "31",
doi = "10.1016/j.cpa.2019.04.004",
language = "English",
volume = "66",
journal = "Critical Perspectives on Accounting",
issn = "1045-2354",
publisher = "Academic Press Inc.",

}

RIS

TY - JOUR

T1 - Fossil fuel reserves and resources reporting and unburnable carbon

T2 - investigating conflicting accounts

AU - Bebbington, Jan

AU - Schneider, Thomas

AU - Stevenson, Lorna

AU - Fox, Alison

PY - 2020/1/31

Y1 - 2020/1/31

N2 - This paper investigates fossil fuel reserves and resources disclosures and how they might change in response to global climate change agreements that seek to limit greenhouse gas emissions. On the one hand, it might be expected that fossil fuel firms will be less valuable if their reserves become ‘unburnable’. On the other hand, capital markets currently assign a positive value to fossil fuel reserves and resources. A conundrum, therefore, exists. Given that accounting disclosure rules underpin capital market valuation processes, this setting provides an opportunity to interrogate the functionality of accounting during a time of change. To achieve this goal, a multi-methods investigation has been undertaken; combining a survey of accounting disclosure rules for reserves, identification of accounting disclosures made by fuel firms in several country stock markets, and stock market participants’ views on the extent to which unburnable carbon exists. Using Miller and Power (2013) we identify when and how unburnable carbon could be recognized in corporate reporting.

AB - This paper investigates fossil fuel reserves and resources disclosures and how they might change in response to global climate change agreements that seek to limit greenhouse gas emissions. On the one hand, it might be expected that fossil fuel firms will be less valuable if their reserves become ‘unburnable’. On the other hand, capital markets currently assign a positive value to fossil fuel reserves and resources. A conundrum, therefore, exists. Given that accounting disclosure rules underpin capital market valuation processes, this setting provides an opportunity to interrogate the functionality of accounting during a time of change. To achieve this goal, a multi-methods investigation has been undertaken; combining a survey of accounting disclosure rules for reserves, identification of accounting disclosures made by fuel firms in several country stock markets, and stock market participants’ views on the extent to which unburnable carbon exists. Using Miller and Power (2013) we identify when and how unburnable carbon could be recognized in corporate reporting.

KW - accounting regulation

KW - global climate change

KW - unburnable carbon

KW - stranded assets

KW - Unburnable carbon

KW - Stranded assets

KW - Accounting regulation

KW - Global climate change

U2 - 10.1016/j.cpa.2019.04.004

DO - 10.1016/j.cpa.2019.04.004

M3 - Journal article

VL - 66

JO - Critical Perspectives on Accounting

JF - Critical Perspectives on Accounting

SN - 1045-2354

M1 - 102083

ER -