How Does Management Accounting Shape Organizational Responses to Climate Change Risk? A Systematic Literature Review of Relevant Variables and Mechanisms.

Abstract

Climate change is increasingly recognized as a major source of strategic and 
financial risk for organizations, intensifying the need for accounting systems that 
support climate-related decision-making. While prior studies have extensively 
examined climate risk disclosure and external reporting, the role of management 
accounting in managing climate change risk remains fragmented and 
conceptually underdeveloped. Existing research is scattered across disciplines, 
applies diverse theoretical perspectives, and lacks an integrated explanatory 
framework, resulting in limited understanding of key variables, relational 
mechanisms, and organizational conditions shaping management accounting’s 
contribution to climate risk management. This study aims to identify the core 
variables influencing management accounting responses to climate change risk, 
examine the nature of relationships among these variables, and develop an 
integrated conceptual framework. A systematic literature review was conducted 
following PRISMA guidelines, drawing on reputable English-language 
empirical studies published between 2015 and 2024 and indexed in Scopus, Web 
of Science, and ScienceDirect. Study quality was assessed using the Mixed 
Methods Appraisal Tool (MMAT), and data were analyzed through thematic 
analysis supported by NVivo 14.The review of 48 empirical studies identifies 
ten core variables characterized by direct, mediating, and moderating 
relationships. The findings highlight the strategic and socially embedded role of 
management accounting in climate change risk management and provide a solid 
conceptual foundation for future empirical research