Environmental crises, financial markets and corporate environmental communication:.

Summary Environmental crises have been the subject of numerous academic studies seeking to understand their impact on the stock market value and communication of companies. These works take into account industrial accidents without questioning their characteristics and by considering a priori that they constitute environmental crises. Based on this observation, this paper proposes a method for evaluating industrial accidents and environmental crises structured around five elements that we illustrate through the case of the Total group. The first four elements are based on the classification established by the French Ministry of the Environment. The fifth element seeks to account for the social pressure exerted on companies involved in an industrial accident by mobilizing stakeholder theory. This evaluation method opens up perspectives for revisiting research on the relationships between environmental crises, financial markets and corporate environmental communication.