Stakeholder pressure to mitigate human-induced environmental degradation is driving companies to prioritize climate risk disclosures. This systematic review examines the factors influencing corporate disclosures of climate-related risk. Findings indicate an increase in climate-related disclosure practices over time; however, companies tend to report non-critical risk categories and may engage in greenwashing, despite global governmental pressure for mandatory disclosures. Corporate governance structures, such as company size, board size, and board effectiveness, along with financial performance, country of origin, and institutional investor pressure, significantly affect disclosure decisions. The literature assesses various firm-level factors, including audit fees, firm value, performance, credit default swaps, initial public offerings, distance to default, mergers and acquisitions, and information asymmetry, as well as the economic impacts of climate risk disclosure, such as accounting conservatism and property prices in flood-prone areas. A bibliometric analysis using Biblioshiny has been conducted to visualize the development of climate risk disclosure research from 1980 to 2023. The systematic review identifies prevalent themes and patterns in the literature. This research contributes to the ongoing discussions on climate risk disclosure by highlighting areas for improvement, offering valuable insights for businesses, policymakers, and investors.