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== History ==
== History ==
Corporate sustainability reporting has a history going back to environmental reporting.
Corporate ''sustainability reporting'' has a history going back to environmental reporting. The first [[environmental reports]] were published in the late 1980s by companies in the [[chemical industry]] which had serious [[image problem]]s. The other group of early reporters was a group of committed small and medium-sized businesses with very advanced environmental management systems. Additionally, the [[tobacco industry]] adopted such reporting much earlier than the rest of the corporate world, in an attempt to attract new investors at a time when ethical investing was becoming increasingly popular.


This practice is rooted in the multidimensional concept of [[Corporate social responsibility|CSR]] and in the stakeholders' vision of corporate governance in Europe, which insists on the importance of understanding the company as an entity with relationships with its environment. According to [[R. Edward Freeman|Freeman]]'s theory<ref>Freeman, R.E. (1984) ''Strategic Management : a Stakeholder Approach''. Boston : Pitman.</ref>, the company's shareholders are no longer the only ones to be considered, but also its employees, customers, suppliers, local communities, governments: the society in the broadest sense.
⚫
Non-financial reporting, such as sustainability and [[Corporate social responsibility|CSR]] reporting, is a fairly recent trend which has expanded over the last twenty years. Many companies now produce an annual sustainability report and there are a wide array of ratings and standards around. There are a variety of reasons that companies choose to produce these reports, but at their core they are intended to be "vessels of transparency and accountability." Often they also intended to improve internal processes, engage stakeholders and persuade investors.<ref>{{cite web|author=Rosie Bristow for the Guardian Professional Network |url=https://www.theguardian.com/sustainable-business/online-panel-discussion-sustainability-reporting |title=Online discussion: sustainability reporting &#124; Guardian Sustainable Business |date=18 April 2011 |publisher=theguardian.com |access-date=2014-08-27}}</ref>


With the emergence of this approach, the first response of many companies has been to expand the communication of their achievements in terms of social responsibility.<ref name=":0">{{Cite journal |last=Quynh Lien |first=Duong |date=2005-01-02 |title=La responsabilité sociale de l’entreprise, pourquoi et comment ça se parle? |url=https://journals.openedition.org/communicationorganisation/3269 |journal=Communication et organisation. Revue scientifique francophone en Communication organisationnelle |language=fr |issue=26 |pages=26–43 |doi=10.4000/communicationorganisation.3269 |issn=1168-5549}}</ref> Information disclosed by companies themselves are the first indicators that can be received by the public in order to verify whether the decisions taken meet the announced commitments, as well as its own interests.<ref name=":0" />
An issue in sustainability reporting is whether and how much data related to [[environmental, social and corporate governance]] practices and impacts must be disclosed.


The obligation of accountability is therefore often assimilated to reporting and is addressed, in the first place, to the company's stakeholders.<ref>{{Cite journal |last=Boyer-Allirol |first=Béatrice |date=2013-12-28 |title=Faut-il mieux réglementer le reporting extrafinancier ? |url=http://rfg.revuesonline.com/article.jsp?articleId=19126 |journal=Revue française de gestion |volume=39 |issue=237 |pages=73–95 |doi=10.3166/rfg.237.73-95}}</ref>This means that both shareholders and society in general are concerned, while also taking future generations into account.<ref>Ceccarelli, A., Gendron, C. & Morin-Esteves, C. (2016). ''Les rapports de développement durable: Dialogues autour de la définition et de la mesure de la performance extra financière des entreprises'' [Congrés]. RIODD, Saint-Étienne. https://hal.archives-ouvertes.fr/hal-01349994/document</ref>
⚫
As a matter of law, in the United States, the [[Materiality (law)|materiality]] principles controls whether a publicly traded corporation must disclose certain information, that is: "a fact is material if there is a substantial likelihood that the ... fact would have been viewed by a reasonable investor as having significantly altered the ‘total mix’ of information available."<ref>{{Cite web|url=https://en.wikipedia.org/wiki/TSC_Industries,_Inc._v._Northway,_Inc.|title=TSC Industries, Inc. v. Northway, Inc., 426 U.S. 438, 449 (1976).}}</ref>{{Circular reference|date=May 2020}}


Recently, there has been a growing interest in communications relating to the extra-financial aspects of organizations: [[Corporate social responsibility|CSR]] performance is now one of the factors considered in investment decisions.<ref>{{Cite journal |last=Durand |first=Rodolphe |last2=Paugam |first2=Luc |last3=Stolowy |first3=Hervé |date=2019-05-09 |title=Do investors actually value sustainability indices? Replication, development, and new evidence on CSR visibility |url=https://doi.org/10.1002/smj.3035 |journal=Strategic Management Journal |volume=40 |issue=9 |pages=1471–1490 |doi=10.1002/smj.3035 |issn=0143-2095}}</ref> The practice of sustainability reporting has existed in a scattered way since the 1980s but has really expanded over the last twenty years.
⚫
In this case, some authors have examined and applied several factors (including the percentages of managed investment assets that are screened for ESG criteria, plus the fact that over 90% of large publicly traded companies publish ESG data) and concluded that ESG data qualifies as being material.<ref>{{Cite journal|last1=Adam|first1=Sulkowski|last2=Waddock|first2=Sandra|title=Beyond Sustainability Reporting: Integrated Reporting Is Practiced, Required & More Would Be Better|url=https://www.researchgate.net/publication/272244991|journal=University of St. Thomas Law Review|volume=10|pages=1060–1123|via=ResearchGate}}</ref> It has also been suggested that other organizations that issue securities may also be well-advised to also engage in sustainability reporting.<ref>{{Cite journal|last=Sulkowski|first=Adam|date=2016|title=City Sustainability Reporting: An Emerging and Desirable Legal Necessity|url=https://www.researchgate.net/publication/303818652|journal=Pace Environmental Law Review|volume=33|pages=278–299|via=Research Gate}}</ref>


This is notably due to the global awareness of the ecological crisis and the common interest in [[sustainable development]], but also to the numerous corporate governance scandals of large companies ([[Enron scandal]], [[Parmalat|Parmalat Financial Fraud]]…) over the last two decades or the [[Financial crisis of 2007–2008|financial crisis of 2008]].
In 2015, the United Nations set 17 Sustainable Development Goals (SDG) and [[Sustainable_Development_Goal_12|SDG 12]], Target 12.6 specifically encourages "companies to adopt sustainable practices and sustainability reporting".<ref>United Nations (2017) Resolution adopted by the General Assembly on 6 July 2017, [[:File:A RES 71 313 E.pdf|Work of the Statistical Commission pertaining to the 2030 Agenda for Sustainable Development]] ([https://undocs.org/A/RES/71/313 A/RES/71/313])</ref>

In addition to eroding stakeholder trust, these circumstances have increased their activism for broader transparency and ensuring better information from companies.<ref>{{Citation |last=Aluchna |first=Maria |title=Non-financial Reporting. Conceptual Framework, Regulation and Practice |date=2019 |url=https://doi.org/10.1007/978-3-030-00440-8_14 |work=Corporate Social Responsibility in Poland: Strategies, Opportunities and Challenges |pages=213–236 |editor-last=Długopolska-Mikonowicz |editor-first=Aneta |place=Cham |publisher=Springer International Publishing |language=en |doi=10.1007/978-3-030-00440-8_14 |isbn=978-3-030-00440-8 |access-date=2022-03-25 |last2=Roszkowska-Menkes |first2=Maria |editor2-last=Przytuła |editor2-first=Sylwia |editor3-last=Stehr |editor3-first=Christopher}}</ref><ref>{{Cite journal |last=Amran |first=Azlan |last2=Keat Ooi |first2=Say |date=2014-06-03 |title=Sustainability reporting: meeting stakeholder demands |url=http://dx.doi.org/10.1108/sd-03-2014-0035 |journal=Strategic Direction |volume=30 |issue=7 |pages=38–41 |doi=10.1108/sd-03-2014-0035 |issn=0258-0543}}</ref><ref name=":3">{{Cite journal |last=Uyar |first=Ali |date=2016-04-15 |title=Evolution of Corporate Reporting and Emerging Trends |url=http://dx.doi.org/10.1002/jcaf.22157 |journal=Journal of Corporate Accounting & Finance |volume=27 |issue=4 |pages=27–30 |doi=10.1002/jcaf.22157 |issn=1044-8136}}</ref>

In this context, the need for sustainability reporting has gradually emerged. It was carried out by companies initially on a voluntary basis, with the aim of mitigating some of the skepticism of users of financial reports and restoring the trust of stakeholders by expressing a willingness to behave responsibly.<ref name=":1">Persais E. (2003). Le rapport de développement durable (ou stakeholders’ report) : un outil pour une gouvernance sociétale de l’entreprise ? ''Développement durable et entreprise, Actes de la Journée AIMS, ESSCA.''</ref><ref name=":3" />

The publication of non-financial reports thus began in an ad hoc and rather anecdotal manner, confined to a few subjects deemed worthy of interest by the companies themselves. A copy effect, combined with latent pressure from stakeholders, subsequently contributed to the acceptance and renewal of this approach<ref name=":1" />, which gradually became more structured. Today, these reports are common: 93% of the world's two hundred and fifty largest companies publish them annually.<ref name=":42">KPMG. (2020). The time has come : the KPMG Survey of Sustainability Reporting 2020. <nowiki>https://assets.kpmg/content/dam/kpmg/xx/pdf/2020/11/the-time-</nowiki> has-come.pdf</ref> Indeed, [[Corporate social responsibility|CSR]] and its concrete implementation are increasingly valued by public opinion.<ref>Lafont, A., Pouget, J. & Rodhain, A. (2017). RSE et réseau des parties prenantes : une norme informationnelle peut-elle émerger ?. ''Revue de l’organisation responsable, 12''(2), 41- 55</ref>

This interest has led to the emergence of reference frameworks, guidelines, standards and regulations in this area. In addition to helping and guiding companies, this range of resources has also allowed for a certain standardization of both the information disclosed and the method of communication.

The objectives of developing guidelines are to provide companies with a concrete methodology and to make the published data understandable, credible and comparable for their users.<ref>{{Cite book |last=Capron |first=Michel |url=http://dx.doi.org/10.3917/dec.capro.2016.01 |title=La responsabilité sociale d’entreprise |last2=Quairel-Lanoizelée |first2=Françoise |date=2016-08-25 |publisher=La Découverte |isbn=978-2-7071-9064-2 |series=Repères}}</ref> Reporting guidelines are issued either by private non-governmental organizations (whose adoption by companies is therefore voluntary), or more recently by governments on the basis of mandatory standards. Indeed, for some companies, this disclosure has been made mandatory (''see next section''). In line with these developments, some consulting firms have started [[Environmental, social and corporate governance|ESG]] advisory services and help companies to draft their sustainability reports.

⚫
There are a variety of reasons that companies choose to produce these reports, but at their core they are intended to be "''vessels of transparency and accountability''" Often, they are also intended to improve internal processes, engage stakeholders and persuade investors.<ref>Rosie Bristow for the Guardian Professional Network (18 April 2011). "Online discussion: sustainability reporting | Guardian Sustainable Business". theguardian.com.</ref>

Improved disclosure of non-financial information can have other benefits for reporting companies. In particular, the adoption of sustainability reporting has been found to have a positive impact on company performance and value. [[OECD]] suggests that companies showing sustainable performance on [[Environmental, social and corporate governance|ESG criteria]] and communicating effectively about them seem to enjoy better financial performance. <ref>{{Cite book |last=OECD. |first=Publishing, |url=http://worldcat.org/oclc/1010678849 |title=Annual Report on the OECD Guidelines for Multinational Enterprises 2011 : a New Agenda for the Future. |date=2012 |publisher=Organisation for Economic Cooperation and Development (OECD) |isbn=92-64-11994-9 |oclc=1010678849}}</ref><ref>Baron, R. (2014). The evolution of corporate reporting for integrated performance, background paper for the 30th Round Table on Sustainable Development. https://www.oecd.org/sd-roundtable/papersandpublications/The%20Evolution%20of%20Corporate%20Reporting%20for%20Integrated%20Performance.pdf</ref>These companies generally benefit from a more diversified investor base, for example through their inclusion in actively managed investment portfolios or sustainability indices.<ref>European Commission. (2019). Communication from the Commission : ''Guidelines on non-financial reporting: Supplement on reporting climate-related information'', C 209/01. https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX%3A52019XC0620(01)&fbclid=IwAR0XnSvkEYyjV_2GqN0CxZI8phiK2wajPAzLy5Mw9VW-xRZ07f8X3uHOqsY</ref> In addition, companies that effectively communicate their non-financial engagements and have a high performance in this area are more likely to attract and retain talents thanks to their greater social credibility, as this stimulates employees' motivation and meets their values.<ref>Henisz W., Koller T., Nuttall R. (2019) Five Ways that ESG creates value. McKinsey Quarterly. https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/five-ways-that-esg-creates-value</ref>

⚫
As a matter of law, in the United States, the [[Materiality (auditing)|materiality principle]] controls whether a publicly traded corporation must disclose certain information, that is: "''a fact is material if there is a substantial likelihood that the fact would have been viewed by a reasonable investor as having significantly altered the ‘total mix’ of information available''."<ref>{{Citation |title=TSC Industries, Inc. v. Northway, Inc. |date=2022-03-10 |url=https://en.wikipedia.org/w/index.php?title=TSC_Industries,_Inc._v._Northway,_Inc.&oldid=1076296267 |work=Wikipedia |language=en |access-date=2022-03-25}}</ref>

⚫
In this case, some authors have examined and applied several factors (including the percentages of managed investment assets that are screened for [[Environmental, social and corporate governance|ESG criteria]], plus the fact that over 90% of large publicly traded companies publish [[Environmental, social and corporate governance|ESG]] data) and concluded that [[Environmental, social and corporate governance|ESG]] data qualifies as being material.<ref>{{Cite journal |last=Sulkowski |first=Adam J. |last2=Waddock |first2=Sandra |date=2014-06-18 |title=Beyond Sustainability Reporting: Integrated Reporting is Practiced, Required & More Would Be Better |url=https://papers.ssrn.com/abstract=2456328 |language=en |location=Rochester, NY |doi=10.2139/ssrn.2456328}}</ref> It has also been suggested that other organizations that issue securities may also be well-advised to also engage in sustainability reporting.<ref>{{Cite journal |last=Sulkowski |first=Adam J. |date=2016 |title=City Sustainability Reporting: An Emerging and Desirable Legal Necessity |url=http://dx.doi.org/10.2139/ssrn.2789829 |journal=SSRN Electronic Journal |doi=10.2139/ssrn.2789829 |issn=1556-5068}}</ref>


== Legal Framework ==
== Legal Framework ==

Revision as of 14:16, 29 March 2022

Sustainability reporting refers to the disclosure, whether voluntary, solicited, or required, of non-financial performance information to outsiders of the organization.[1] Generally speaking, sustainability reporting deals with information concerning environmental, social, economic and governance issues in the broadest sense. These are the criteria gathered under the acronym ESG (Environmental, social and corporate governance).

The introduction of these non-financial information in published reports is seen as a step forward in corporate communication and considered as an effective way to increase corporate engagement and transparency.[2]

Sustainability reports help companies build consumer confidence and improve corporate reputations through social responsibility programs and transparent risk management.[3] This communication aims at giving stakeholders broader access to relevant information outside the financial sphere that also influences the company's performance.[4]

In the EU, the mandatory practice of sustainability reporting for certain companies is regulated by the Non-Financial Reporting Directive (NFRD)[5], recently revised and renamed Corporate Sustainability Reporting Directive (CSRD).[6] An increasing number of organizations are providing frameworks for sustainability reporting and are issuing standards or similar initiatives to guide companies in this exercise.

There is a wide range of terminology used to qualify this same concept of sustainability reporting: non-financial reporting, extra-financial reporting, social reporting, CSR reporting or even socio-environmental reporting.

History

Corporate sustainability reporting has a history going back to environmental reporting.

This practice is rooted in the multidimensional concept of CSR and in the stakeholders' vision of corporate governance in Europe, which insists on the importance of understanding the company as an entity with relationships with its environment. According to Freeman's theory[7], the company's shareholders are no longer the only ones to be considered, but also its employees, customers, suppliers, local communities, governments: the society in the broadest sense.

With the emergence of this approach, the first response of many companies has been to expand the communication of their achievements in terms of social responsibility.[8] Information disclosed by companies themselves are the first indicators that can be received by the public in order to verify whether the decisions taken meet the announced commitments, as well as its own interests.[8]

The obligation of accountability is therefore often assimilated to reporting and is addressed, in the first place, to the company's stakeholders.[9]This means that both shareholders and society in general are concerned, while also taking future generations into account.[10]

Recently, there has been a growing interest in communications relating to the extra-financial aspects of organizations: CSR performance is now one of the factors considered in investment decisions.[11] The practice of sustainability reporting has existed in a scattered way since the 1980s but has really expanded over the last twenty years.

This is notably due to the global awareness of the ecological crisis and the common interest in sustainable development, but also to the numerous corporate governance scandals of large companies (Enron scandal, Parmalat Financial Fraud…) over the last two decades or the financial crisis of 2008.

In addition to eroding stakeholder trust, these circumstances have increased their activism for broader transparency and ensuring better information from companies.[12][13][14]

In this context, the need for sustainability reporting has gradually emerged. It was carried out by companies initially on a voluntary basis, with the aim of mitigating some of the skepticism of users of financial reports and restoring the trust of stakeholders by expressing a willingness to behave responsibly.[15][14]

The publication of non-financial reports thus began in an ad hoc and rather anecdotal manner, confined to a few subjects deemed worthy of interest by the companies themselves. A copy effect, combined with latent pressure from stakeholders, subsequently contributed to the acceptance and renewal of this approach[15], which gradually became more structured. Today, these reports are common: 93% of the world's two hundred and fifty largest companies publish them annually.[16] Indeed, CSR and its concrete implementation are increasingly valued by public opinion.[17]

This interest has led to the emergence of reference frameworks, guidelines, standards and regulations in this area. In addition to helping and guiding companies, this range of resources has also allowed for a certain standardization of both the information disclosed and the method of communication.

The objectives of developing guidelines are to provide companies with a concrete methodology and to make the published data understandable, credible and comparable for their users.[18] Reporting guidelines are issued either by private non-governmental organizations (whose adoption by companies is therefore voluntary), or more recently by governments on the basis of mandatory standards. Indeed, for some companies, this disclosure has been made mandatory (see next section). In line with these developments, some consulting firms have started ESG advisory services and help companies to draft their sustainability reports.

There are a variety of reasons that companies choose to produce these reports, but at their core they are intended to be "vessels of transparency and accountability" Often, they are also intended to improve internal processes, engage stakeholders and persuade investors.[19]

Improved disclosure of non-financial information can have other benefits for reporting companies. In particular, the adoption of sustainability reporting has been found to have a positive impact on company performance and value. OECD suggests that companies showing sustainable performance on ESG criteria and communicating effectively about them seem to enjoy better financial performance. [20][21]These companies generally benefit from a more diversified investor base, for example through their inclusion in actively managed investment portfolios or sustainability indices.[22] In addition, companies that effectively communicate their non-financial engagements and have a high performance in this area are more likely to attract and retain talents thanks to their greater social credibility, as this stimulates employees' motivation and meets their values.[23]

As a matter of law, in the United States, the materiality principle controls whether a publicly traded corporation must disclose certain information, that is: "a fact is material if there is a substantial likelihood that the fact would have been viewed by a reasonable investor as having significantly altered the ‘total mix’ of information available."[24]

In this case, some authors have examined and applied several factors (including the percentages of managed investment assets that are screened for ESG criteria, plus the fact that over 90% of large publicly traded companies publish ESG data) and concluded that ESG data qualifies as being material.[25] It has also been suggested that other organizations that issue securities may also be well-advised to also engage in sustainability reporting.[26]

European Union

In Europe, the legislative framework for sustainability reporting practices is based on Directive 2014/95/EU (Non-Financial Reporting Directive or NFRD), which provides a uniform regulatory framework for non-financial information for EU Member States.[27] This Directive applies to large public interest undertakings with more than 500 employees on average during the financial year, both single undertaking and consolidated groups. Companies falling within the scope of the Directive must also have a balance sheet total exceeding EUR 20 million and/or a turnover exceeding EUR 40 million, where applicable, on a consolidated basis.[28] By 2021, approximately 11,600 companies in Europe were in its scope of application.

Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amends Directive 2013/34/EU in relation to the disclosure of non-financial and diversity information by certain large undertakings and groups. Two articles (19a and 29a) are inserted into Directive 2013/34/EU, now requiring, for the first time, certain companies to disclose information on how they operate and manage social and environmental challenges. This updated directive applies to all Member States of the European Union. They must bring into force the laws, regulations and administrative provisions needed to comply with the Directive.[29]

A revision process of Directive 2014/95/EU was initiated in January 2020 with the aim of improving the quality and reliability of non-financial reporting [30] and reducing the administrative burden on companies in terms of reporting.[31] A broad public consultation was then organised from February to June 2020 to gather input and opinions from various stakeholders regarding the review of the Directive's provisions. The outcome of this consultation is the European Commission's proposal on 21 April 2021 to revise the NFRD by introducing the Corporate Sustainability Reporting Directive (CSRD).[30]

Content/Scope of application

Companies that fall within the scope of the EU Directive 2014/95/EU on non-financial reporting, the main EU-wide initiative in this area, must publish information on the following areas:

  • Environmental protection
  • Social responsibility and treatment of employees
  • Respect for human rights
  • The fight against corruption and bribery
  • Diversity on company boards (in terms of age, gender, education and professional experience).
Category Subcategory
Environment
  • Climate change
  • Use of natural resources
  • Polluting discharges
  • Waste
  • Biodiversity and ecosystem conservation
Employee and social matters
  • Employees and workforce
  • Social matters
Human rights
  • General human rights reporting criteria
  • Human rights in supply chains
  • High risk areas for civil and political rights
  • Impacts on indigenous and local communities
  • Conflict resources
  • Data protection
Anti-Corruption
  • Anti-Corruption
  • Whistleblowing channels
General positive impacts
  • General and sectorial positive impacts by products/sources of opportunity

[32]

For each category, the company is also required to briefly describe the group's business model, describe the policies that are applied in these areas, provide the results of these policies, establish the risks related to these areas and finally establish the non-financial KPIs (Key Performance Indicators) of these areas. The information should also be published with the objective to understand the development, performance, position and ultimately the impact of the firm's activities.[33] Under this directive, companies have however no obligation as to how and where they publish this information.[34] They can therefore base themselves on various international or local frameworks depending on their preferences and needs. [35]

In practice, most companies comply with the requirement to describe in detail the policies they apply, particularly in the social and environmental fields. [36] Due diligence policies and procedures relating to human rights and corruption also appear regularly in organisations' reports, but to a lesser extent than social and environmental policies. The reasons for this divergence in the importance an organisation places on certain areas rather than others stem notably from differences in the maturity of the organisation, the evolution of the areas and their relevance to companies over time, and the place of these areas in relation to a company's supply chain. The presentation of policies, KPIs and risks remains a highly disparate practice. [36]

Initiatives

Organizations can improve their sustainability performance by measuring (EthicalQuote (CEQ)), monitoring and reporting on it, helping them have a positive impact on society, the economy, and a sustainable future. When it comes to reporting, companies have a certain amount of freedom in the drafting of their statements, given the absence of any binding law on this subject.[37]

However, various initiatives (national, European or international) are developing standardized methodologies to help companies build their sustainability reports [37] which, according to the European Directive 2014/95/UE, have to be cited by the companies using them.[38] Some of these are mentioned in the same Directive [38]and in the Commission's Communication COM (2017) 215/1 setting out guidelines on non-financial information.[39]

The key drivers for the quality of sustainability reports are the guidelines of the Global Reporting Initiative (GRI)[40], because it is the most widely used benchmark by companies worldwide given its reliability.[37] [41][42] It provides opportunities for comparison of information related to the economic, environmental, and social impact of undertakings internationally.[41] In addition, the SDG Compass has been created by GRI, the UN Global Compact and the World Business Council for Sustainable Development (WBCSD) with the aim of linking the GRI standards to the Sustainable Development Goals.[37] This document provides guidance on how to report the company’s contribution to the SDGs by leveraging the GRI standards.[43]

A series of other initiatives exist among which we can mention the most prominent ones on the sustainability and CSR reporting scene[42][44]:

See also

References

Notes

  1. ^ Erkens, Michael; Paugam, Luc; Stolowy, Hervé (2015-11-18). "Non-financial information: State of the art and research perspectives based on a bibliometric study". Comptabilité Contrôle Audit. Tome 21 (3): 15–92. doi:10.3917/cca.213.0015. ISSN 1262-2788.
  2. ^ Moravcikova, K., Stefanikova, L., & Rypakova, M. (2015). CSR reporting as an important tool of CSR communication. Procedia Economics and Finance, 26, 332–338.
  3. ^ SemiColonWeb. "Sustainability Reporting". BC CCC. Retrieved 2022-03-25.
  4. ^ Arvidsson, S. (2019). Challenges in Managing Sustainable Business : Reporting, Taxation, Ethics and Governance. London : Palgrave Macmillan.
  5. ^ Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups. O.J., L330, 15 november 2014, p. 1-9. Available online: https://eur-lex.europa.eu/legal-content/FR/TXT/?uri=CELEX:32014L0095
  6. ^ Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directive 2013/34/EU, Directive 2004/109/EC, Directive 2006/43/EC and Regulation (EU) No 537/2014, as regards corporate sustainability reporting. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52021PC0189
  7. ^ Freeman, R.E. (1984) Strategic Management : a Stakeholder Approach. Boston : Pitman.
  8. ^ a b Quynh Lien, Duong (2005-01-02). "La responsabilité sociale de l'entreprise, pourquoi et comment ça se parle?". Communication et organisation. Revue scientifique francophone en Communication organisationnelle (in French) (26): 26–43. doi:10.4000/communicationorganisation.3269. ISSN 1168-5549.
  9. ^ Boyer-Allirol, Béatrice (2013-12-28). "Faut-il mieux réglementer le reporting extrafinancier ?". Revue française de gestion. 39 (237): 73–95. doi:10.3166/rfg.237.73-95.
  10. ^ Ceccarelli, A., Gendron, C. & Morin-Esteves, C. (2016). Les rapports de développement durable: Dialogues autour de la définition et de la mesure de la performance extra financière des entreprises [Congrés]. RIODD, Saint-Étienne. https://hal.archives-ouvertes.fr/hal-01349994/document
  11. ^ Durand, Rodolphe; Paugam, Luc; Stolowy, Hervé (2019-05-09). "Do investors actually value sustainability indices? Replication, development, and new evidence on CSR visibility". Strategic Management Journal. 40 (9): 1471–1490. doi:10.1002/smj.3035. ISSN 0143-2095.
  12. ^ Aluchna, Maria; Roszkowska-Menkes, Maria (2019), Długopolska-Mikonowicz, Aneta; Przytuła, Sylwia; Stehr, Christopher (eds.), "Non-financial Reporting. Conceptual Framework, Regulation and Practice", Corporate Social Responsibility in Poland: Strategies, Opportunities and Challenges, Cham: Springer International Publishing, pp. 213–236, doi:10.1007/978-3-030-00440-8_14, ISBN 978-3-030-00440-8, retrieved 2022-03-25
  13. ^ Amran, Azlan; Keat Ooi, Say (2014-06-03). "Sustainability reporting: meeting stakeholder demands". Strategic Direction. 30 (7): 38–41. doi:10.1108/sd-03-2014-0035. ISSN 0258-0543.
  14. ^ a b Uyar, Ali (2016-04-15). "Evolution of Corporate Reporting and Emerging Trends". Journal of Corporate Accounting & Finance. 27 (4): 27–30. doi:10.1002/jcaf.22157. ISSN 1044-8136.
  15. ^ a b Persais E. (2003). Le rapport de développement durable (ou stakeholders’ report) : un outil pour une gouvernance sociétale de l’entreprise ? Développement durable et entreprise, Actes de la Journée AIMS, ESSCA.
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Further reading

  • Schaltegger, S.; Bennett, M. & Burritt, R., eds. (2006). Sustainability Accounting and Reporting. Dordrecht: Springer.
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