IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxviiiy2025i1p1033-1049.html
   My bibliography  Save this article

Opportunities for ESG Reporting in Railway Electric Power Supply Enterprises Based on Annual Reports

Author

Listed:
  • Ferensztajn-Galardos Ewa
  • Krajewska Renata
  • Wojciechowski Jerzy

Abstract

Purpose: The aim of this paper is to analyse the implementation status of ESG reporting in railway electric power companies in Poland. Design/Methodology/Approach: The study employed a qualitative approach based on content analysis and comparative analysis of reporting documents from four railway electric power supply enterpris in Poland. Findings: The findings indicate a notable inconsistency in the level and structure of ESG reporting among the analysed companies operating in the railway electric power and transport sectors. Only one of the four companies, PKP CARGO S.A., has published a standalone ESG report for 2023. PGE Energetyka Kolejowa provided ESG-related content within the integrated report of the PGE Group, which limits the granularity of sector-specific insights. PKP PLK S.A. and PKP Intercity S.A. have not yet produced independent ESG disclosures. Practical Implications: The findings of this study have significant practical relevance for railway electric power companies that will be required to comply with the CSRD directive as well as GRI and ESRS standards. The study can support ESG reporting teams in structuring their reports and identifying information gaps. Moreover, the conclusions drawn from the analysis provide a foundation for implementing procedures for monitoring and collecting non-financial data in the environmental, social, and governance areas. Originality/Value: The study focuses on a narrowly defined yet strategically important sector—railway electric power supply—which has so far been only marginally represented in the ESG literature.

Suggested Citation

  • Ferensztajn-Galardos Ewa & Krajewska Renata & Wojciechowski Jerzy, 2025. "Opportunities for ESG Reporting in Railway Electric Power Supply Enterprises Based on Annual Reports," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 1033-1049.
    • Handle: RePEc:ers:journl:v:xxviii:y:2025:i:1:p:1033-1049
    as

    Download full text from publisher

    File URL: https://ersj.eu/journal/3956/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Chollet, Pierre & Sandwidi, Blaise W., 2018. "CSR engagement and financial risk: A virtuous circle? International evidence," Global Finance Journal, Elsevier, vol. 38(C), pages 65-81.
    2. Anastasia Axjonow & Jürgen Ernstberger & Christiane Pott, 2018. "The Impact of Corporate Social Responsibility Disclosure on Corporate Reputation: A Non-professional Stakeholder Perspective," Journal of Business Ethics, Springer, vol. 151(2), pages 429-450, August.
    3. Pina Murè & Marco Spallone & Fabiomassimo Mango & Stefano Marzioni & Lucilla Bittucci, 2021. "ESG and reputation: The case of sanctioned Italian banks," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(1), pages 265-277, January.
    4. Alaa Aldowaish & Jiro Kokuryo & Othman Almazyad & Hoe Chin Goi, 2022. "Environmental, Social, and Governance Integration into the Business Model: Literature Review and Research Agenda," Sustainability, MDPI, vol. 14(5), pages 1-20, March.
    5. Pierre Chollet & Blaise Sandwidi, 2018. "CSR engagement and financial risk: A virtuous circle? International evidence," Post-Print hal-02048716, HAL.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Doga Izcan & Eralp Bektas, 2022. "The Relationship between ESG Scores and Firm-Specific Risk of Eurozone Banks," Sustainability, MDPI, vol. 14(14), pages 1-21, July.
    2. Moliterni, Fabio, 2018. "Do Global Financial Markets Capitalise Sustainability? Evidence of a Quick Reversal," SAS: Society and Sustainability 274853, Fondazione Eni Enrico Mattei (FEEM).
    3. María Luisa Pajuelo‐Moreno & María Jesús Barroso‐Méndez & Dolores Gallardo‐Vázquez, 2024. "Relationship between sustainability disclosure and corporate reputation: Evidence from a meta‐analysis," Business Strategy and the Environment, Wiley Blackwell, vol. 33(8), pages 8593-8615, December.
    4. Shakil, Mohammad Hassan, 2021. "Environmental, social and governance performance and financial risk: Moderating role of ESG controversies and board gender diversity," Resources Policy, Elsevier, vol. 72(C).
    5. Duan Ji & Yuyu Liu & Lin Zhang & Jingjing An & Wenyan Sun, 2020. "Green Social Responsibility and Company Financing Cost-Based on Empirical Studies of Listed Companies in China," Sustainability, MDPI, vol. 12(15), pages 1-16, August.
    6. Simona Galletta & Sebastiano Mazzù & Valeria Naciti, 2021. "Banks' business strategy and environmental effectiveness: The monitoring role of the board of directors and the managerial incentives," Business Strategy and the Environment, Wiley Blackwell, vol. 30(5), pages 2656-2670, July.
    7. Ramírez-Orellana, Alicia & Martínez-Victoria, MCarmen & García-Amate, Antonio & Rojo-Ramírez, Alfonso A., 2023. "Is the corporate financial strategy in the oil and gas sector affected by ESG dimensions?," Resources Policy, Elsevier, vol. 81(C).
    8. Birindelli, Giuliana & Dell’Atti, Stefano & Di Tommaso, Caterina & Iannuzzi, Antonia Patrizia & Pacelli, Vincenzo, 2024. "The impact of banks’ climate engagement on systemic risk. Does committing a little or a lot make a difference?," Research in International Business and Finance, Elsevier, vol. 70(PB).
    9. Huijie Li & Jie Li, 2021. "Risk Governance and Sustainability: A Scientometric Analysis and Literature Review," Sustainability, MDPI, vol. 13(21), pages 1-18, October.
    10. Khan, Muhammad Arif, 2022. "ESG disclosure and Firm performance: A bibliometric and meta analysis," Research in International Business and Finance, Elsevier, vol. 61(C).
    11. Francisco Javier Forcadell & Antonio Lorena & Elisa Aracil, 2023. "The firm under the spotlight: How stakeholder scrutiny shapes corporate social responsibility and its influence on performance," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(3), pages 1258-1272, May.
    12. Naseer, Mirza Muhammad & Guo, Yongsheng & Bagh, Tanveer & Zhu, Xiaoxian, 2024. "Sustainable investments in volatile times: Nexus of climate change risk, ESG practices, and market volatility," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    13. Hamza Almustafa & Quang Khai Nguyen & Jia Liu & Van Cuong Dang, 2023. "The impact of COVID-19 on firm risk and performance in MENA countries: Does national governance quality matter?," PLOS ONE, Public Library of Science, vol. 18(2), pages 1-24, February.
    14. Hsu, Feng-Jui & Chen, Sheng-Hung, 2021. "US quantitative easing and firm’s default risk: The role of Corporate Social Responsibility (CSR)," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 650-664.
    15. Yang, Ann Shawing & Yulianto, Fritz Andryan, 2022. "Cost of equity and corporate social responsibility for environmental sensitive industries: Evidence from international pharmaceutical and chemical firms," Finance Research Letters, Elsevier, vol. 47(PA).
    16. Liu Wu & Zhen Shao & Changhui Yang & Tao Ding & Wan Zhang, 2020. "The Impact of CSR and Financial Distress on Financial Performance—Evidence from Chinese Listed Companies of the Manufacturing Industry," Sustainability, MDPI, vol. 12(17), pages 1-19, August.
    17. Paola Brighi & Antonio Carlo Francesco Della Bina & Valeria Venturelli, 2022. "Do ESG Investments Mitigate ESG Controversies? Evidence From International Data," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 0084, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    18. Dhafer Saïdane & Sana Ben Abdallah, 2020. "Sustainability and Financial Stability: Evidence from European Banks," Economics Bulletin, AccessEcon, vol. 40(2), pages 1769-1780.
    19. Begoña Torre Olmo & María Cantero Saiz & Sergio Sanfilippo Azofra, 2021. "Sustainable Banking, Market Power, and Efficiency: Effects on Banks’ Profitability and Risk," Sustainability, MDPI, vol. 13(3), pages 1-24, January.
    20. Forgione, Antonio Fabio & Migliardo, Carlo, 2020. "CSR engagement and market structure: Evidence from listed banks," Finance Research Letters, Elsevier, vol. 35(C).

    More about this item

    Keywords

    Εlectric power economy; sustainable transport; non-financial reporting; sustainable development.;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:journl:v:xxviii:y:2025:i:1:p:1033-1049. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.