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The Jungle of Sustainability Frameworks and Standards: Evidence from European Listed Companies

In: Business Development and Economic Governance in Southeastern Europe

Author

Listed:
  • Grazia Dicuonzo

    (University of Bari Aldo Moro)

  • Francesca Donofrio

    (University of Bari Aldo Moro)

  • Simona Ranaldo

    (University of Bari Aldo Moro)

Abstract

In the last decade, corporate reporting has undergone a radical transformation, adding sustainability reporting to traditional financial reporting. The Barnier Directive (2014/95/EU) introduced into European law the obligation for large public-interest entities to prepare and publish a non-financial statement. This document must contain information relating to the environment, the social sphere, employee matters, respect for human rights, and the fight against active and passive corruption, aimed at ensuring an understanding of the company’s activities, performance, results, and impact. Indeed, to date, managers consider it necessary to adopt a holistic approach, considering both financial and non-financial aspects, to ensure the protection of the creation of corporate value. On April 2021, the European Commission adopted a proposal of Corporate Sustainability Reporting Directive (CSRD) aiming at improving sustainability reporting in order to contribute to the transition towards a fully sustainable and inclusive economic and financial system. In this context, the topic of sustainability reporting has become relevant for companies. This paper reviews the main frameworks and standards developed by international standards available to companies, investigating the level of adoption by a sample of European listed companies.

Suggested Citation

  • Grazia Dicuonzo & Francesca Donofrio & Simona Ranaldo, 2022. "The Jungle of Sustainability Frameworks and Standards: Evidence from European Listed Companies," Springer Proceedings in Business and Economics, in: Pantelis Sklias & Persefoni Polychronidou & Anastasios Karasavvoglou & Victoria Pistikou & Nikolaos (ed.), Business Development and Economic Governance in Southeastern Europe, pages 53-72, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-05351-1_3
    DOI: 10.1007/978-3-031-05351-1_3
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    More about this item

    Keywords

    Framework; International standard setter; Sustainability; Reporting;
    All these keywords.

    JEL classification:

    • 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
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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