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Sustainability-related non-financial information is increasingly deemed value relevant. Against this background, two recent trends in non-financial reporting are frequently discussed: integrated reporting and assurance of sustainability information. Using an established framework of information acquisition, evaluation, and weighting, this experimental study investigated how the choice of reporting format interacts with the voluntary assurance of sustainability information. The results from a sample of professional investors underline the important role of assurance in the context of voluntary disclosure and illustrate the relevant interaction with the reporting format. Assurance of sustainability information positively affected professional investors' evaluation of a firm's sustainability performance, resulted in a higher weighting of this information, and led to higher investment-related judgments. However, this assurance effect was weaker in the case of integrated reporting compared to separate reporting. We attribute this effect to a cognitive bias in decision making when assured financial performance and non-assured sustainability performance are presented in the same report.

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This paper draws on insights from environmental psychology to develop a conceptual model for explaining pro‐environmental behavior within companies. We delineate the voluntary pro‐environmental behavior of employees (VPBE) from other forms of pro‐environmental behavior (e.g., organizationally prescribed behavior) and identify determinants of VPBE. Specifically, we advance hitherto existing concepts by connecting different psychological models for the explanation of private sphere pro‐environmental behavior and then adapting them to the corporate sphere. We conclude by assessing some implications for corporate interventions and providing recommendations for further research.