Sustainability reporting and ESG performance in the utilities sector

Imperiale, Francesca; Pizzi, Simone; Lippolis, Stella

doi:10.1016/j.jup.2022.101468

Cited by 45 publications

(27 citation statements)

References 58 publications

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“…The analysis did not reveal statistically significant relationships between the standalone adoption of the SASB or the GRI and the AFE. This evidence confirms, as evidenced in recent studies, sustainability reports’ loss of legitimacy caused by the proliferation of reports prepared by companies on a mandatory or quasi-mandatory basis (Imperiale et al , 2023; Shabana et al , 2017). In this regard, it is more complex for socially responsible companies to signal their sustainable business models to financial markets than in the past.…”

Section: Discussionsupporting

confidence: 87%

Do sustainability reporting standards affect analysts’ forecast accuracy?

Pizzi,

Caputo,

de Nuccio

2024

SAMPJ

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Purpose This study aims to contribute to the emerging debate about materiality with novel insights about the signaling effects related to the disclosure of environmental, social and governance (ESG) information using the guidelines released by the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB). Design/methodology/approach An empirical assessment using panel data analysis was built to evaluate the relationship between sustainability reporting standards and analysts’ forecast accuracy. Findings The analysis revealed that the proliferation of sustainability reports prepared on mandatory or voluntary basis mitigated the signaling effects related to the disclosure of ESG information by companies. Furthermore, the additional analysis conducted considering sustainability reporting quality and ESG performance revealed the existence of mixed effects on analysts’ forecasts accuracy. Therefore, the insights highlighted the need to consider a cautionary approach in evaluating the contribution of ESG data to financial evaluations. Practical implications The practical implications consist of identifying criticisms related to disclosing ESG information by listed companies. In detail, the analysis underlines the need to enhance reporting standards’ interoperability to support the development of more accurate analysis by investors and financial experts. Social implications The analysis reveals increasing attention investors pay to socially responsible initiatives, confirming that financial markets consider sustainability reporting as a strategic driver to engage with stakeholders and investors. Originality/value This research represents one of the first attempts to explore differences between GRI and SASB using an empirical approach.

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Section: Discussionsupporting

confidence: 87%

Do sustainability reporting standards affect analysts’ forecast accuracy?

Pizzi,

Caputo,

de Nuccio

2024

SAMPJ

Self Cite

View full text Add to dashboard Cite

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“…Ilyas and Osiyevskyy (2022) study results also indicated a positive significant effect of SP on FP, as supported in our study. On the other side, and despite the fact that sustainability reports do not cover every aspect of a company's business, some studies concluded that SP has limited impact on FP, as in the findings of Imperiale et al (2023) and Moodaley and Telukdarie (2023). In depth and after testing the empirical results of studies, as conducted by Buallay (2022b, 2022c) results indicated the influence of sustainability reporting on a company's FP with a positive significant relationship between SP and ROA; where the results supported our study findings.…”

Section: Discussionmentioning

confidence: 99%

The impact of green innovation on sustainability and financial performance: Evidence from the Jordanian financial sector

Srouji,

Hamdallah,

Al‐Hamadeen

et al. 2023

Bus Strat Dev

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The purpose of this study is to examine the relationship between sustainability performance (SP) and financial performance (FP), based on performance disclosures (reporting) of the Jordanian financial sector for the period of 2017–2020. The study employs green innovation (GI) indicators as moderating and mediating variables; by using hierarchical regression; as means of unlocking and examining the relationship between SP and FP; through the lens of the stakeholder theory. The hierarchical regression findings suggest that GI indicators partially mediate the relationship between SP and FP, but do not demonstrate a moderating effect. As a main result, it is indicated that Jordanian financial institutions may use SP transparency indicators as an incentive variable, which could influence their overall FP. The research also contributes to the existing literature by adding insight into the use of GI indicators in a developing country and the potential impact on financial institutions markets. These findings lend empirical credence to the generally held belief that increase disclosure benefits for both internal and external users.

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“…Previously, innovation was, from an organizational point of view, a direct competence of the regulatory. The utility sector is generally conservative, because it is a highly regulated sector, where safety and security aspects are a priority in the management of operations and in the selection of technologies (Imperiale et al, 2023). In light of this aspect, Open Innovability represented an epochal change: the choice of an Open Innovation approach was determined by the structural conditions of the sector and by the related evolutionary dynamics, by the will of top management, and also by the personal experiences that concern the relationship between the current CEO and the current director of the Innovability function: Starace met Dr. Ciorra when the latter concluded his experience in consulting, concerning innovation and, in particular, Open Innovation: Ernesto Ciorra was, even then, one of the main experts in Italy of Open Innovation, as managerial experience (to which his academic experiences are added).…”

Section: The Case Of Enelmentioning

confidence: 99%

Open Innovation for sustainable transition: The case of Enel “Open Power”

2023

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Only in the last years, Sustainable Open Innovation has become a unique issue from the convergence between the concept of Open Innovation and sustainability as well as a challenge for the future business models of companies. Given that the aim to build a more sustainable world is one of the most relevant targets to reach over the world, the present work has focused on how Open Innovation is a catalyst for sustainability, by proposing a model for the case study in an underdeveloped sector, such as the energy one. Specifically, through the analysis of the ENEL case study, the relationship between Open Innovation (OI) and a strategic approach to CSR has emerged. The strategic approach to CSR, guided by open leadership aimed at involving stakeholders and creating shared value, creates an organizational culture and an environment favorable to the development of Open Innovation strategies; furthermore, the Open Innovation processes support the integration of the social, environmental, and economic objectives of companies. The findings show how Open Innovation can address sustainability practices and objectives. Through the application of the framework called SKiN, which provides a qualitative and replicable tool, the study allows to evaluate the organizational permeability as a critical success factor for both sustainability strategies and innovation.

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Sustainability reporting and ESG performance in the utilities sector

Cited by 45 publications

References 58 publications

Do sustainability reporting standards affect analysts’ forecast accuracy?

Do sustainability reporting standards affect analysts’ forecast accuracy?

The impact of green innovation on sustainability and financial performance: Evidence from the Jordanian financial sector

Open Innovation for sustainable transition: The case of Enel “Open Power”

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