The multiverse of non-financial reporting regulation

Baboukardos, Diogenis; Gaia, Silvia; Lassou, Philippe; Soobaroyen, Teerooven

doi:10.1080/01559982.2023.2204786

Cited by 15 publications

(3 citation statements)

References 89 publications

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“…We urge future research to provide evidence from different institutional settings, which would lead to a better understanding of the interplay between the real effects of climate change reporting regulation, firms' external pressures, and internal policies. To that end, the plethora of sustainability reporting regulations across the world today(Baboukardos et al, 2023) further reinforces our thesis that more research is needed on their real effects. ORCID Diogenis Baboukardos https://orcid.org/0000-0001-5888-8629 APP E NDIX B : PROPENSITY SCORE MATCHING RESULTS FOR THE DIFF-IN-DIFF SPECIFICATION OF TABLE 5 Panel A. Estimation of propensity score functions Probit model:…”

supporting

confidence: 65%

“…In relation to carbon emissions, Downar et al (2021) show that the carbon reporting regulation introduced in the United Kingdom in 2013 is associated with lower carbon emissions for firms listed in the London Stock Exchange. Nevertheless, the literature on the real effects of climate change reporting regulation is still scarce (Baboukardos et al, 2023;Christensen et al, 2021). More importantly, there is no evidence over the channels (as suggested by the targeted transparency action cycle theoretical viewpoint) through which climate change reporting regulation affects firms' real climate change-related activities.…”

Section: Introductionmentioning

confidence: 99%

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Carbon reporting regulation: Real effects, external pressures, and internal policies

Baboukardos,

Kopita,

Ranegaard

et al. 2024

Bus Strat Env

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Mandatory climate change reporting is suggested as a mechanism for mitigating firms' climate change impact and, in particular, their carbon emissions. Although extant literature provides evidence of a negative association between the introduction of carbon reporting regulation and firms' carbon emissions, the literature on real effects of climate change reporting regulation is still in its infancy and has yet to provide evidence of the channels through which reporting regulation affects firms' real climate change‐related activities. By adopting the theoretical framework of the targeted transparency action cycle, which describes the mechanism leading to the real effects of reporting regulation, we provide empirical evidence on how external pressures exerted on firms and internal policies adopted by them shape the effects of carbon reporting regulation on firms' actual carbon emissions. We take advantage of the 2013 amendments of the UK Companies Act 2006, which made the United Kingdom the first country in the world to require its listed firms to report carbon emissions in their annual reports, and we empirically show that, first, after the introduction of the new reporting regulation, firms exhibit significantly lower levels of carbon emissions; second, these effects are more prominent in firms under higher external pressure; and third, firms that engage with relevant climate change policies exhibit a much larger reduction of their carbon emissions after the regulation took effect.

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supporting

confidence: 65%

Section: Introductionmentioning

confidence: 99%

Carbon reporting regulation: Real effects, external pressures, and internal policies

Baboukardos,

Kopita,

Ranegaard

et al. 2024

Bus Strat Env

Self Cite

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“…For example, one of the studies shows that in the sample of 60 countries, there are 348 mandatory and 266 voluntary sustainability reporting schemes (Van der Lugt et al, 2020). This is truly a sustainability reporting multiverse, an ecosystem of pronouncements related to non-financial or sustainability reporting (Baboukardos et al, 2023). This sustainability reporting multiverse resulted in a fragmented ecosystem with repetitive requirements, lower transparency, and higher complexity (BEIS, 2020;IFRS Foundation, 2020;Portilla et al, 2020;Accountancy Europe, 2019IOSCO, 2021;Mähönen, 2020).…”

Section: The Rationalised Ecosystem For Sustainability Reporting?mentioning

confidence: 99%

"The 2023's new and the fresh": the International Sustainability Disclosure Standards

Zdolšek,

Taškar Beloglavec

2023

Conference Proceedings : ICEMIT

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The manuscript briefly overviews the newly published ISSB Sustainability Disclosure Standards in June 2023. Critical matters leading to the historical publication of the ISSB Standards are elaborated, including the IFRS's International Sustainability Standards Board (ISSB) positioning in the ecosystem for sustainability reporting in ESG accordance. The Board published two groundbreaking International Sustainability Disclosure Standards. We elaborate on a few fundamental concepts behind the ISSB Standards and their general requirements. Nevertheless, the awareness of the ISSB Standards and its disclosure requirements is at an early stage. The latter could have an impact on its worldwide endorsement. It is challenging for different jurisdictions to embed sustainability reporting into their reporting system.

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