Implementing SDGs and Mandatory Non-financial Reporting in Corporate Practices: Insight from an Italian Global Player

Carungu, Jonida; Molinari, Matteo; Nicolò, Giuseppe; Pigatto, Giacomo; Sottoriva, Claudio

doi:10.1007/978-3-030-90355-8_3

Cited by 3 publications

(3 citation statements)

References 48 publications

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“…The GRI standards have played a leading role in the development of voluntary sustainability reporting before mandatory requirements for non-financial disclosure (Carungu et al , 2022). Although the European Union (EU) Directive 95/2014 was an attempt to pursue the comparability of non-financial and sustainability information, it revealed some limits in establishing mandatory standards for non-financial and sustainability reporting (La Torre et al , 2018).…”

Section: Introductionmentioning

confidence: 99%

The Global Reporting Initiative’s (GRI) past, present and future: critical reflections and a research agenda on sustainability reporting (standard-setting)

Villiers

Torre

Molinari

2022

PAR

Self Cite

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Purpose This paper aims to reflect on the future of sustainability reporting standards by examining the current practical initiatives and the Global Reporting Initiative’s (GRI) position in the arena of non-financial and sustainability reporting and identifies avenues for future research. Design/methodology/approach A critical reflection and analysis of research on the GRI’s achievements and the influence of the International Financial Reporting Standards (IFRS) Foundation’s initiative to develop global sustainability reporting standards. Findings The GRI has a dominant position in sustainability reporting standard-setting related to the provision of information about the influence of reporting organisations on society and the natural environment. The IFRS Foundation’s initiative to enter the sustainability reporting standard-setting arena, although from the perspective of providing information to investors regarding the influence of society and the environment on the reporting organisation, is an attempt to solidify its own position as the reporting standard setter of choice, not only for financial reporting but for all reporting standards. However, despite its aim to differentiate its role from the GRI by leveraging the financial-oriented ideological side of double materiality, we argue that the IFRS is unlikely to harm the GRI’s global position in producing multi-stakeholder standards for sustainability reporting and accountability. This differentiated position is facilitated by the different sources of legitimacy the GRI and IFRS rely on. Research limitations/implications The paper identifies future research opportunities. Originality/value Due to the recent initiatives for creating new sustainability reporting standard-setters, to the best of the authors’ knowledge, this paper offers one of the first critical reflections on the past and the likely future of the GRI and its sustainability reporting standards. The paper also identifies several new avenues for future research.

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Section: Introductionmentioning

confidence: 99%

The Global Reporting Initiative’s (GRI) past, present and future: critical reflections and a research agenda on sustainability reporting (standard-setting)

Villiers

Torre

Molinari

2022

PAR

Self Cite

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“…Further, 80% of the N100 (5,200 companies in 52 countries) now issue their sustainability report. Thus, various institutions, such as the GRI and the IIRC, have been acknowledged as the significant institutions to be responsible for mobilising public support and awareness and increasing the legitimacy of sustainability reporting by providing guidance and frameworks for organisations to follow (Carungu et al , 2022). With the main focus of this study on the European Union (EU) sustainability standard-setting landscape, Figure 2 represents how the sustainability reporting environment previously looked in Europe.…”

Section: Arena Conceptmentioning

confidence: 99%

“…Further, 80% of the N100 (5200 companies in 52 countries) now issue their sustainability report. Thus, various institutions, such as the GRI and the IIRC have been acknowledged as the significant institutions to be responsible for mobilising public support and awareness and increasing the legitimacy of sustainability reporting by providing guidance and frameworks for organisations to follow (Carungu et al, 2022). With the focus of this study on the EU sustainability standard-setting landscape, Figure 2 Source: Author's elaboration However, as discussed in the introduction, certain issues have been the main discussion of different influential groups causing tensions and uncertainty in the sustainability reporting terrain, such as "materiality, audience, scope and core priorities, purpose of reporting and relevance to sustainable development" (Accountancy Europe, 2020; Barker and Eccles, 2019).…”

Section: 1the Conceptualisation Of the Sustainability Reporting Envir...mentioning

confidence: 99%

Influence and behaviour of the new standard setters in the sustainability reporting arena: implications for the Global Reporting Initiative’s current position

Afolabi

Ram

Rimmel

2023

SAMPJ

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Purpose This study aims to examine the influence and behaviour of the European Financial Reporting Advisory Group (EFRAG)/European Commission, and the International Financial Reporting Standards (IFRS) Foundation/International Sustainability Standards Board in the standardisation of sustainability reporting arena and their implications for the Global Reporting Initiative’s (GRI) current position. Design/methodology/approach This paper draws on the arena concept, particularly the work of Renn (1992) and Georgakopoulous and Thomson (2008), to explore the EFRAG and the IFRS Foundation’s behaviour towards the standardisation of the sustainability reporting arena and their implications for the GRI’s current position. Further, the documents and public releases pertinent to the activities and output of the GRI, the EFRAG/European Commission and the IFRS Foundation are used. The documents are screened and analysed based on the key elements of arena concept that emerged, which includes “agenda, claims, network of bodies and group engaged, interaction and behaviour with arena issues (audience, materiality, scope and core priorities, purpose of reporting and relevance to sustainable development)”. Findings This study reveals the source of motivation and influence of the new standard setters in the sustainability reporting arena and documents the relevance of their behaviour as an actionable strategy to change the arena rule. Particularly, this paper demonstrates the perceived fall away from driving business behaviour towards the pursuit of sustainable development if the GRI and its standards cease to exist. Practical implications The pathway to achieve sustainable development and improve sustainability impact disclosure remains a debatable issue among policymakers and users of sustainability reporting standards. This study reconstructs the awareness of different dynamics at play inhibiting the harmonisation of sustainability reporting standardisation and the importance of the GRI in pursuing global sustainable development. Social implications The pattern of behaviour and agenda of sustainability institutions and influential standard setters harnessed in this paper are aimed at enabling the existence of the rules that can uphold the primary focus of the sustainability reporting arena, particularly in achieving global sustainable development. Originality/value This paper furthers the understanding of the importance of the GRI in upholding the key tenets and traditional agenda of sustainability reporting and sustainable development.

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Critical Analysis of American and European Private Equity Firms regarding Environmental, Social and Governance Reporting utilizing Artificial Intelligence

Meyer,

Röser,

Zureck

2024

Preprint

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Implementing SDGs and Mandatory Non-financial Reporting in Corporate Practices: Insight from an Italian Global Player

Cited by 3 publications

References 48 publications

The Global Reporting Initiative’s (GRI) past, present and future: critical reflections and a research agenda on sustainability reporting (standard-setting)

The Global Reporting Initiative’s (GRI) past, present and future: critical reflections and a research agenda on sustainability reporting (standard-setting)

Influence and behaviour of the new standard setters in the sustainability reporting arena: implications for the Global Reporting Initiative’s current position

Critical Analysis of American and European Private Equity Firms regarding Environmental, Social and Governance Reporting utilizing Artificial Intelligence

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