Spanish companies’ website communication of environmental, social, and governance information

Ponce, Herenia Gutiérrez; González, Julián Chamizo; Serrat, Núria Arimany

doi:10.15581/003.34.4.117-133

Cited by 3 publications

(4 citation statements)

References 32 publications

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“…Companies with the highest values for Indebtedness and ROA are more likely to obtain higher values for ESG, as are those with higher Liquidity and ROE. This conclusion coincides with the results obtained by [40]. We cannot conclude that the companies with the highest indebtedness and economic profitability and the highest levels of ESG disclosure also comply best with regulations and adapt best to achieving the objectives of the 2030 Agenda.…”

Section: Discussionsupporting

confidence: 82%

“…Analyzing the web transparency of the non-financial information of the 65 listed companies on two European stock indexes, the German (DAX30) and the Spanish (IBEX35), Ref. [40] found a significant relationship between financial indicators (economic profitability and financial profitability) and the transparency of the non-financial indicators of said companies. In the same line [41] analyzed 314 UK-listed companies over the period 2002-2015 and found that companies periodically adjusted their level of commitment to society to meet their goal of publishing their corporate performance on their websites.…”

Section: Literature Reviewmentioning

confidence: 99%

“…After presenting study results for the 35 companies in the IBEX35 and obtaining the coincidence or significant relationship between the financial indicators and disclosure of ESG web information, Gutiérrez Ponce et al (2021) presented the findings of the study's statistical associations through parametric correlations between the original variables (Indebtedness, Liquidity, ROA, ROE) and the ranking and podium variables (Liquidity Ranking, Liquidity Podium, ROA Ranking, ROA Podium, ROE Ranking, and ROE Podium).…”

Section: Statistical Associations Between Financial Indicators and Es...mentioning

confidence: 99%

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Disclosure of Environmental, Social, and Corporate Governance Information by Spanish Companies: A Compliance Analysis

2022

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The transposition of Directive 2014/95/EU to Spain through Law 11/2018 of December 28 requires companies to publish information on the impact of their environmental, social, and governance activities (ESG information) in management reports or in a “non-financial statement.” This study aims to assess the readiness of IBEX35 companies to submit ESG reports through their communication and web transparency and to determine whether such ESG information is related to these companies’ financial indicators. The study is pioneering in the analysis of the transparency of non-financial information on the websites of companies listed on the main Spanish stock market index (IBEX 35). It uses exploratory and descriptive analysis to determine whether the companies with the best economic efficiency indicators are also the most transparent in non-financial indicators (ESG) and to what extent these relationships explain the dependency between the two. The findings reveal that IBEX35 companies need to improve their web transparency by presenting solid non-financial reports with ESG sustainability parameters. The results show that companies with economic profitability in Return on Assets that use their debt levels wisely disclose higher levels of ESG information. In other words, financial performance and indebtedness contribute to improving levels of ESG disclosure on the IBEX35. Companies must also improve accessibility to ESG information, update it, and classify it in accordance with current regulations.

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Section: Discussionsupporting

confidence: 82%

Section: Literature Reviewmentioning

confidence: 99%

Section: Statistical Associations Between Financial Indicators and Es...mentioning

confidence: 99%

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Disclosure of Environmental, Social, and Corporate Governance Information by Spanish Companies: A Compliance Analysis

2022

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“…The COVID‐19 pandemic has increased awareness of the risk of systemic problems and existential threats such as climate change to the stability of the financial system, as well as greater interest in ESG information. Some investors have therefore sought simpler ways to evaluate the problems of sustainable development through comparable and consistent metrics (Adams & Abhayawansa, 2022; Gutiérrez‐Ponce et al, 2021). Stakeholders demand that organizations provide more consistent, comparable ESG disclosure, and this demand has led to harmonization through internationally recognized sustainability standards.…”

Section: Literature Review and Development Of Rqsmentioning

confidence: 99%

Sustainability as a strategy base in Spanish firms: Sustainability reports and performance on the sustainable development goals

Ponce

2023

Sustainable Development

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This article examines corporate sustainability reports, the standards they use, and their connection to performance on the sustainable development goals (SDGs) from firms in the main Spanish stock index. The investigation was performed through an exploratory, descriptive, analytic study as well as examination of the disclosure and performance on the SDGs after Law 11/2018 went into effect in Spain. The study methods used include parametric correlations that explain the associations between the global reporting initiative (GRI) and environmental, social, and governance (ESG) standards and the level of performance on SDGs/ESG in the sustainability reports.We found that all firms present their verified sustainability reports, that the level of ESG information is above 75%, and that the GRI is the sustainability standard used.Further, all firms contribute on average a 75% level of information on all goals and on each of the 17 goals for the 2030 Agenda. We obtain significant analogies in level of disclosure of GRI-ESG information and level of performance on the SDGs/ESG. In addition, the higher the level of information on environmental GRI standards, the better the firm's position in the environmental SDG ranking.

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The cooperative ESG disclosure index: an empirical approach

Castilla-Polo,

García-Martínez,

Guerrero-Baena

et al. 2024

Environ Dev Sustain

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Growing concern about Environmental, Social, and Governance (ESG) performance is pushing businesses, including social economy enterprises such as cooperatives, to seek solutions for Sustainable Development (SD) challenges. This study explores the current landscape of ESG reporting by Spanish cooperatives, adding to the limited knowledge about their sustainability disclosure practices. We propose a specific framework for these entities based on non-financial indicators as a preliminary step to develop an index for ESG reporting, the Cooperative ESG Reporting Index (COOPESG). In terms of methodology, the first step is to create an ad hoc database of primary data sourced through the analysis of cooperative websites. Then, by reviewing the indicators reported by these companies, these primary data are then used to develop an index. Our findings show that only half of the sampled cooperatives have a specific section on their website for ESG reporting. Regarding formats, Codes of Ethics were the most frequent type of report used, followed by the publication of information on SDGs. In terms of content disclosed, the social and governance blocks stand out, while the least information is disclosed on the economic and environmental blocks. Furthermore, there is evidence of a size and sector effect on the disclosed content. All this provides valuable insights for scholars and practitioners alike. Thus, the main practical contribution of this paper for cooperative managers is that it supports the effective disclosure of ESG in line with prevailing good practice, addressing emerging social regulation in the context of the European Union. Also, for academia this study offers a practical breakthrough in the analysis of this subject, helping to fill the gap on cooperatives found in the ESG reporting literature and setting a new research agenda.

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Spanish companies’ website communication of environmental, social, and governance information

Cited by 3 publications

References 32 publications

Disclosure of Environmental, Social, and Corporate Governance Information by Spanish Companies: A Compliance Analysis

Disclosure of Environmental, Social, and Corporate Governance Information by Spanish Companies: A Compliance Analysis

Sustainability as a strategy base in Spanish firms: Sustainability reports and performance on the sustainable development goals

The cooperative ESG disclosure index: an empirical approach

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