The Contribution of Disclosure of Non-Financial Information to the Increase of the Quality of Economic-Financial Communication

Abstract

In the current context, corporate responsibility and transparency have gained great importance to meet the information needs of various stakeholders. Thus, non-financial reporting is becoming more and more an integral element of the strategic and financial information needed to evaluate a company and to understand its future prospects. The purpose of this article is to explore and identify the difficulties and limitations encountered in the process of economic-financial communication, when faced with the lack of information considered useful for certain stakeholders.

Challenges of social and environmental issues of companies operating in the energy industry

“…(Gianluca, 2021) Research and practice have emphasized the increasing need for businesses to legitimize their actions and react more adequately to the growing information requirements of stakeholders. The inadequacy of traditional financial reporting tools to meet these needs has prompted companies to disclose nonfinancial information on a mandatory or voluntary basis (Cosmulese, 2019). Consequently, a number of national and international organizations have proposed various frameworks to assist companies in the disclosure of non-financial information (e.g., social, environmental, governance, etc.)…”