Towards a conceptual framework for non-financial reporting inclusive of pandemic and climate risk reporting

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Subhash Abhayawansa ◽  
Carol Adams

Purpose This paper aims to evaluate non-financial reporting (NFR) frameworks insofar as risk reporting is concerned. This is facilitated through analysis of the adequacy of climate- and pandemic-related risk reporting in three industries that are both significantly impacted by the COVID-19 pandemic and are at risk from climate change. The pervasiveness of pandemic and climate-change risks have been highlighted in 2020, the hottest year on record and the year the COVID-19 pandemic struck. Stakeholders might reasonably expect reporting on these risks to have prepared them for the consequences. Design/methodology/approach The current debate on the “complexity” of sustainability and NFR frameworks/standards is critically analysed in light of the COVID-19 pandemic and calls to “build back better”. Context is provided through analysis of risk reporting by the ten largest airlines and the five largest companies in each of the hotel and cruise industries. Findings Risk reporting on two significant issues, pandemics and climate change, is woefully inadequate. While very little consideration has been given to pandemic risks, disclosures on climate-related risks focus predominantly on “risks” of increased regulation rather than physical risks, indicating a short-term focus. The disclosures are dispersed across different corporate reporting media and fail to appreciate the long-term consequences or offer solutions. Mindful that a conceptual framework for NFR must address this, the authors propose a new definition of materiality and recommend that sustainable development risks and opportunities be placed at the core of a future framework for connected/integrated reporting. Research limitations/implications For sustainable development risks to be perceived as “real” by managers, further research is needed to determine the nature and extent of key sustainable development risks and the most effective mitigation strategies. Social implications This paper highlights the importance of recognising the complexity of the issues facing organisations, society and the planet and addressing them by encouraging robust consideration of the interdependencies in evolving approaches to corporate reporting. Originality/value This study contributes to the current debate on the future of corporate reporting in light of two significant interconnected crises that threaten business and society – the pandemic and climate change. It provides evidence to support a long-term oriented and holistic approach to risk management and reporting.

Salil K. Sen

Purpose – There is a global convergence on issues pertaining to sustainability, such as water sharing, energy security and waste management. Symbiosis focus the need to secure an enduring relationship satisfying the quality of life need for novelty aspirations of the customers and stakeholders. This is addressed as sustainable differentiation. This study aims: to understand the need to develop the symbiosis of sustainable development and sustainable differentiation, to analyze the research framework of sustainability symbiosis though the underlying attributes of: need to develop, need to innovate and need to differentiate. Design/methodology/approach – The research design conceptualizes sustainable development as a process or evolution where firms may be symbiotically configured on the attributes of sustainability, development and differentiation. The logit analysis methodology addresses competitiveness coupled with environmentally benign technology to sustain the customers' preference for products and services that satisfy their quality of life needs. The approach is to estimate the symbiotic index of a local, regional or globally scalable habitat. The competitiveness coupled with environmentally benign technology can be sustained when the customers' preference for products and services satisfies their quality of life needs. Findings – The output indicates the significance (0.037 at 95 percent confidence level) of the constant term representing “quality of life need for novelty” justifying symbiotic linkage of sustainability, development and differentiation. There is goodness of fit (α 0.5617, Wald statistic 0.093) to establish the significance of the three variables of GDP (representing intensity of eco-efficient technology), population (standing for intensity of competitiveness) and sustaining empathy (in response to climate change). Their statistical significance indicates the propensity to differentiation given sustainable development would substantively improve the overall construct. Research limitations/implications – There is need for further research with primary data. The assumption that sustainable differentiation may become an indicator variable that may assume binary form needs thorough justification. The key implication is that differentiation creates grassroots distinctiveness to development that transforms sustainability into opportunity. This cost to benefit gap is bridged through the symbiotic chain of sustainability, development and differentiation. Originality/value – This sustainable differentiation metric harnesses a dormant, yet fundamental key to the success of sustainable development, the emotive linkage. This explanatory variable adds robustness to sustainable development models by way of etching a long-term memory trace for the sustainability practices of the organization as well as innovation efforts to differentiate long term providing an essence of competitiveness.

2019 ◽  
Vol 69 (1/2) ◽  
pp. 9-19
Ike Iswary Lawanda

Purpose This is a methodological proposal that describes the access to information as a starting point, and the importance of access to information as the backbone for the values of investment with the notion of culture as shared beliefs, supported by information to communicate and provide awareness about issues related to environmental policy that is consistent with sustainable development. Data collection is done from census data of Cikarawang population, observation and in-depth interviews with informants of community leaders. Constructive theory constructs to identify the diversity of existing construction of and placing in the consensus. The goal of this methodology is to produce an informed and knowledgeable construction of, which simultaneously improving continuously. Constructivists do not intend to predict and control the real world and divert it but to reconstruct the world at the point of its existence: in the mind of the people of the community in Cikarawang village. The view of the importance of cultural institutions and traditional knowledge should not be ignored in reaching the target of practical dissemination of information regarding environmental policy should be conducted for further study the model of and the model for the construction of the constructed. The use of application in documenting myths and rituals of Cikarawang people is enabling the access of information of the people in learning the culture and language of Cikarawang. Moreover, it is the way to reach the goal of sustainable environment for the next generations. Design/methodology/approach The goal of this methodology is to produce an informed and knowledgeable construction of, which simultaneously improved continuously. Constructivists do not intend to predict and control the real world and divert it but to reconstruct the world at the point of its existence: in the mind of the constructor. In the process related to two aspects, : hermeneutic and dialectical. Aspects of individual construction of hermeneutic describe as compare and contrast to the dialectical aspects of individual construction of, so that each respondent was entered into the construction of another and entirely fused. Findings The access of information on asri to face global warming is to demonstrate the hybridity and syncretism of this everyday locality and to show how this global sense of place is a progressive sense of place which avoids defensive and exclusionary definitions of place and culture because they cannot be sustained in a world where understanding a place means understanding its connection to other places. However, the youths of Cikarawang are likely to self-identify, as liberals are also more supportive of progressive domestic social agenda than older generations. They are less overtly religious than the older generations. Research limitations/implications The access of information, is about trying to establish the existence of the collectivity by defining what makes it a community – isolating national characteristics, defining crucial historical moments or significant places. None of these implies that these meanings can be fixed. There might be useful to think of nations as projects which are never fully achieved. There are always alternative accounts which are being given, and alternative interpretations being made from different positions. Climate information needs to be made in accordance with the local context and activities of both of the content, format, timing and distribution (dissemination). Practical implications The undetermined that perceived lack of locals trying to understand the information about weather and climate change are delivered by using technology need to engage their participation to identify and develop adaptation and mitigation strategies. Knowledge about the weather and how to overcome it is also myths about the environment containing taboo and prohibition as well as the annual harvest ritual. Digital technology using application is the nearest object to individual youngsters to access information openly and individually. Access of information using apps and internet is bridging the issues of climate change, myths and rituals about environment, and generation gaps. Social implications The behavior of young people of Generation X are not heeding the ban in the experience of their ancestors. It is not only because of their belief in myth depleted but also in the absence of respected elders. Person figures which are respected as wise men or local leaders to be role models. In the past, knowledge and cultural information are presented, preserved, generated down to future generations. Nowadays, information about climate, weather, cultural knowledge in agriculture, irrigation, daily life, ritual, myth, and kinship is no longer simply rely on figures but the media that they believe in. Originality/value It is an interdisciplinary research of global knowledge, memory and communication. Digital technology-based application as the system to support access of information and the effort of documentation on community myths and rituals of remote people may affect on sustainable local wisdoms which protect and sustain the environment to be inherited to next generations. Web, private social networks, wikis and blogs are becoming important corporate tools for communication, collaboration and information-sharing. It is a way of young people in this Generation X most familiar in such as interactive, collaborative, managing knowledge, and managing global system and bridging generation gaps.

2017 ◽  
Vol 25 (2) ◽  
pp. 268-290 ◽  
Albertus Louw ◽  
Warren Maroun

Purpose Independent monitoring and review bodies have become a defining feature of the professional accounting and auditing space. Exactly how these institutions function to improve the quality of the corporate reporting or audit function is, however, poorly understood. Consequently, the purpose of this study is to provide empirical evidence on how the activities of an independent review process functions on individual preparers, auditors and those charged with an organisation’s governance. Design/methodology/approach The study is an interpretive one. Data are collected using semi-structured interviews and analysed by the researchers. Findings The review function performed by an independent body results in companies being more aware of the need for compliance with the applicable financial reporting standards. Independent reviews also act as a process of examination which functions at the level of the individual accountant, auditor or director. These subjects of regulation report an added sense of accountability to their respective employer and profession and a heightened awareness of the need for high-quality corporate reporting. Research limitations/implications Independent monitoring and review bodies are not just symbolic displays which reassure uninformed users that the quality of financial statements are sound. Examination of financial statements and identification of non-compliance with the applicable financial reporting standards drive actual changes in reporting practices. Originality/value This study complements the predominantly positivist financial reporting research which does not deal with precisely how the work of regulatory bodies operates on the subjects of regulation. The research makes an important practical contribution by providing empirical evidence in support of laws and regulations which promote independent review of the accounting profession.

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Chih-Wei Lin ◽  
Li Keng Cheng ◽  
Lei-Yu Wu

PurposeBecause of relatively short product life cycles, radical product innovation has more significant influences on firms' competitive advantages in dynamic environments. Past studies identified various cultural characteristics of a firm, which are key drivers of developing radical product innovation on an ongoing basis. However, few studies have investigated the interaction between organizational culture and external market feedback in developing radical product innovation.Design/methodology/approachTo address the identified research gaps, this empirical research began by presenting conceptual foundations that lead to the hypothesized model and then analyzed survey data from 201 original equipment manufacturer suppliers in search of evidence supporting the hypotheses.FindingsThe results suggested that a supplier's entrepreneurial orientation and long-term orientation significantly and positively affected proactive market orientation, with proactive market orientation significantly and positively correlated with radical product innovation. The study confirmed that a proactive market orientation is essential in order for entrepreneurial orientation and long-term orientation to affect radical product innovation. Additionally, this study found that supplier–customer electronic integration has a moderating effect on proactive market orientation and radical product innovation.Originality/valueRadical product innovation is a topic of great interest for both academia and industry, yet a comprehensive conceptual framework for its antecedents is still lacking. To fill this theoretical gap, the present study extended the studies on radical product innovation and examined the relationship between different strategic orientation types in terms of supplier–customer strategic behaviors to determine how suppliers enhance radical product innovation.

2015 ◽  
Vol 25 (5) ◽  
pp. 568-591 ◽  
Carolin Plewa ◽  
Jillian C. Sweeney ◽  
David Michayluk

Purpose – The purpose of this paper is to capture the richness of customer perceived value by determining its benefit and cost dimensions in a complex service setting. Perceived value is argued as equivalent to value-in-use; that is value that emerges for or is created by the customer. Design/methodology/approach – A series of in-depth interviews was conducted with a diverse group of clients of financial planning services as well as with financial planners in Australia. Findings – Six benefit and four cost dimensions of complex service are identified, namely expertise, education, motivation, support, relationship and convenience benefits, as well as monetary, time and effort, emotional and lifestyle costs. The results also indicate proposed outcomes of these dimensions, along with relevant moderators, leading to a broad conceptual framework for future empirical validation. Originality/value – This study contributes to the sparse conceptual development of value perceptions, or value-in-use, in a complex service context. In particular, the authors identify the benefit and cost dimensions, specifically addressing aspects of value that are linked to the long-term relationship between provider and customer. The authors also develop a conceptual model of value, including both outcomes and situational moderators of the various value dimensions. Finally, the conceptualization of perceived value is discussed with respect to the value co-creation literature.

Njidda Mamadu Gadzama

Purpose The purpose of this paper is to develop the Great Green Wall (GGW) Project initially financed by the United Nation’s Global Environment Facility Trust Fund, is a Pan African proposal in greening the Sahel of Africa from West (Dakar) to the East (Djibouti). It aims at reducing poverty and soil degradation in this region, taking into account the effects of desertification and climate change on sustainability of livelihoods. Design/methodology/approach Several desertification attenuation projects in Nigeria are employing different methods for maximum benefits obtainable from the objectives of the particular projects. As noted above, however, the approach of GGW is to improve the alternative livelihoods of the people by their active participating in the implementation of the project. It is also noted that environmental impact assessment, community reconnaissance or needs assessments might be initial part of pre-project activities, thereby making the communities more aware and educated of the impending environmental problems. Findings Desertification has reached an alarming state in Nigeria. The frontline desert threatened States of Nigeria constitute 43 percent of the land mass of the country. With increased pressure of desertification, exacerbated by a period of prolonged drought of more than 20 years, climate change and human activities, it is becoming increasingly difficult to obtain sustainability in the management of the fragile lands and the region’s ecosystem. Strategic interventions in combating the problem of desertification in Nigeria have attenuated some of the detrimental social, economic and environmental impacts on the affected communities. Programmes and projects have strengthened the resilience of the people, participating in sand dune stabilization, the Great Green Wall Sahara Sahel Initiative, including shelterbelt developments. Government has sustained inputs in environmentally friendly agriculture and also encouraged synergetic collaborative activities with international and national NGOs, international agencies and local institutions. Originality/value These results/activities give evidence of the increased public awareness of environmental degradation due to desertification and climate change in Nigeria; the realization in environmental stabilization needs with ready participation of the communities for improved livelihoods in environmental activities and arid agriculture as supported by the National Great Green Wall (NAGGW) program of the country; resulting in internalization of these projects supporting livelihoods for sustainability in the Sahel of Nigeria.

2019 ◽  
Vol 74 (2) ◽  
pp. 204-215 ◽  
Roopanand Mahadew ◽  
Krishnee Adnarain Appadoo

Purpose The purpose of this paper is to assess the extent to which Mauritius has structured its adaptation to and mitigation of the climate change and its effects on the tourism industry based on the UNEP framework on tourism and climate change. Design/methodology/approach The UNEP framework is used as a guideline based on which an assessment of the various policies, laws or regulations existent in Mauritius is carried out. Findings The paper highlights the significant lacunas that exist in Mauritius with regard to this subject matter with measures taken in good faith but not structured and oriented enough to meet long-term goals. Originality/value This paper adds to the meagre literature that exists in Mauritius on the legal or normative framework that exists in Mauritius concerning climate change and the tourism industry.

Joseph Ato Forson

Purpose The purpose of this paper is to provide a conceptual framework on the relationship between corruption and development. The paper demonstrates how the impact of corruption on economic development might vary substantially from sustainable development (SD). Design/methodology/approach A combination of literature-based analysis was employed by considering concepts from corruption and development. A synthesis of these two concepts leads to the development of the conceptual framework. Findings The findings shows that corruption originates from three main sources, and that the effect of corruption on development might differ depending on how it is conceptualized, but the spate of corruption is contingent on institutional quality and gains in previous development trajectory. Originality/value Relating the concept of corruption and SD and linking it to theories of development brings a sense of novelty. This paper has in its essence contributed to the conceptualization of the relationship between corruption and development which will help deepen understanding on this contentious subject. The framework will help to improve theory, research and practice in development studies and allied fields.

2020 ◽  
Vol 21 (4) ◽  
pp. 649-670
Vanessa Tibola da Rocha ◽  
Luciana Londero Brandli ◽  
Rosa Maria Locatelli Kalil

Purpose The purpose of this paper is to present an experience of inclusion of the theme “climate change” in a Brazilian public school through training conducted with teachers. Design/methodology/approach The methodology was based on three specific phases: reflection, focusing on the application of a pretest with 45 questions directed to three domains (knowledge, attitude and behavior); climate change education (CCE) training; and application of a post-test and action, regarding the insertion in the school space. Findings The survey results highlight the difficulty teachers have in understanding and applying CCE in the classroom and it underscores the importance of this approach. Research limitations/implications The research approach is related to a specific case in a school located in south of Brazil. Although the school has its own context, the reported experience can be considered elsewhere. Practical implications This case study reinforces that CCE presents broad challenges for the scientific community. For the reason that the understanding of the topic (CCE) is complex, considering the global context and the divergent opinions on the subject. Social implications The paper reinforces that for today’s society, sustainable development is no longer a choice but a necessity, underpinned by global Agenda 2030 discussions. In this context, teachers are essential to the transformation toward a better future. Originality/value The difficulties and facilities encountered during the experience serve to enhance new actions at national or even global level, respecting each new context of study and insertion of research directed to the theme – CCE.

2012 ◽  
Vol 69 (7) ◽  
pp. 1160-1167 ◽  
Alan C. Haynie ◽  
Lisa Pfeiffer

Abstract Haynie, A. C., and Pfeiffer, L. 2012. Why economics matters for understanding the effects of climate change on fisheries. – ICES Journal of Marine Science, 69: . Research attempting to predict the effect of climate change on fisheries often neglects to consider how harvesters respond to changing economic, institutional, and environmental conditions, which leads to the overly simplistic prediction of “fisheries follow fish”. However, climate effects on fisheries can be complex because they arise through physical, biological, and economic mechanisms that interact or may not be well understood. Although most researchers find it obvious to include physical and biological factors in predicting the effects of climate change on fisheries, the behaviour of fish harvesters also matters for these predictions. A general but succinct conceptual framework for investigating the effects of climate change on fisheries that incorporates the biological and economic factors that determine how fisheries operate is presented. The use of this framework will result in more complete, reliable, and relevant investigations of the effects of climate change on fisheries. The uncertainty surrounding long-term projections, however, is inherent in the complexity of the system.

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