scholarly journals Development of mandatory & voluntary instruments of sustainability reporting (SR) according to carrots & sticks 2006 - 2016

2020 ◽  
Vol 10 (1) ◽  
Author(s):  
Ririn Breliastiti
Keyword(s):  
Stock Exchange ◽  
Sustainability Reporting ◽  
Developed Countries ◽  
Asia Pacific ◽  
Annual Reports ◽  
Global Reporting Initiative ◽  
Environmental Reporting ◽  
Government Regulations ◽  
The World ◽  
The Government

Sustainability Report (SR) has become one of the main reports of the world's leading companies. In 2005, it was found that more than 250 top companies listed on the Fortune 500 had prepared SR separately from the Annual Report. The development of the number of SRs in each country varies. In the developed countries, awareness to compile and issue SR is supported by government regulations so that SR becomes mandatory. In developing countries, SR is still voluntary because there is still no regulation that requires companies to compile and issue SR. The Carrots & Sticks report, compiled and published by KPMG, United Nations Environment Program, Unit for Corporate Governance in Africa & the Global Reporting Initiative (GRI), provided details on the development of mandatory and voluntary instruments in implementing Sustainability Reporting (SR) in various Countries throughout the world from 2006 to 2016. Therefore, this research aims to find out the development of the mandatory and voluntary instruments (government policies) related to SR in the world. This type of research is a literature review. The research instrument used consists of a tabulation containing the development of the mandatory and voluntary instruments (government policy) related to SR in the world, then the researcher conducted an analysis of these findings. The results show that there is an increasing enthusiasm for the application of SR throughout the world. There is an increase in commitment and efforts to achieve transparency and accountability. In countries that have an interest in SR, there has been a significant development, such as 19 countries in 2006, 32 countries in 2010, 45 countries and regions in 2013, and 71 countries and regions in 2016. Indonesia is one of the countries in the Asia Pacific region that has given attention to SR and has its regulations. SR regulations have grown from 180 in 2013 to 400 in 2016, with government regulations dominating 80% of all regulations. Mandatory instruments dominate more than voluntary instruments. Application of SR 30% is for large companies that have been listed on the stock exchange. SR reporting by public companies has covered all sectors on the stock exchange. This development was greatly influenced by the role of the government which encouraged companies to disclose information about sustainability in their annual reports. "Social" reporting instruments show a faster development than "environmental" reporting instruments. 

scholarly journals Determinants of Environmental Disclosure in Thai Corporate Annual Reports

2012 ◽  
Vol 2 (1) ◽  
pp. 99 ◽  
Author(s):  
Muttanachai Suttipun ◽  
Patricia Stanton
Keyword(s):  
Information Disclosure ◽  
Stock Exchange ◽  
Developed Countries ◽  
Environmental Information ◽  
Annual Reports ◽  
Environmental Reporting ◽  
Environmental Disclosure ◽  
Industry Group ◽  
Common Location ◽  
Simple Sampling

This study investigated the extent and content of environmental information disclosure provided in the annual reports of companies listed on the Stock Exchange of Thailand (SET), and tested whether there were any relationships between the amount of environmental disclosure and a number of company characteristics used in previous studies conducted in more developed countries. By using a simple sampling method, 75 listed companies were selected for inclusion in the study based on their 2007 annual reports. The findings indicate that 62 companies (83%) provided environmental information in their annual reports. Companies in the resources industry group made the most disclosure of environmental information, while the least disclosure was made by companies in the agricultural and food industries group. The most common location of environmental reporting in annual reports was under the topic of corporate governance. The most common themes of disclosures were environmental policy, environmental activities, and waste management. There was a positive relationship between the amount of environmental disclosures and size of company.

scholarly journals Do the Banks Comply to GRI guidelines for Sustainable Reporting Practices? Empirical Evidence from Bangladesh

2020 ◽  
Vol 2 (2) ◽  
pp. 10-30
Author(s):  
Tanmay Biswas ◽  
Moudud-Ul-Huq Syed ◽  
Brishti Chakraborty ◽  
Reshma Pervin Lima ◽  
Shakila Jahan
Keyword(s):  
Stock Exchange ◽  
Theoretical Perspective ◽  
Sustainability Reporting ◽  
Annual Reports ◽  
Global Reporting Initiative ◽  
Public And Private ◽  
Reporting Practices ◽  
Secondary Sources ◽  
Commerce Law ◽  
Development Goals

This paper explores the degree and nature of sustainability reporting practices of listed banks in Bangladesh in compliance with the Global Reporting Initiative (GRI) guidelines. Data are gathered from annual reports through content analysis of 29 banks listed in the Dhaka   Stock   Exchange (DSE) and Chittagong Stock Exchange (CSE) for the period between 2011 and 2018. Stakeholder and legitimacy theory is the theoretical perspective underlying the study. The findings of the study revealed that 0% in 2011 and 17.14% in 2018 disclosed sustainability reports in line with GRI. On the other hand, the disclosure of sustainability information trend has increased from 32% in 2011 to 59% in 2018 considering 22 categories of information where most of the banks disclosed the highest information relating to green banking (C7) least information relating to public policy (C19). The major limitations of the study are the size of the sample, only secondary sources of data, and descriptive. This study only involved 29 listed banks in DSE and CSE. The policymakers (Bangladesh Bank, Ministry of finance, commerce, law, and environment), management of the respective organization, the NGOs, and professional accounting bodies can progress to enact and amend corporate laws for effective sustainable reporting design for the public and private entities. This research recognizes the gap of sustainable reporting practices to implement the vision of 5'ps (people, prosperity, partnership, peace, and the planet) according to UN Sustainable Development Goals (SDGs) 2030.

scholarly journals Board Diversity and Sustainability Reporting: Evidence from Industrial Goods Firms

2020 ◽  
Vol 64 (4) ◽  
pp. 377-398
Author(s):  
Saidu Musa ◽  
◽  
Nusirat Gold ◽  
Hope Aifuwa ◽  
◽  
...  
Keyword(s):  
Social Impact ◽  
Stock Exchange ◽  
Sustainability Reporting ◽  
Annual Reports ◽  
Global Reporting Initiative ◽  
Least Squares Regression ◽  
Board Diversity ◽  
Financial Reports ◽  
The Sustainable Development ◽  
Sustainability Disclosure

The sustainable development goals (SDGs) adopted by all the United Nations member countries were to reduce the social and ecological outcome of businesses and governments across the globe, among others. Businesses can key into this agenda by disclosing their economic, environmental and social impact in their financial reports. However, in Nigeria, the extent of sustainability reporting amongst firms is still low and not a listing requirement. Against this backdrop, this study investigated the influence of a diverse board on the extent of sustainability reporting in listed industrial goods firms on the Nigerian Stock Exchange from the period 2014-2018. We developed a sustainability disclosure index using the Global Reporting Initiative (GRI) guidelines to score the information content of annual reports relating to sustainability performance. Nationality, age and educational level were used to proxy diversity in the boardroom. The study also used descriptive and inferential statistics to summarize the data and to draw an inference on the population studied. Our study failed to validate the theoretical framework - StakeholderDependency Theory used in the study, as results from the panel least squares regression revealed that age diversity in the boardroom negatively and significantly affects the extent of sustainability reporting. Furthermore, we found no evidence on the nexus between nationality diversity and sustainability reporting; and education level diversity and sustainability reporting. The study concluded that diversity in boardroom influences the extent of sustainability reporting in Nigeria. This study recommends that firms should increase the representation of foreign directors in the boardroom because they add value and a wealth of experience to the board.

scholarly journals The Effect of Eco-efficiency and Size on Company Value Listed on the Indonesia Stock Exchange

2020 ◽  
Vol 6 (1) ◽  
pp. 58
Author(s):  
Msy. Mikial ◽  
Taufiq Marwa ◽  
Luk Luk Fuada ◽  
Inten Meutia
Keyword(s):  
Stock Exchange ◽  
Sustainability Reporting ◽  
Partial Least Square ◽  
Least Square ◽  
Annual Reports ◽  
Global Reporting Initiative ◽  
Company Size ◽  
Company Value ◽  
Use Of Resources ◽  
Sustainability Disclosure

This study aims to empirically examine the effect of eco-efficiency and company size on the value of companies listed on the Indonesia Stock Exchange. The data used are secondary data obtained from annual reports and sustainability reports of companies listed on the Indonesia Stock Exchange from 2013 to 2016. The number of observations in this study is 80. The instrument used to analyze is Partial Least Square. The novelty in this study is that eco-efficiency is calculated by comparing the amount of net sales to energy consumption, and to measure a company size with a proxy for the number of sales. The results of this study indicate that eco-efficiency has an influence on company value. The direction of influence is negative, meaning that the better the eco-efficiency, the lower the value of the company. Company size does not affect the value of the company, in the sense that the sale value does not cause the value of the company to experience better changes, because the value of the company is more influenced by the assets owned by the company. The limitation of this study is that the amount of energy sources used is difficult to obtain, so the study population is limited to companies listed on the IDX that have a Sustainability Reporting and are included in the Sustainability Disclosure Database from the Global Reporting Initiative (GRI), which is not large. In the future it is expected that companies responsible for the environment implement environmental management accounting with eco-efficiency assessment indicators so as to reduce costs and environmental impacts by making more efficient use of resources so as to increase company value.

scholarly journals Environmental and social responsibility reporting. Do Macedonian companies disclose those information and how?

2015 ◽  
Vol 8 (2) ◽  
pp. 220-231
Author(s):  
Jadranka Mrsik ◽  
Ninko Kostovski
Keyword(s):  
Environmental Impact ◽  
Social Responsibility ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Annual Reports ◽  
Regulatory Body ◽  
Environmental Reporting ◽  
Financial Reports ◽  
The Government ◽  
Transparency And Disclosure

Abstract Incorporating environmental impact into financial reports is becoming standard practice in the 21st Century. Investors are aware of the need for environmentally correct operations since failures in this domain lower the price of shares. However, in terms of regulation, in most of the countries, environmental reporting remains voluntary. Institutions dealing with development and promotion of the modern accounting and financial reporting standards encourage companies to concurrently report for their environmental activities. The only question is how. Accounting may include information on the environmental impact only if it is quantitative and monetary. Since many nuances of the issues remain difficult to quantify, corporations opt to separately report on their environmental practices. The aim of this paper is to examine the accounting and stock market regulations and the practice of reporting for environmental impact of the operations of the leading Macedonian companies. We selected ten companies that make the Macedonian Stock Exchange Index and additional five companies with significant environmental impact. We reviewed their annual reports and interviewed their financial officers. The results show that the environmental and social responsibility reporting is left to the companies and their management and its perception of the need for keeping posted the major stakeholders and the most appropriate way to do it. As a consequence, many large Macedonian companies do not refer to these issues in their annual addressing to the stakeholders. The findings of this paper can motivate the regulatory body and the government to require more transparency and disclosure of the sustainability information.

scholarly journals Ownership structure and environmental disclosure in MENA emerging countries

2016 ◽  
Vol 13 (4) ◽  
pp. 381-388 ◽  
Author(s):  
Mejda Mahmoudi Akrout ◽  
Hakim Ben Othman
Keyword(s):  
Ownership Structure ◽  
Middle Eastern ◽  
Listed Companies ◽  
Annual Reports ◽  
Global Reporting Initiative ◽  
Government Ownership ◽  
Environmental Reporting ◽  
Environmental Disclosure ◽  
Mena Countries ◽  
The Government

This study examines the association of ownership structure with the environmental disclosure of listed companies in the Middle Eastern and North African (MENA) emerging markets. A self-constructed environmental disclosure score based on the framework of the Global Reporting Initiative (GRI) was used. Investigating a sample of 347 annual reports, we calculate the score for listed companies pertaining to 10 MENA countries. Our results revealed that the majority of companies in our study provide a separate section for environmental issues on their annual reports. In addition, multivariate analysis shows that there is a negative association between family ownership and environmental disclosures. However, the presence of the government ownership is likely to improve corporate environmental reporting practice. This paper is of value in that it enlarges the scope of previous studies on environmental disclosure through its inclusion of other regions of the world.

Stock Market Reaction on Green-Bond Issue: Evidence from Indian Green-Bond Issuers

2021 ◽  
pp. 097226292110225
Author(s):  
Rakesh Kumar Verma ◽  
Rohit Bansal
Keyword(s):  
Stock Returns ◽  
Financial Institutions ◽  
Stock Price ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
Developed Countries ◽  
Low Carbon ◽  
Bond Issue ◽  
The Government ◽  
The Impact

Purpose: A green bond is a financial instrument issued by governments, financial institutions and corporations to fund green projects, such as those involving renewable energy, green buildings, low carbon transport, etc. This study analyses the effect of green-bond issue announcement on the issuer’s stock price movement. It shows the reaction of the stock price after the issue of green bonds. Methodology: This study is based on secondary data. Green-bond issue dates have been collected from newspaper articles from different online sources, such as Business Standard, The Economic Times, Moneycontrol, etc. The closing prices of stocks have been taken from the NSE (National Stock Exchange of India Limited) website. An event window of 21 days has been fixed for the study, including the 10 days before and after the issue date. Data analysis is carried out through the event study method using the R software. Calculation of abnormal returns is done using three models: mean-adjusted returns model, market-adjusted returns model and risk-adjusted returns model. Findings: The results show that the issue of green bonds has a significant positive effect on the stock price. Returns increase after the green-bond issue announcement. Although the announcement day shows a negative return for all the samples taken for the study, the 10-day cumulative abnormal return (CAR) is positive. Thus, green-bond issues lead to positive sentiments among investors. Research implications: This research article will help the government issue more green bonds so that the proceeds can be utilized for green projects. The government should motivate corporations and financial institutions to issue more green bonds to help the economy grow. In India, very few organizations have issued a green bond. It will be beneficial if these players issue green bonds, as it will increase the firms’ value and boost returns to the investors. Originality/value: The effect of green-bond issue on stock returns has been analysed in some studies in developed countries. This is the first study to examine the impact of green-bond issue on stock returns in the Indian context, to the best of our knowledge.

scholarly journals Independent board of directors and corporate sustainability: A South African and Nigerian perspective

2014 ◽  
Vol 3 (1) ◽  
pp. 58-68
Author(s):  
Collins Ngwakwe ◽  
Fortune Ganda ◽  
Oladele John Akinyomi
Keyword(s):  
South Africa ◽  
Sustainable Development ◽  
South African ◽  
Stock Exchange ◽  
Corporate Sustainability ◽  
Annual Reports ◽  
Independent Directors ◽  
Environmental Reporting ◽  
Sustainability Disclosure

This paper examined the stance of independent directors on corporate sustainable development initiative in South Africa and Nigeria. This has become apposite considering the role of independent directors in corporate strategic decisions and performance. It is believed that independent boards strive to direct corporate decisions to protect the investors and thus improve financial performance. Given that sustainability initiative is currently occupying a vital strategic position in protecting firms against inherent and imminent climate change and financial risks, the paper undertakes a survey of South African and Nigerian companies to ascertain the role of independent directors on corporate sustainable development initiatives. Using a mix method of primary and secondary data analysis, the paper finds that independent boards in both countries of study understand the importance of sustainability; however a pragmatic stance on sustainability is more visible in South Africa where independent boards are members of and/or participate in nominating corporate sustainability committees. The paper suggests the need for improved detailed disclosure on sustainability in the Nigerian corporate annual reports; the Nigerian Stock Exchange may boost this initiative by establishing a social and environmental reporting index supported by an annual survey of company sustainability disclosure. It also suggests the need to include sustainability awareness and interest in the metrics that are used in the appointment of independent boards in Nigerian companies

Corporate Social, Environmental, and Governance Reporting and Firm's Characteristics

2019 ◽  
pp. 697-721
Author(s):  
Md. Nazrul Islam ◽  
Mohammad Ashraful Ferdous Chowdhury ◽  
Mehedi Hasan Tuhin ◽  
Md. Masud Sarker
Keyword(s):  
Fixed Effects ◽  
Banking Sector ◽  
Positive Impact ◽  
Stock Exchange ◽  
Annual Reports ◽  
Environmental Reporting ◽  
Reporting Practices ◽  
The Social ◽  
Social Environmental ◽  
Corporate Social

The study aimed to explore the social, environmental and governance (SEG) reporting practices of Banking sector of Bangladesh. In conducting the study, the longitudinal data has been used over the period 2000-2015 taking all the 30listed private commercial banks in Dhaka Stock Exchange Limited. Three separate reporting index for social, environmental and governance have been developed to measure reporting practices using the dichotomous method from the published annual reports of banks. The analysis found that corporate social, environmental and governance reporting has been increased over the study period. The statistical measure showed that social, governance and environmental reporting were made 46%, 49% and 1% respectively over the period while total SEGwas 39% over the period. The econometrics models using fixed effects showed that corporate profitability, size, age and leverage have positive impact on SEG reporting. The main cause of low SEG reporting could be due to the insufficient laws and framework of SEG reporting.

Implementation of a Health Information Systems Programme

2005 ◽  
pp. 420-426
Author(s):  
Zubeeda Banu Quraishy
Keyword(s):  
Developing Countries ◽  
United Nations ◽  
Developed Countries ◽  
Information And Communications Technology ◽  
Asia Pacific ◽  
Advisory Group ◽  
State Governments ◽  
Large Growth ◽  
The United Nations ◽  
The Government

In general, developed countries in the world is where Information and Communications Technology (ICT) is in an advanced state, governments in developing countries particularly in the Asia- Pacific region are only in the initial phases of adopting ICT. ICT has demonstrated benefits for governments in developing countries to improve management, information and reporting, streamline the delivery of government services, enhance communication with the citizenry, and serve as a catalyst for empowering citizens to interact with the government. The United Nations Development Programme (UNDP, 2001) considers that ICT is a useful tool for developing countries to progress and leapfrog to the applications applied in the developed world. The Indian draft report on ICT and Human Development records that in the 21st century there is large growth and diversification of the ICT sector in India particularly in areas of agriculture and in service sectors (UNDP, 2004). The United Nations even has an ICT advisory group with representatives from governments of developing countries and the industry (Singh, 2001).

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