Abstract
In the last decade, corporate reporting has undergone a radical transformation, adding sustainability reporting to traditional financial reporting. The Barnier Directive (2014/95/EU) introduced into European law the obligation for large public-interest entities to prepare and publish a non-financial statement. This document must contain information relating to the environment, the social sphere, employee matters, respect for human rights, and the fight against active and passive corruption, aimed at ensuring an understanding of the company’s activities, performance, results, and impact. Indeed, to date, managers consider it necessary to adopt a holistic approach, considering both financial and non-financial aspects, to ensure the protection of the creation of corporate value. On April 2021, the European Commission adopted a proposal of Corporate Sustainability Reporting Directive (CSRD) aiming at improving sustainability reporting in order to contribute to the transition towards a fully sustainable and inclusive economic and financial system. In this context, the topic of sustainability reporting has become relevant for companies. This paper reviews the main frameworks and standards developed by international standards available to companies, investigating the level of adoption by a sample of European listed companies.
This chapter represents the results of a joint research project carried out by the three authors. However, the various paragraphs of the paper are divided as follows: paragraphs 1 “Introduction”, 2.1 “A preliminary overview”, 2.2 “Global Reporting Initiative”, 2.3 “Sustainability Accounting Standards Board” and 6 “Conclusion” G. Dicuonzo; paragraph 2.4 “Carbon Disclosure Project”, 2.5 “Climate Disclosure Standards Board”, 3 “Literature review” and 4 “Methodology” F. Donofrio; paragraphs 2.6 “Task Force on Climate-related Financial Disclosures”, 2.7 “International Integrated Reporting Council”, 4 “Methodology” and 5 “Results and discussion” S. Ranaldo.
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Appendix A: Euro Stoxx 50
Appendix A: Euro Stoxx 50
No | Country | Company | No | Country | Company |
|---|---|---|---|---|---|
1 | Netherlands | ASML HOLDING N.V | 26 | Netherlands | KONINKLIJKE PHILIPS N.V |
2 | France | LVMH MOËT HENNESSY | 27 | France | KERING SA |
3 | Germany | SAP SE | 28 | Germany | DEUTSCHE POST AG |
4 | Germany | LINDE PLC | 29 | France | AXA |
5 | Germany | SIEMENS AG | 30 | France | SAFRAN |
6 | France | TOTAL SE | 31 | France | DANONE |
7 | France | SANOFI | 32 | France | ESSILORLUXOTTICA |
8 | Germany | ALLIANZ SE | 33 | Italy | INTESA SANPAOLO S.P.A |
9 | France | L'ORÉAL | 34 | Germany | MUENCHENER RUECKVERSICH |
10 | France | SCHNEIDER ELECTRIC SE | 35 | France | PERNOD RICARD |
11 | Spain | IBERDROLA, S.A | 36 | Germany | VONOVIA SE |
12 | Italy | ENEL S.P.A | 37 | Germany | VOLKSWAGEN AG |
13 | France | AIR LIQUIDE | 38 | Netherlands | ING GROEP N.V |
14 | Germany | BASF SE | 39 | Ireland | CRH PLC |
15 | Germany | BAYER AG | 40 | Spain | INDUSTRIA DE DISEÑO TEX |
16 | Germany | ADIDAS AG | 41 | Finland | KONE OYJ |
17 | France | AIRBUS SE | 42 | Germany | DEUTSCHE BÖRSE AG |
18 | Netherlands | ADYEN N.V | 43 | Netherlands | AHOLD DELHAIZE N.V |
19 | Germany | DEUTSCHE TELEKOM AG | 44 | Ireland | FLUTTER ENTERTAINMENT P |
20 | Germany | DAIMLER AG | 45 | Spain | AMADEUS IT GROUP, S.A |
21 | France | BNP PARIBAS | 46 | France | ENGIE |
22 | Belgium | ANHEUSER-BUSCH INBEV | 47 | Germany | BMW AG |
23 | France | VINCI | 48 | France | VIVENDI SE |
24 | Netherlands | PROSUS N.V | 49 | Italy | ENI S.P.A |
25 | Spain | BANCO SANTANDER, S.A | 50 | Finland | NOKIA OYJ |
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Dicuonzo, G., Donofrio, F., Ranaldo, S. (2022). The Jungle of Sustainability Frameworks and Standards: Evidence from European Listed Companies. In: Sklias, P., Polychronidou, P., Karasavvoglou, A., Pistikou, V., Apostolopoulos, N. (eds) Business Development and Economic Governance in Southeastern Europe. Springer Proceedings in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-031-05351-1_3
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