GRI – Reporting Chemical Sector's Environmental Item Disclosures
In this content analysis research note the aim was to explore to how sustainability and especially environmental issues are conveyed into environmental items in annual reports and disclosures. As The Global Reporting Initiative (GRI) is a globally wide multistakeholder process, the enterprises using voluntarily GRI framework are considered to be aware of sustainability and environmental concerns. The findings were that although these enterprises included in an environmentally sensitive industry sector and had special capabilities to consider environmental issues there were few GRIreporting enterprises presented substantially detailed environmental items in audited financial statements. There were only slight differences between publishing years 2008 and 2009 - the beginning years of economic turmoil. The environmental issues seemed not to be considered substantial enough for financial reporting as a basis for concerning investment or voting decisions.
[1] Adams C.A & Frost G. R., "Managing social and environmental
performance: Do companies have adequate information?", Australian
Accounting Review 32, 2008, 288-302.
[2] Blacconiere W.G. & Patten D.M., "Environmental disclosures,
regulatory costs, and changes in firm value", Journal of Accounting and
Economics 18, 1994, 357-377.
[3] Cetindamar D. & Husoy K., "Corporate Social Responsibility Practices
and Environ-mentally Responsible Behaviour: The Case of The United
Nations Global Compact", Journal of Business Ethics, 2007, 76:163-
176.
[4] Chong H.G. & Vinten G., "Materiality Thresholds Defined by Courts:
The UK Evidence", The Journal of Asset Protection and Financial
Crime Vol. 2 Nr. 3., 2007, 234-255.
[5] Criado-Jime'nez I., Ferna'ndez-Chulia'n M., Javier Husillos-Carque' F.
& Larrinaga-Gonza'lez C., "Compliance with Mandatory Environmental
Reporting in Financial Statements: The Case of Spain (2001-2003)",
Journal of Business Ethics, 2008, 79:245-262.
[6] Elkington J., "Triple bottom-line reporting: Looking for balance",
Australian CPA, 69, 2, 1999, 18-21.
[7] Foster B.P., McClain G, & Shastri T., "A note on perceptions of
auditors- internal control report mandated by the PCAOB: Can
reformatting the report enhance perceived value added?, " Research in
Accounting Regulation, Vol. 21, Issue 1, April 2009. 63-67.
[8] Freedman M. & Stagliano A. J., "Environmental disclosure by
companies involved in initial public offerings," Auditing &
Accountability Journal Vol. 15, Iss. 1; 2002, pg. 94, 12.
[9] Gray R. & Symon, I.. "An environmental audit by any other name",
Integrated Environmental Management 6, 1992, 9-11.
[10] Guthrie J., Cuganesan, S. & Ward L., "Industry specific social and
environmental re-porting: The Australian Food and Beverage Industry",
Accounting Forum 32, 2008, 1-15.
[11] Hamilton G. & ├ôh├ôgartaigh C., "The Third Policeman: ÔÇÿThe true and
fair view-, language and the habitus of accounting", Critical
Perspectives on Accounting, Volume 20, Issue 8, November 2009, 910-
920.
[12] Hodder L., Koonce, L. & McAnally M.L., "SEC market risk
implications for judgment and decision making", Accounting Horizons
15 (1), 2001, 49-70.
[13] Konar S. & Cohen M., "Information As Regulation: The Effect of
Community Right to Know Laws on Toxic Emissions", Journal of env.
economics and management 32, 1997, 109 124.
[14] KPMG & UNEP, Carrots and sticks for starters- Current trends and
approaches in Voluntary and Mandatory Standards for Sustainability
Reporting, 2006, KPMG-s Global sustainability services and United
Nations Environment Programme.
[15] Linsley P.M. & Shrives P.J., "Risk reporting: A study of risk disclosures
in the annual reports of UK companies", The British Accounting Review,
Vol. 38, Issue 4, December 2006. 387-404.
[16] Llena F., Moneva J. M. & Hernandez B. "Environmental Disclosures
and Compulsory Accounting Standards: The Case of Spanish Annual
Reports", Business Strategy and the Environment 16(1), 2007, 50-63.
[17] McEnroe J.E. "Perceptions of the effects of the effect of Sarbanes-Oxley
on earnings management practices", Research in Accounting Regulation,
Volume 19, 2007, 137-157.
[18] Mobus, J. L., "Mandatory Environmental Disclosures in a Legitimacy
Theory Context", Accounting, Auditing and Accountability Journal
18(4), 2005, 492-517.
[19] Repetto R., "Protecting investors and the environment through financial
disclosure" Utilities Policy 2005, 13 51-68.
[20] Sinclair-Desgagné B. & Gozlan E., "A theory of environmental risk
disclosure", Journal of Environmental Economics and Management,
Volume 45, Issue 2, Supplement 1, March 2003, Pages 377-393.
[21] Stone A. & Delistraty D., "Sources of toxicity and exposure information
for identifying chemicals of high concern to children", Environmental
Impact Assessment Review, 2010, Volume 30, Issue 6, November 2010,
Pages 380-387.
[1] Adams C.A & Frost G. R., "Managing social and environmental
performance: Do companies have adequate information?", Australian
Accounting Review 32, 2008, 288-302.
[2] Blacconiere W.G. & Patten D.M., "Environmental disclosures,
regulatory costs, and changes in firm value", Journal of Accounting and
Economics 18, 1994, 357-377.
[3] Cetindamar D. & Husoy K., "Corporate Social Responsibility Practices
and Environ-mentally Responsible Behaviour: The Case of The United
Nations Global Compact", Journal of Business Ethics, 2007, 76:163-
176.
[4] Chong H.G. & Vinten G., "Materiality Thresholds Defined by Courts:
The UK Evidence", The Journal of Asset Protection and Financial
Crime Vol. 2 Nr. 3., 2007, 234-255.
[5] Criado-Jime'nez I., Ferna'ndez-Chulia'n M., Javier Husillos-Carque' F.
& Larrinaga-Gonza'lez C., "Compliance with Mandatory Environmental
Reporting in Financial Statements: The Case of Spain (2001-2003)",
Journal of Business Ethics, 2008, 79:245-262.
[6] Elkington J., "Triple bottom-line reporting: Looking for balance",
Australian CPA, 69, 2, 1999, 18-21.
[7] Foster B.P., McClain G, & Shastri T., "A note on perceptions of
auditors- internal control report mandated by the PCAOB: Can
reformatting the report enhance perceived value added?, " Research in
Accounting Regulation, Vol. 21, Issue 1, April 2009. 63-67.
[8] Freedman M. & Stagliano A. J., "Environmental disclosure by
companies involved in initial public offerings," Auditing &
Accountability Journal Vol. 15, Iss. 1; 2002, pg. 94, 12.
[9] Gray R. & Symon, I.. "An environmental audit by any other name",
Integrated Environmental Management 6, 1992, 9-11.
[10] Guthrie J., Cuganesan, S. & Ward L., "Industry specific social and
environmental re-porting: The Australian Food and Beverage Industry",
Accounting Forum 32, 2008, 1-15.
[11] Hamilton G. & ├ôh├ôgartaigh C., "The Third Policeman: ÔÇÿThe true and
fair view-, language and the habitus of accounting", Critical
Perspectives on Accounting, Volume 20, Issue 8, November 2009, 910-
920.
[12] Hodder L., Koonce, L. & McAnally M.L., "SEC market risk
implications for judgment and decision making", Accounting Horizons
15 (1), 2001, 49-70.
[13] Konar S. & Cohen M., "Information As Regulation: The Effect of
Community Right to Know Laws on Toxic Emissions", Journal of env.
economics and management 32, 1997, 109 124.
[14] KPMG & UNEP, Carrots and sticks for starters- Current trends and
approaches in Voluntary and Mandatory Standards for Sustainability
Reporting, 2006, KPMG-s Global sustainability services and United
Nations Environment Programme.
[15] Linsley P.M. & Shrives P.J., "Risk reporting: A study of risk disclosures
in the annual reports of UK companies", The British Accounting Review,
Vol. 38, Issue 4, December 2006. 387-404.
[16] Llena F., Moneva J. M. & Hernandez B. "Environmental Disclosures
and Compulsory Accounting Standards: The Case of Spanish Annual
Reports", Business Strategy and the Environment 16(1), 2007, 50-63.
[17] McEnroe J.E. "Perceptions of the effects of the effect of Sarbanes-Oxley
on earnings management practices", Research in Accounting Regulation,
Volume 19, 2007, 137-157.
[18] Mobus, J. L., "Mandatory Environmental Disclosures in a Legitimacy
Theory Context", Accounting, Auditing and Accountability Journal
18(4), 2005, 492-517.
[19] Repetto R., "Protecting investors and the environment through financial
disclosure" Utilities Policy 2005, 13 51-68.
[20] Sinclair-Desgagné B. & Gozlan E., "A theory of environmental risk
disclosure", Journal of Environmental Economics and Management,
Volume 45, Issue 2, Supplement 1, March 2003, Pages 377-393.
[21] Stone A. & Delistraty D., "Sources of toxicity and exposure information
for identifying chemicals of high concern to children", Environmental
Impact Assessment Review, 2010, Volume 30, Issue 6, November 2010,
Pages 380-387.
@article{"International Journal of Business, Human and Social Sciences:62612", author = "M. Suutari", title = "GRI – Reporting Chemical Sector's Environmental Item Disclosures", abstract = "In this content analysis research note the aim was to explore to how sustainability and especially environmental issues are conveyed into environmental items in annual reports and disclosures. As The Global Reporting Initiative (GRI) is a globally wide multistakeholder process, the enterprises using voluntarily GRI framework are considered to be aware of sustainability and environmental concerns. The findings were that although these enterprises included in an environmentally sensitive industry sector and had special capabilities to consider environmental issues there were few GRIreporting enterprises presented substantially detailed environmental items in audited financial statements. There were only slight differences between publishing years 2008 and 2009 - the beginning years of economic turmoil. The environmental issues seemed not to be considered substantial enough for financial reporting as a basis for concerning investment or voting decisions.
", keywords = "Environmental, reporting, financial, GRI.", volume = "4", number = "6", pages = "1411-7", }
