Have a personal or library account? Click to login
Reflections on sustainability reporting and stewardship codes Cover

Reflections on sustainability reporting and stewardship codes

By: Aidan Horan and  Mark Mulreany  
Open Access
|Dec 2024

References

  1. Abbott, K. & Snidal, D. (2000). Hard and soft law in international governance. International Organization, 54(3), 421–56. https://doi.org/10.1162/002081800551280
  2. Barko, T., Cremers, M. & Renneboog, L. (2022). Shareholder engagement on environmental, social, and governance performance. Journal of Business Ethics, 180, 777–812. https://doi.org/10.1007/s10551-021-04850-z
  3. Bruno, G., Esakia, M. & Goltz, F. (2021). Honey, I shrunk the ESG alpha: Risk-adjusting ESG portfolio returns. Scientific Beta.
  4. Caldwell, C., Hayes, L., Bernal, P. & Karri, R. (2008). Ethical stewardship – implications for leadership and trust. Journal of Business Ethics, 78, 153–64. https://doi.org/10.1007/s10551-006-9320-1
  5. Caldwell, C., Hayes, L. & Long, D. T. (2010). Leadership, trustworthiness, and ethical stewardship. Journal of Business Ethics, 96(4), 497–512. https://doi.org/10.1108/hrmid.2011.04419bad.005
  6. Cheffins, B. (2010). The Stewardship Code’s Achilles’ heel. The Modern Law Review, 73(6), 1004–25. https://doi.org/10.1111/j.1468-2230.2010.00828.x
  7. Chiu, I. (2013). Turning institutional investors into ‘stewards’: Exploring the meaning and objectives of ‘stewardship’. Current Legal Problems, 66(1), 443–81. https://doi.org/10.1093/clp/cut005
  8. Climate Action and Low Carbon Development Act 2015. Irish Statute Book.
  9. Climate Action and Low Carbon Development (Amendment) Act 2021. Irish Statute Book.
  10. Companies Act 2014. Irish Statute Book.
  11. Companies Act 2020. Irish Statute Book.
  12. Davis, J., Schoorman, D. & Donaldson, L. (1997). Toward a stewardship theory of management. The Academy of Management Review, 22(1), 20–47. https://doi.org/10.5465/AMR.1997.9707180258
  13. Department of Public Expenditure and Reform. (2016). Code of practice for the governance of state bodies. Government of Ireland. https://assets.gov.ie/77594/5d7d2334-ee5e-419d-816f-5843999c1cbd.pdf
  14. Department of the Environment, Climate and Communications. (2024). National adaptation framework: Planning for a climate-resilient Ireland.
  15. Government of Ireland. www.gov.ie/en/publication/fbe331-national-adaptation-framework/
  16. Department of Finance. (2022). Ireland for finance. Action plan 2022.
  17. Government of Ireland. www.gov.ie/en/publication/8eac2-ireland-for-finance-action-plan-2022/
  18. European Union (EU). (2014). Directive 2014/95 of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups. Official Journal, L330/1.
  19. European Union (EU). (2017). Directive (EU) 2017/828 of the European Parliament and of the Council of 17 May 2017 amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement. Official Journal, L132/1.
  20. European Union (EU). (2019a). Regulation (EU) 2019/2089 of the European Parliament and of the Council of 27 November 2019 amending Regulation (EU) 2016/1011 as regards EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability-related disclosures for benchmarks. Official Journal, L317/17.
  21. European Union (EU). (2019b). Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability related disclosures in the financial services sector. Official Journal, L317/1.
  22. European Union (EU). (2020). Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088. Official Journal, L198/13.
  23. European Union (EU). (2022). Directive (EU) 2022/2464 of the European Parliament and of the Council of 14 December 2022 amending Regulation (EU) No 537/2014, Directive 2004/109/EC, Directive 2006/43/EC and Directive 2013/34/EU, as regards corporate sustainability reporting. Official Journal, L322/15.
  24. European Union (EU). (2023). Commission Delegated Regulation (EU) 2023/2772 supplementing Directive 2013/34/EU of the European Parliament and of the Council as regards sustainability reporting standards. Official Journal, L2023/2772.
  25. Financial Reporting Council (FRC). (2010). The UK stewardship code 2010.
  26. Financial Reporting Council (FRC). (2018). UK corporate governance code 2018.
  27. Financial Reporting Council (FRC). (2020). The UK stewardship code 2020.
  28. Financial Reporting Council (FRC). (2022). Review of stewardship reporting 2022.
  29. Financial Reporting Council (FRC). (2024). UK corporate governance code 2024.
  30. Fink, L. (2021). Larry Fink’s 2021 letter to CEOs. BlackRock. www.blackrock.com/corporate/investor-relations/2021-larry-fink-ceo-letter
  31. Friede, G., Busch, T. & Bassen, A. (2015). ESG and financial performance: aggregated evidence from more than 2000 empirical studies. Journal of Sustainable Finance & Investment, 5(4), 210–33. https://doi.org/10.1080/20430795.2015.1118917
  32. Global Reporting Initiative (GRI) & SASB. (2021). A practical guide to sustainability reporting using GRI and SASB Standards.
  33. Government of Ireland. (2023). Climate action plan 2024. www.gov.ie/en/publication/79659-climate-action-plan-2024/
  34. International Sustainability Standards Board (ISSB). (2023a). IFRS S1 General requirements for disclosure of sustainability-related financial information.
  35. International Sustainability Standards Board (ISSB). (2023b). IFRS S2 Climate related disclosures.
  36. Khan, M., Serafeim, G. & Yoon, A. (2015). Corporate sustainability: first evidence on materiality. The Accounting Review, 91(6), 1697–724. http://dx.doi.org/10.2139/ssrn.2575912
  37. Klabbers, J. (1996). The redundancy of soft law. Nordic Journal of International Law, 65, 167–82.
  38. Klabbers, J., (1998). The undesirability of soft law. Nordic Journal of International Law, 67(4), 381–91.
  39. Klettner, A. (2021). Stewardship codes and the role of institutional investors in corporate governance: an international comparison and typology. British Journal of Management, 32(4), 988–1006. https://doi.org/10.1111/1467-8551.12466
  40. Leahy, P. (2017, 25 June). Varadkar asks for package to fight white collar crime. The Irish Times.
  41. Masters, B. (2024, 28 October). Blackrock puts climate on the back burner. Financial Times.
  42. New Economy and Recovery Authority (NewERA). (2022). Climate action plan 2021 action 55: Framework for the commercial semi-state sector to address climate action objective. National Treasury Management Agency.
  43. New Economy and Recovery Authority (NewERA). (2024). Climate action framework for the commercial semi-state sector Q3-2023 implementation update. National Treasury Management Agency.
  44. Organisation for Economic Co-operation and Development (OECD). (1999). Principles of corporate governance.
  45. Organisation for Economic Co-operation and Development (OECD). (2015). G20/OECD principles of corporate governance.
  46. Organisation for Economic Co-operation and Development (OECD). (2018). OECD due diligence guidance for responsible business conduct.
  47. Organisation for Economic Co-operation and Development (OECD). (2020). Institutional investors statistics.
  48. Organisation for Economic Co-operation and Development (OECD). (2023). G20/OECD principles of corporate governance.
  49. Organisation for Economic Co-operation and Development (OECD). (2024). Pensions markets in focus.
  50. Protected Disclosures Act, 2014. Irish Statute Book.
  51. Ryall, A. (2020, 7 August). Supreme Court ruling a turning-point for climate governance in Ireland. The Irish Times.
  52. S. I. European Union (Corporate Sustainability Reporting) Regulations 2024. Irish Statute Book.
  53. S. I. no. 360/2017- European Union (Disclosure of Non-Financial and Diversity Information by Certain Large Undertakings and Groups) Regulations 2017. Irish Statute Book.
  54. United Nations. (2011). United Nations guiding principles on business and human rights.
  55. United Nations. (2015). A/RES/70/1. Transforming our world: The 2030 Agenda for Sustainable Development Goals. https://sdgs.un.org/2030agenda
DOI: https://doi.org/10.2478/admin-2024-0032 | Journal eISSN: 2449-9471 | Journal ISSN: 0001-8325
Language: English
Page range: 167 - 188
Published on: Dec 17, 2024
Published by: The Institute of Public Administration of Ireland
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2024 Aidan Horan, Mark Mulreany, published by The Institute of Public Administration of Ireland
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.