Have a personal or library account? Click to login
The Importance of EU Taxonomy for Sustainable Development Reporting. Case Study of Entities Listed on the Warsaw Stock Exchange in Poland Cover

The Importance of EU Taxonomy for Sustainable Development Reporting. Case Study of Entities Listed on the Warsaw Stock Exchange in Poland

Open Access
|Sep 2024

References

  1. M. Amini, A. Rahmani, “Achieving Financial Success by Pursuing Environmental and Social Goals: A Comprehensive Literature Review and Research Agenda for Sustainable Investment World”, Information Technology and Engineering Journal, Vol. 10 (04), 2023.
  2. A. Doś, Czynniki społecznej odpowiedzialności przedsię-biorstw – ujęcie systemowe, Wydawnictwo Uniwersytetu Ekonomicznego w Katowicach, 2020, pp. 21-23.
  3. ISO 26000, Guidance on social responsibility of the International Organization for Standardization https://www.iso.org/standard/42546.html, 2010
  4. M. Sira, “Potential of Advanced Technologies for Environmental Management Systems” Management Systems in Production Engineering, vol. 32 (1), pp. 33-44, 2024, https://doi.org/10.2478/mspe-2024-0004
  5. 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, https://eur-lex.europa.eu/legal-content/PL/TXT/?uri=CELEX%3A32022L2464
  6. Directive 2014/95/EU 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 Text with EEA relevance, https://eur-lex.europa.eu/eli/dir/2014/95/oj
  7. Commission Delegated Regulation (EU) 2021/2178 of 6 July 2021 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by specifying the content and presentation of information to be disclosed by undertakings subject to Articles 19a or 29a of Directive 2013/34/EU concerning environmentally sustainable economic activities, and specifying the methodology to comply with that disclosure obligation
  8. Commission Delegated Regulation [EU] 2023/2486 of 27 June 2023 supplementing Regulation [EU] 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to the sustainable use and protection of water and marine resources, to the transition to a circular economy, to pollution prevention and control, or to the protection and restoration of biodiversity and eco-systems and for determining whether that economic activity causes no significant harm to any of the other environmental objectives and amending Commission Delegated Regulation [EU] 2021/2178 as regards specific public disclosures for those economic activities
  9. D. Daugaard, “Emerging new themes in environmental, social and governance investing: a systematic literature review, Accounting and Finance, vol. 60 (2), pp. 1501-1530, 2020. https://doi.org/10.1111/acfi.12479,
  10. S. Czaja, A. Becla, „A system for accounting the costs of contemporary negative environmental phenomena – some methodological remarks: none”, Ekonomia i Środowisko. Economics and Environment, Vol. 80(1), pp. 6-20, 2022.
  11. D.M. Merkl-Davies, N.M. Brennan, “A Conceptual Frame-work of Impression Management: New Insights from Psychology, Sociology, and Critical Perspectives”, Accounting and Business Research Vol. 41(5), pp. 415-437. 2011 DOI: 10.1080/00014788.2011.574222
  12. K. Bewley and Y. Li, “Disclosure of environmental information by Canadian manufacturing companies: A voluntary disclosure perspective,” Advances in Environmental Accounting & Management, vol. 1, pp. 201-226, 2000. https://doi.org/10.1016/S1479-3598(00)01011-6
  13. European Banking Authority Report on ESG risks management and supervision, 2021. https://www.eba.europa.eu/sites/default/files/document_library/Publications/Reports/2021/1015656/EBA%20Report%20on%20ESG%20risks%20management%20and%20supervision.pdf
  14. G.I.J. Kang, K. Heo, S. Jeon, “A comparison of analysts’ and investors’ information efficiency of corporate social responsibility activities”, Sustainability Accounting, Management and Policy Journal, Vol. 15 [2], pp. 547-572, 2024, DOI: 10.1108/SAMPJ-02-2023-0079
  15. C. Brooks, I. Oikonomou, “The effects of environmental, social and governance disclosures and performance on firm value: A review of the literature in accounting and finance”, British Accounting Review, Vol. 50 (1), pp. 1-15. doi: 10.1016/j.bar.2017.11.005
  16. S.A Al-Tuwaijri, T.E. Christensen, K.E Hughes II, “The relations among environmental disclosure, environmental performance, and economic performance: A simultaneous equations approach, Accounting, Organizations and Society, 29 [5-6], pp. 447-471, 2004. DOI 10.1016/S0361-3682[03]00032-1
  17. B. Carroll, K.M. Shabana, “The business case for corporate social responsibility: A review of concepts, research and practice”, International Journal of Management Reviews, 12 [1], pp. 85-105, 2010, DOI: 10.1111/j.1468-2370.2009.00275.x
  18. R. Costa, T. Menichini, “A multidimensional approach for CSR assessment: The importance of the stakeholder perception”, Expert Systems with Applications, Vol. 40 (1), pp. 150-161, 2013. https://doi.org/10.1016/j.eswa.2012.07.028
  19. R.E. Freeman, Strategic Management: A Stakeholder Approach, Boston: Pitman Publishing, 1984
  20. R.E. Freeman, R.A. Phillips, “Stakeholder theory: A libertarian defense”, Business Ethics Quarterly, Vol. 12[3], pp. 331-349, 2022. DOI: https://doi.org/10.2307/3858020,
  21. M. Orlitzky, “Corporate social responsibility, noise, and stock market volatility”, Academy of Management Perspectives, Vol. 27[3], pp. 238-254, 2013.. https://doi.org/10.5465/amp.2012.0097
  22. S. Brammer, A. Millington, “Does it pay to be different? An analysis of the relationship between corporate social and financial performance”, Strategic Management Journal, Vol. 29[12], pp. 1325-1343, 2008. https://doi.org/10.1002/smj.714
  23. L. Xin-Yi, L. Jing-Yue, Z. Yue-Jun, “Does corporate social responsibility affect stock liquidity? Evidence from China”, Finance Research Letters, Vol. 60, 2024. https://doi.org/10.1016/j.frl.2023.104854
  24. M.L. Barnett, R.M. Salomon, “Beyond dichotomy: The curvilinear relationship between social responsibility and financial performance”. Strategic Management Journal, Vol. 27[11], pp. 1101-1122 https://doi.org/10.1002/smj.557
  25. M. Greenwood, “The importance of stakeholders according to business leaders. Business and Society Review”, Vol. 106[1], pp. 29-49, 2001. https://doi.org/10.1111/0045-3609.00100.
  26. F. Cavazotte, N.C. Chang, “Internal corporate social responsibility and performance: A study of publicly traded companies”., BAR – Brazilian Administration Review, 13[4], pp. 1-19, 2016. https://doi.org/10.1590/1807-7692bar2016160083
  27. H.Y. Ali, Hafiz Yasir; R.Q. Danish, M. Asrar-ul-Haq, “How corporate social responsibility boosts firm financial performance: The mediating role of corporate image and Corporate Social Responsibility and Environmental Management, Vol. 27 (1), pp. 166-177, 2020. DOI: 10.1002/csr.1781]
  28. A. Amel-Zadeh, G. Serafeim, “Why and How Investors Use ESG Information: Evidence from a Global Survey”, Financial Analysts Journal, Vol. 74 (3), pp. 87-103, 2018. DOI: 10.2469/faj.v74.n3.2
  29. J. Krasodomska, “Sprawozdawczość przedsiębiorstw w świetle teorii legitymizacji,” Studia i Prace Kolegium Zarządzania i Finansów, no. 13, pp. 39-51, 2013.
  30. K. Kwadjo; A. Donkor, “Integrated reporting quality and sustainability performance: does firms’ environmental sensitivity matter?” Journal of Accounting in Emerging Economies, Vol. 14 (1), pp. 25-47, 2024. DOI: 10.1108/JAEE-02-2022-0058
  31. Z. Yang, T.T.H. Nguyen, H.N. Nguyen, T.T.N. Nguyen, T.T. Cao, “Greenwashing behaviours: causes, taxonomy and consequences based on a systematic literature review”, Journal of Business Economics and Management, Vol. 21[5], pp. 1486-1507, 2020. https://doi.org/10.3846/jbem.2020.13225
  32. D. Beerbaum, “The search for an holistic ESG Taxonomy”, SSRN Electronic Journal, 2022, DOI:10.2139/ssrn.4748528
  33. Communication from the Commission to the European Parliament, the European Council, the Council, the European Economic and Social Committee and the Committee of the Regions the European Green Deal COM/2019/640 final, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM%3A2019%3A640%3AFIN
  34. 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, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32020R0852
  35. Commission Delegated Regulation [EU] 2021/2139 of 4 June 2021 supplementing Regulation [EU] 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to climate change mitigation or climate change adaptation and for determining whether that economic activity causes no significant harm to any of the other environmental objectives, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32021R2139
  36. F. Schütze, J. Stede, M. Blauert, K. Erdmann, “EU taxonomy increasing transparency of sustainable investments”, DIW Weekly Report, Vol. 10, pp. 485-492, 2020. https://doi.org/10.18723/diw_dwr:2020-51-1
  37. C. Lucarelli, C. Mazzoli, C.M. Rancan, S. Severini, “Classification of Sustainable Activities: EU Taxonomy and Scientific Literature”, Sustainability, Vol. 12(16) 6460, 2020. https://doi.org/10.3390/su12166460
  38. G.F. Hoepner, F.I. Schneider, “EU Green Taxonomy Data – A First Vendor Survey”, Econst Voice, Vol. 6, 19(2), pp. 229-24. 2022. https://doi.org/10.1515/ev-2022-0022
  39. 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, https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX%3A32019R2088
  40. M. Mikołajek-Gocejna, “Systematic Risk of ESG Companies Listed on the Polish Capital Market in 2019-2022”, European Research Studies Journal, vol. 25 (2), 2022 https://www.um.edu.mt/library/oar/handle/123456789/101177
  41. R.E. Dumrose, S. Rink, J. Eckert, “Disaggregating confusion? The EU Taxonomy and its relation to ESG rating”, Finance Research Letters, Vol. 48, 2022. https://doi.org/10.1016/j.frl.2022.102928
  42. L. Bohdanowicz, M. Aluchna, „Determinanty dokonań pol-skich spółek publicznych w zakresie ESG”. Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, 67[4], pp. 23-33, 2023. DOI: 10.15611/pn.2023.4.03
  43. M. Aluchna, M. Roszkowska-Menkes, B. Kamiński, “From talk to action: the effects of the non-financial reporting directive on ESG performance”, Meditari Accountancy Research Vol. 31(7), 2023 pp. 1-25. 2022.
  44. KPMG 2023 Report: Setting the baseline towards transparency, https://assets.kpmg.com/content/dam/kpmg/pl/pdf/2022/10/pl-Raport-Setting-the-baseline-towards-transparency.pdf
  45. Global ESG Monitor (GEM) 2022, https://globalesgmonitor.com/the-gem-2022-regional-report-poland/
  46. https://www.orlen.pl/en/investor-relations/reports-and-publications/financial-results
  47. https://www.gkpge.pl/dla-inwestorow
  48. https://pgnig.pl/relacje-inwestorskie/prezentacje-i-mate-rialy/raporty-roczne
  49. https://kghm.com/pl/inwestorzy/centrum-wyni-kow/raporty-finansowe
  50. https://www.jsw.pl/relacje-inwestorskie/raporty-gieldowe/raporty-okresowe/raporty-okresowe-2023
  51. https://grupakety.com/relacje-inwestorskie/grupa-kety-na-gpw/raporty-okresowe-i-prezentacje/
  52. https://corporate.ccc.eu/raporty
  53. https://www.orange.pl/view/csr
  54. https://www.proto.pl/aktualnosci/wybrano-najlepsze-ra-porty-esg-w-polsce
DOI: https://doi.org/10.2478/mspe-2024-0030 | Journal eISSN: 2450-5781 | Journal ISSN: 2299-0461
Language: English
Page range: 317 - 325
Submitted on: Jan 1, 2024
|
Accepted on: Jul 1, 2024
|
Published on: Sep 5, 2024
Published by: STE Group sp. z.o.o.
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2024 Aleksandra Sulik-Górecka, Witold Biały, Marzena Strojek-Filus, published by STE Group sp. z.o.o.
This work is licensed under the Creative Commons Attribution 4.0 License.