DOI: 10.5176/2010-4804_2.1.151
Authors: Natalja Gurvitsh, Inna Sidorova
Abstract:
Recent years have seen rapidly growing demand for transparency in companies' reporting. This trend has led to increased popularity of Corporate Sustainability Reporting - a tool regarded by many as means for companies to create additional value by implementing such aspects as social and environmental performance. This study examines social and environmental accounting disclosures in the annual reports of companies listed at NASDAQ OMX Baltic Main List in order to determine the current trend in CSR reporting. The survey was conducted among 34 companies representing various industry sectors. Authors have analyzed web-published annual reports for years 2007-2011. In the course of the survey the authors have discovered that during the research period most companies included separate sections in their annual reports covering corporate sustainability reporting and large number of companies included these disclosures in the “Letter from Member of the Management Board”, “Brief Introduction of the Company” or in a section discussing the company and its people. The study demonstrated continuous uptrend in the number of social and environmental accounting disclosures, as well as stand-alone CSR reports published by the Baltic companies. In authors’ opinion, this demonstrates that Baltic companies show strong intention to integrate sustainability reporting into their annual reports. These findings emphasize the fact, that last decade seems to have witnessed a switch from pure profit earning to sustainable earning. In authors’ opinion these changes are caused by growing efforts from various institutions and organizations worldwide to promote sustainability concept and reporting. It also seems rational that more information and support should be provided to companies with regard to sustainability reporting. This support may include: distribution of latest CSR publications, participation in worldwide conferences and seminars on the CSR, training and guidance in preparing social and environmental reports in accordance with modern corporate accountability standards.
Keywords: Corporate sustainability reporting, disclosures, environmental accounting, NASDAQ OMX Baltic, standalone report, social accounting
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