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Sustainability and Corporate Governance Disclosure in Non-Financial Reporting in Energies...
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Sustainability and Corporate Governance Disclosure in Non-Financial Reporting in Energies Companies

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (16 November 2023) | Viewed by 7051

Special Issue Editors

Prof. Dr. Elżbieta Izabela Szczepankiewicz

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Guest Editor
Department of Accounting and Financial Audit, Poznań University of Economics and Business, Al. Niepodległości 10, 61-875 Poznań, Poland
Interests: internal audit in the organization; internal control in the organization; IT systems in accounting; external audit; reporting within the entity; accounting theory; intangible assets and intellectual capital, Internal audit, sustainable accounting (accounting for sustainable development); financial reporting; non-financial reporting
Special Issues, Collections and Topics in MDPI journals
Dr. Beata Zaleska

E-Mail
Guest Editor
Department of Finance, Faculty of Economic Sciences, Koszalin University of Technology, Al. Kwiatkowskiego 6e, 75-343 Koszalin, Poland
Interests: sustainable accounting (accounting for sustainable development); financial reporting; non-financial reporting; financial audit; non-financial data validation

Special Issue Information

Dear Colleagues,

Nowadays, sustainability and corporate governance are increasingly becoming the subject of disclosures in non-financial reporting in many sectors. However, sustainability and corporate governance are rarely considered and discussed in scientific research, and are still underrepresented in the energies sector. Given new regulations and expectations of sustainability in electricity markets, sustainability and corporate governance in these entities is an important research niche.

This Special Issue invites various scholars to explore different perspectives offering new insights into creative approaches and systemic thinking as well as innovative processes for dealing with sustainability and corporate governance and their disclosure in non-financial reporting. Conceptual, theoretical, as well as empirical and inter- and transdisciplinary papers are equally welcome. The Special Issue is focused on, but not limited to, the following topics:

  • Corporate governance and sustainability in energies companies;
  • Sustainability management and disclosure in non-financial reporting in energies companies;
  • Corporate governance and disclosure in non-financial reporting in energies companies;
  • Quality of sustainability disclosure in energies companies;
  • Sustainability and corporate governance disclosure across different industries, including the background of energies companies;
  • Sustainability assessment tools in energies companies;
  • Financial and non-financial stakeholders;
  • Reaction to sustainability risk disclosure in energies companies;
  • Costs and other financial aspects in energies companies;
  • Toward sustainability accountability.

Reference

Szczepankiewicz, E.I., Mućko P. CSR Reporting Practices of Polish Energy and Mining Companies. Sustainability 2016, 8(2), 126. DOI:10.3390/su8020126.

Prof. Dr. Elżbieta Szczepankiewicz
Dr. Beata Zaleska
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • sustainability
  • corporate governance
  • non-financial reporting
  • integrated report
  • accountability
  • sustainability assessment
  • sustainability management
  • energies companies
  • electricity markets

Published Papers (4 papers)

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Research

15 pages, 1419 KiB  
Article
Sustainability Reporting in Energy Companies—Is There a Link between Social Disclosures, the Experience and Market Value?
by Hanna E. Czaja-Cieszyńska and Dominika Kordela
Energies 2023, 16(9), 3642; https://0-doi-org.brum.beds.ac.uk/10.3390/en16093642 - 24 Apr 2023
Cited by 2 | Viewed by 1561
Abstract
As a result of the dissemination of the sustainability concept, social disclosures have become an important area of non-financial reporting, and the energy sector is no exception. The purpose of our article is a multi-faceted evaluation of sustainability reports published by companies operating [...] Read more.
As a result of the dissemination of the sustainability concept, social disclosures have become an important area of non-financial reporting, and the energy sector is no exception. The purpose of our article is a multi-faceted evaluation of sustainability reports published by companies operating in the Polish energy sector, from the perspective of social disclosures. The study involved the Polish listed companies that made up the WIG-Energia index. The time scope of the study covers the 2017–2021 period. In total, 54 non-financial reports were analyzed. In the first place, a comparative analysis was carried out to assess the social disclosures made by the WIG-Energia companies against the background of the biggest and the most liquid (blue chip) WIG20 companies. All the applied tools: ESG rating, NFR_S index, and multidimensional data visualization, have confirmed that the energy companies year by year have been presenting larger and larger extents of social disclosures. At the same time, it was observed that the companies appearing for the first time in the WIG-Energia index showed a very small extent of disclosures, whereas the companies which figured in the index throughout the studied period presented a relatively large extent of disclosures, due to their experience in preparing sustainability reports. Next, using the Pearson correlation coefficient (r), we examined the relationship between the energy companies’ market values and the extent of their social disclosures. The results of the statistical analyses have validated the strong and very strong correlation between capitalization and extent of disclosures. It is therefore possible to state that companies with higher market values are characterized by larger extents of social disclosures. Full article
(This article belongs to the Special Issue Sustainability and Corporate Governance Disclosure in Non-Financial Reporting in Energies Companies)
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12 pages, 1900 KiB  
Article
Examining the Causality between Integrated Reporting and Stock Market Capitalization. The Case of the European Renewable Energy Equipment and Services Industry
by Daniela Nicoleta Sahlian, Adriana Florina Popa, Ștefania Amalia Nicoară and Corina Graziella Bâtcă-Dumitru
Energies 2023, 16(3), 1398; https://0-doi-org.brum.beds.ac.uk/10.3390/en16031398 - 31 Jan 2023
Cited by 3 | Viewed by 1402
Abstract
The International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB) of the IFRS Foundation support the integrated reporting of companies’ financial and sustainability performance to stakeholders. This paper aims to investigate whether financial and environmental, social, and corporate governance (ESG) [...] Read more.
The International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB) of the IFRS Foundation support the integrated reporting of companies’ financial and sustainability performance to stakeholders. This paper aims to investigate whether financial and environmental, social, and corporate governance (ESG) practices have a real impact on the success of the companies in the European renewable energy equipment and services industry. Using the Granger test, the causality between the market capitalization and financial indicators was established, whereas no causality was identified between the market capitalization and ESG performance. The research led to the conclusion that the investment decision is mainly based on the information provided by the financial statements of the companies, the early stages of sustainability reporting regulation, and the need for increasing the quality and availability of corporate social responsibility information for investors. Full article
(This article belongs to the Special Issue Sustainability and Corporate Governance Disclosure in Non-Financial Reporting in Energies Companies)
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32 pages, 815 KiB  
Article
Evolution of Energy Companies’ Non-Financial Disclosures: A Model of Non-Financial Reports in the Energy Sector
by Anna Bartoszewicz and Elżbieta Izabela Szczepankiewicz
Energies 2022, 15(20), 7667; https://0-doi-org.brum.beds.ac.uk/10.3390/en15207667 - 17 Oct 2022
Cited by 2 | Viewed by 1327
Abstract
In the 21st century, the disclosure of non-financial information in non-financial reports (N-FRs), in particular in Corporate Social Responsibility reports (CSRRs), integrated reports (IRs), and activity reports (ARs), has a global dimension, and the quality and scope of such disclosures affects both a [...] Read more.
In the 21st century, the disclosure of non-financial information in non-financial reports (N-FRs), in particular in Corporate Social Responsibility reports (CSRRs), integrated reports (IRs), and activity reports (ARs), has a global dimension, and the quality and scope of such disclosures affects both a wide range of stakeholders and the global economy. In the last decade, changing trends, considerations, as well as economic, legal and social factors have significantly influenced the content of corporate disclosures. In the context of N-FRs, special attention should be paid to the energy sector, which is in many ways essential for both the domestic and global economy. Therefore, its functioning also attracts the attention of researchers. The objective of this paper is to show the practical aspects of N-FRs and to assess the quality of reports submitted by companies in the Polish energy sector. The authors assessed the quality of non-financial information contained in the reports of energy sector companies in terms of four key management areas: Environmental Management System (EMS), Quality Management System (QMS), Enterprise Risk Management System (ERMS), and Corporate Governance Principles (CGPs). On the basis of their analysis of all CSRRs and IRs submitted by Polish energy sector companies in Poland in 2010–2020, the authors propose a model for the disclosure of information on these systems. Standardized reporting on these key management areas in the energy sector will improve the quality and usefulness of information from the perspective of all stakeholders. A model like this may be useful in many countries that manage their energy sectors in a similar way, such as Central and Eastern Europe (CEE) and other developing countries. Full article
(This article belongs to the Special Issue Sustainability and Corporate Governance Disclosure in Non-Financial Reporting in Energies Companies)
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28 pages, 364 KiB  
Article
Compliance with Corporate Governance Principles by Energy Companies Compared with All Companies Listed on the Warsaw Stock Exchange
by Elżbieta Izabela Szczepankiewicz, Joanna Błażyńska, Beata Zaleska, Farid Ullah and Windham Eugene Loopesko
Energies 2022, 15(17), 6481; https://0-doi-org.brum.beds.ac.uk/10.3390/en15176481 - 05 Sep 2022
Cited by 6 | Viewed by 1684
Abstract
Disclosure of non-financial information, especially regarding corporate governance (CG), is an important element of companies’ communication with their stakeholders. This paper sets out to define—from a theoretical and practical perspective—the scope of CG reporting in Polish fuel, gas, and energy (“energy”) companies required [...] Read more.
Disclosure of non-financial information, especially regarding corporate governance (CG), is an important element of companies’ communication with their stakeholders. This paper sets out to define—from a theoretical and practical perspective—the scope of CG reporting in Polish fuel, gas, and energy (“energy”) companies required under EU directives and national regulations. The paper presents the results of a study investigating whether and to what extent annual corporate governance statements (CGSs) prepared by energy companies, compared with other companies listed on the Warsaw Stock Exchange (WSE-LCs), are consistent with “Best Practices for WSE-LCs 2016” (BPs for WSE-LCs). The study group consisted of energy companies submitting their 2017–2020 reports, as well as other companies listed on the WSE, as a comparative group (i.e., a total of 179 reports). We used a monographic method to study theoretical problems and annual CGSs and performed a critical review of the literature, as well as comparative, content, and descriptive analyses. The analysed CGSs helped answer the following question: to what extent do energy companies and other WSE-LCs pursue the CG rules specified in BPs for WSE-LCs? The results indicate that such companies follow various approaches to CG disclosures and reporting obligations. However, what truly matters is not the legal obligation itself, but rather the companies’ social responsibility for maintaining good relations with their stakeholders. The paper will contribute to CG studies, because no Polish theorist has so far analysed CG disclosures in annual non-financial reports. The paper fills a research gap in information on adherence to best practices in CG disclosures in CGSs of all WSE-LCs. The study presents conclusions of CG disclosures by energy companies, which can provide the basis for further research in other sectors. Full article
(This article belongs to the Special Issue Sustainability and Corporate Governance Disclosure in Non-Financial Reporting in Energies Companies)
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