Today, more corporations disclose information about their environmental performance in response to stakeholder demands of environmental responsibility and accountability. What information do corporations disclose on their websites? This paper investigates the environmental management policies and practices of the 200 largest corporations in the world. Based on a content analysis of the environmental reports of Fortune’s Global 200 companies, this research analyzes the content of corporate environmental disclosures with respect to the following seven areas: environmental (...) planning considerations, top management support to the institutionalization of environmental concerns, environmental structures and organizing specifics, environmental leadership activities, environmental control, external validations or certifications of environmental programs, and forms of corporate environmental disclosures. (shrink)

Last year the Department of the Environment, Food and Rural Affairs (DEFRA) released a new set of revised guidelines upon environmental reporting practices for U.K companies. Two industrial sectors were selected – the Water industry and the Energy industry – and the most recent Environmental Reports produced by companies in these sectors were subjected to content analysis where the coding framework was heavily based on the DEFRA guidelines. Results are reported for the two industries separately and the (...) two industries are also compared. Whilst sectoral differences were found it was clear that many companies addressed most of the issues raised in the guidelines. However, others did not. Whilst no conclusions can be made about the quality of reporting the main areas of emphasis in each sector can be determined. (shrink)

Increasingly the business community is being asked to respond to growing societal concerns about the environment. One business response which has been widely researched from a number of aspects has been the development of standalone environmental reports. However, one key aspect which has not yet been fully investigated is the impact of environmental reporting upon organisational activity. Using an institutional theory perspective, this paper provides a framework for the examination of the embedding of environmental reporting (...) structures into organisational processes and culture. Using this outline framework to analyse existing literature, the paper concludes that there are many issues about the impact of environmental reporting which are still unclear and that many of the attributes of the environmental agenda suggest that it could be another management fad. (shrink)

This paper adopts the lens of environmental ethics to explore whether there is a disparity between the ethical approaches of a company in comparison to those expressed by stakeholders in relation to environmental issues, specifically those communicated through the corporate environmental report. Discourse analysis is adopted to explore the environmental section of the sustainability reports of the case study company as compared to the responses of a sample of the company’s stakeholders, using the lens of three (...) branches of environmental ethics: utilitarianism, deontology and virtue ethics. Results indicate that the ethical approaches expressed in the case study company’s environmental reports were grounded in utilitarianism and deontology, in contrast to a virtue ethics approach expressed by external stakeholders. The disparity widened as the relationship between the company and the stakeholder became less direct. This disparity signals a failure to meet one of the primary purposes for preparing sustainability reports: to engage with stakeholders. As such this research contributes to the literature by identifying a disparity in the how this information is communicated compared with how it is perceived by stakeholders. This has important implications for the success of current stakeholder engagement practices. (shrink)

Corporate, Social, Ethical and Environmental Reporting should ideally discharge the accountability of an organisation to its stakeholders. Voluntary reporting has been characterised by a dearth of neutral and objective information such that the advocates of SEER recommend that it be made compulsory. Their underlying rationale is that legally specified disclosure requirements and enforcement mechanisms will enhance the quality of such reporting. This paper sets out to explore how realistic this scenario actually is, in view of the (...) conflicting interpretations in the literature on this subject. To that end, a survey of the reporting patterns of 78 of the largest Spanish companies between 2001 and 2003 examines the extent of their compliance with the ICAC-2002 standard, which obliged them to make environmental disclosures in their financial statements. The results suggest that progressive and improved regulation could increase the volume and quality of SEER disclosures. They also suggest, however, that persistent non-compliance means that the problems associated with voluntary disclosure still exist. Finally, through an impression management perspective, the study reveals, the diverse strategies, ranging from dismissal to concealment, that are employed by companies to avoid transparency. As regulation improves and enforcement expectations rise, it becomes more difficult to dismiss compulsory reporting norms. As a result, some firms engage in more complex concealment strategies to attain corporate legitimacy, depriving stakeholders of regulatory information. The latter point serves to reconcile apparently contradictory explanations in the literature as to whether legitimacy theory might explain partial compliance with SEER regulation. (shrink)

Normativity is assessed as we evaluate and compare the environmental reporting practices of a sample of French and Canadian companies through the lens of institutional legitimacy. More specifically, we examine how French and Canadian firms changed their reporting practices in reaction to the promulgation of laws and regulations in their respective countries, i.e., the NER and Grenelle II Acts in France, and National Instrument 51-102 and CSA Staff Notice NR 51-333, issued by the Canadian Securities Administrators. The (...) firms’ voluntary disclosures according to GRI guidelines are also investigated. Substantive legitimacy theory is used to explore the level of substantive disclosures provided by Canadian and French firms. The findings reveal that the French parliamentary regime is more successful than the Canadian stock exchange regulation in triggering environmental reporting, and that the GRI combined with local regimes prompts environmental disclosures. Notwithstanding the improvements in environmental reporting under all three regimes, a very low level of substantive disclosure is noted in both countries. (shrink)

Based on a case study of a large multinational group, this paper addresses the way in which social and environmental reporting systems were changed and the consequences and controversies associated with this change. Drawing on Power’s work on the processes by which things are made auditable via underlying systems, we focus on how and why a specific programme with auditability as its ultimate aim changed the basis on which the external social and environmental report was prepared. Our (...) analysis demonstrates that the perceived alignment with the financial report preparation and the explicit pursuit of auditability legitimized SER and paved the way for data systems to be changed. The programme borrowed authority from financial accounting technologies not only to make a system change but also to push SER internally, as we suggest that an intraorganizational group used the programme to ensure the existence and organizational status of SER. However, we also illustrate some of the practical challenges associated with this change, which include issues related to internal control and the establishment of organizational boundaries. (shrink)

Corporate, Social, Ethical and Environmental Reporting should ideally discharge the accountability of an organisation to its stakeholders. Voluntary reporting has been characterised by a dearth of neutral and objective information such that the advocates of SEER recommend that it be made compulsory. Their underlying rationale is that legally specified disclosure requirements and enforcement mechanisms will enhance the quality of such reporting. This paper sets out to explore how realistic this scenario actually is, in view of the (...) conflicting interpretations in the literature on this subject. To that end, a survey of the reporting patterns of 78 of the largest Spanish companies between 2001 and 2003 examines the extent of their compliance with the ICAC-2002 standard, which obliged them to make environmental disclosures in their financial statements. The results suggest that progressive and improved regulation could increase the volume and quality of SEER disclosures. They also suggest, however, that persistent non-compliance means that the problems associated with voluntary disclosure still exist. Finally, through an impression management perspective, the study reveals, the diverse strategies, ranging from dismissal to concealment, that are employed by companies to avoid transparency. As regulation improves and enforcement expectations rise, it becomes more difficult to dismiss compulsory reporting norms. As a result, some firms engage in more complex concealment strategies to attain corporate legitimacy, depriving stakeholders of regulatory information. The latter point serves to reconcile apparently contradictory explanations in the literature as to whether legitimacy theory might explain partial compliance with SEER regulation. (shrink)

Ecological objectives in environmental reports usually promise a high degree of environmental responsibilities in a company’s activities. Several studies have already highlighted that most companies do not keep their promises since stakeholders’ expectations and a company’s capabilities for internal adjustments do not always match. Thus, a company might use strategic reporting in order not to endanger its legitimacy. However, no study so far has demonstrated how companies use different legitimacy strategies in reporting their environmental objectives (...) over time. To achieve this in our study, we focus primarily on findings from legitimacy theory in combination with the legitimacy strategies suggested by Lindblom Social and environmental accounting: developing the field, Sage, Los Angeles, pp 51–63, 2010). To test our theoretical framework empirically, we analyze 260 corporate environmental reports of German DAX companies between the years 2000–2014 by coding all disclosed objectives within these reports. Based on this longitudinal approach, we are able to identify reporting patterns of the different companies that provide insights into those companies’ environmental reporting legitimacy strategies. Overall, this study contributes to research on voluntary disclosure by showing that a comprehensive analysis of the reporting pattern of disclosed objectives allows the identification of certain legitimacy strategies. (shrink)

This study uses panel data to investigate the different roles of the Chinese government in influencing companies’ decision making about corporate environmental reporting (CER) via a two-stage process. The results show that the Chinese government appears to mainly influence the decision whether to disclose or not, but has limited influence on how much firms disclose. The results also show that the traditional model of authoritarian capitalism (under which state-owned enterprises [SOEs] are the major governance arrangement) is transforming into (...) a new model. In the new model of authoritarian capitalism, the Chinese government uses newer, more sophisticated tools to manage both state-owned and non–state-owned companies. In addition, these new governance arrangements appear to be more efficient than the traditional model. The findings of this study have implications for both the Chinese government and for Chinese companies, as well as making important contributions to the literature and knowledge of CER in China. (shrink)

We examine current practices in the development and communication of social and environmental reporting (SER) in the UK retail banks. Empirical data was triangulated between semi-structured interviews with bank executives, bank sustainability reports, and third-party sustainability entrepreneur initiatives (termed 'SEIs') to identify current practices and growth areas. We use social contract theory to examine how these social and environmental retail banks developed their SER practices. Our findings reveal that SER practices are crucial for pursuing more positive social (...) and environmental values. We clarify the role of SER as a form of integrated reporting (IR) to assess and improve the usefulness of the IR reporting practices. The SER practices also appear to have benefited from the presence of a number of SEIs in the sampled banks who specialise in commercialising social and environmental projects. In addition, methodical analyses of SER components assist managers and regulators in determining which components are meaningful to stakeholders. (shrink)

A recent initiative at Muffakham Jah College of Engineering and Technology, Hyderabad, India, has resulted in setting up a program called Centre for Environment Studies and Socioresponsive Engineering which seeks to involve undergraduate students in studying and solving environmental problems in and around the city of Hyderabad, India. Two pilot projects have been undertaken — one focusing on design and construction of an eco-friendly house, The Natural House, and another directed at improving environmental and general living conditions in (...) a slum area. The paper describes our attempts and experience of motivating our students to take interest in such projects. In an interesting development we invited a member of a student-faculty team at Massachusetts Institute of Technology (M.I.T.) that is doing a project in Nepal on safe drinking water. We report in our paper how the presentation by the guest from M.I.T. served as a catalyst for generating interest among civil and mechanical engineering students in our own projects. The paper includes contributions from one of our students and the M.I.T. staff member, reporting on their experiences related to the slum development project. (shrink)

People differ in their personal commitment to fighting climate change and protecting the environment. The question is, can we validly measure people’s commitment by what they say and what they claim they do in opinion polls? In our research, we demonstrate that opinions and reports of past behavior can be aggregated into comparable depictions of people’s personal commitment to fighting climate change and protecting the environment. In contrast to the commonly used operational scaling approaches, we ground our measure of people’s (...) environmental attitudes in a mathematically formalized psychological theory of the response process—the Campbell paradigm. This theory of the response process has already been extensively validated, and its relevance for manifest behavior has repeatedly been shown as well. In our secondary analysis of Eurobarometer data from 28 European countries, we apply the Campbell paradigm to a set of indicators that was not originally collected to be aggregated into a single scale. With our research, we propose a distinct way to measure behavior-relevant environmental attitudes that can be used even with a set of indicators that was originally atheoretically compiled. Overall, our study suggests that the Campbell paradigm provides a sound psychological measurement theory that can be applied to cross-cultural comparisons in the environmental protection domain. (shrink)

In this paper I examine and assess an important developing trend in environmental ethics, environmental virtue ethics. I begin by providing a thorough survey of influential and representative contributions to environmental virtue ethics. Along with explaining these contributions to environmental virtue ethics I discuss their various strengths and weaknesses. In the second section I explain what I believe an environmental virtue ethic needs to do to complement other perspectives in environmental ethics. Then, using the (...) best aspects of previously published work along with some additional argument and analysis, I provide a concise portrait of an environmental virtue ethic that combines the advantages of Aristotelian virtue theory with the insights of contemporary environmental ethics. The environmental virtue ethic that emerges from this analysis and discussion is primarily a philosophical praxis. It provides a model of living well in which an understanding of and a concern for the environment human is constitutive of human flourishing. As a praxis this environmental virtue ethic articulates an account of human flourishing with a view to suggesting how a person can improve her own life by working to preserve wild nature. (shrink)

Sustainability reporting guidelines developed by Global Reporting Initiative provide a systematic approach for the companies to report their performance on social, environmental, and economic dimensions of sustainability. This study compared the sustainability reports of leading Indian public and private sector companies. Reports were analyzed based on GRI guidelines toward their reporting on sustainability. A numerical score from 0 to 3 was assigned for each of the 84 performance indicators of the GRI 2011 guidelines based on inclusiveness (...) of sustainability report. The analysis showed that reporting on economic dimension was comparatively better as compared to social and environmental dimensions. Sampled companies did not show much difference in their reporting practices on economic performances. However, considerable difference was observed in their reporting practices on environmental and social dimensions. Reporting practices of Tata Steel were better in all dimensions of sustainability and emerged as a responsible company on sustainability reporting. (shrink)

During the fall of 2001 (October 22–25), The Norwegian Radiation Protection Authority (NRPA) and the Agricultural University of Norway arranged a consensus conference on the protection of the environment against ionising radiation. The motive for the conference was the need to study the ethical and philosophical basis for protection of nature in its own right. The conference was funded by Nordic Nuclear Safety Research (NKS), in cooperation with the International Union of Radioecology (IUR). The National Committee for Research Ethics in (...) Science and Technology (NENT) was hired as facilitators for the consensus process. This paper will give a brief outline of the aims and method of the conference, distinguishing these from other kinds of consensus conferences. The paper ends with some general reflections on the appropriateness of seeking consensus on ethics-related issues among experts. (shrink)

The purpose of this study is to explore the extent and nature of sustainability disclosure practices of companies from environmentally sensitive industries in India. It further investigates the influence of potential determinants on sustainability information disclosure of the companies. The study analyzed the data of 57 energy and mining companies included in NIFTY500 index at National Stock Exchange of India (NSE) for the period 2016 to 2019. In the present study, environment, social, and governance (ESG) parameters were considered to measure (...) the corporate sustainability disclosure practices. Panel data analysis was conducted to investigate the impact of possible determinants on sustainability reporting. The results indicate that variables, such as firm size, market capitalization, and a standalone sustainability reporting, are positively associated with the sustainability information disclosure of companies. The finding also suggests that policymakers should promote a standalone sustainability reporting based on Global Reporting Initiative (GRI) standards and also broaden the existing scope of business responsibility reporting in India. Overall findings should help the policymakers and regulators to assess and advance the disclosure reforms to improve sustainability reporting in India. (shrink)

Using a purposive sample with an even distribution of 299 non-Hispanic Whites, 294 African Americans, 292 Asian Americans and 295 Hispanics, we test a moderated mediation model that examines the relationship between self-reported news media consumption (e.g., non-conservative and conservative) and environmental behavioural intentions. Our study found evidence supporting the mainstreaming hypothesis (converging attitudes) across key variables within the theory of planned behaviour (TPB). Our results also reveal non-conservative outlets to be associated with more favourable environmental attitudes, subjective (...) norms and perceived behavioural control, while conservative outlets are associated with less favourable levels for two of these three variables. Results also indicate conditional indirect relationships between non-conservative news use on behavioural intentions through our TPB variables, which vary by race/ethnicity. (shrink)

This work documents the ethical dilemmas faced by anthropologists and researchers in general when investigating Amerindian communities.

Using a sample of Chinese listed firms in polluting industries for the period of 2008–2010, we empirically investigate whether and how Buddhism, China’s most influential religion, affects corporate environmental responsibility (CER). In this study, we measure Buddhist variables as the number of Buddhist monasteries within a certain radius around Chinese listed firms’ registered addresses. In addition, we hand-collect corporate environmental disclosure scores based on the Global Reporting Initiative (GRI) sustainability reporting guidelines. Using hand-collected Buddhism data and (...) corporate environmental disclosure scores, we provide strong and robust evidence that Buddhism is significantly positively associated with CER. This finding is consistent with the following view: Buddhism can serve as social norms to evoke the consciousness of social responsibility, and thereof strengthen CER. Our findings also reveal that the positive association between Buddhism and CER is attenuated for firms with higher law enforcement index. The results are robust to various measures of Buddhism and a variety of sensitivity tests. (shrink)

Sustainability reporting and assurance of sustainability reports have been used by organizations in an attempt to provide accountability to their stakeholders. A better understanding of current practices is important to provide a base for comparative and trend analyses. This paper aims to consolidate and provide information on sustainability reporting, assurance of sustainability reports and types of assurance providers. Another aim of this paper is to provide a descriptive analysis of these practices for a global sample, comparing results with (...) previous studies, and suggesting opportunities for future research. To accomplish these objectives, a literature review was performed, an analysis of the organizations included in the Fortune Global 500 2010 was completed, and results were presented and consolidated by country. These results demonstrate that all organizations analysed provided some type of information in relation to their social or environmental performance in their official website. The percentage of organizations issuing a sustainability report has been increasing in the last few years. However, the percentage of organizations assuring their sustainability report has stagnated. Types of assurance engagements include those performed by accountants and non-accountants, and new practices have emerged, namely the “mixed approach” and the “stakeholder or specialist review”. The analysis also shows that the practices of issuing sustainability reports and having them assured have become a world-wide phenomenon, occurring in developed, and emerging economies around the world. (shrink)

Citizens of Western democracies have long believed that the media should serve as watchdogs. Many feel one of the media’s most important watchdog duties is environmental reporting. As human progress has undoubtedly caused significant changes in the ecosystem, citizens have increasingly depended on the media to inform us about possible ill effects thereof. Though critics from both right and left have reservations about the actual fulfillment of this role by the press, most uphold environmental reporting in (...) principle. Hence, environmental journalism is growing in stature and respect. Even so, the work of Jacques Ellul puts forth an analysis of the watchdog function of the press that challenges key tenets of the liberal democratic presuppositions of our technological society. His analysis, which is of neither the right nor the left, raises questions that anyone who thinks seriously about the media and the environment should ponder, even those who ultimately disagree with Ellul’s position. (shrink)

The paper is principally concerned with (a) outlining the range of possibilities that exist for organisations which wish to undertake environmental and sustainability reporting and (b) suggesting particular approaches as the more desirable. But the paper also attempts to show that there is an important difference between environmental reporting and reporting for sustainability, and that, so far, efforts to encourage organisations to voluntarily undertake either have not been successful. Environmental reporting is business-centred and (...) there are a number of practicable ways in which it can be undertaken. The most notable of these are the UN CTC approach to financial environmental reporting plus the Compliance-with-Standard Report. Reporting for sustainability is life-centred and, whatever method we adopt it is likely to show that western organisations are not currently sustainable. The concept of sustainability is widely underestimated and misused in business and political circles. This is explored and the real meaning of sustainability operationalised. Environmental reporting and sustainability reporting are shown to be essential and practicable. It is argued, however, that there is little or no prospect of widespread, systematic reporting by corporations without a major regulatory initiative. (shrink)

This paper's purpose is to assess how management's perceptions regarding certain aspects of environmental reporting relate to the firm's actual reporting strategy. Toward that end, we propose a model where a firm's environmental disclosure is conditional upon executive assessments of corporate concerns. The study relies on a survey that was sent to environmental management executives from European and North American multinational firms enquiring about the determinants of corporate environmental disclosure. Responses from these executives were (...) then contrasted with their firms' actual environmental reporting practices, which was measured using a comprehensive multi-criteria grid. Results show that there is a relationship between environmental managers' attitudes toward various stakeholder groups and how those managers respond to the stakeholders via the decision to disclose and the actual disclosures made. Our model provides a perspective as to how a firm responds to the numerous stakeholders to whom it must be accountable. This accountability in turn relates to how the company communicates its actions to society in order to achieve or maintain its social legitimacy. (shrink)

Environmental Education is broadly discussed in the Federal Republic of Germany. The different conceptions may be classified as the cognitive, the emotive, the cognitive-experiential and the system-critical model. In the article, the role of institutions in the educational system, dealing with EE, is described. Current activities in empirical research work and some findings on EE in German schools are reported.

When environmental health researchers study hazards in the home, they often discover information that may be relevant to protecting the health and safety of the research subjects and occupants. This article describes the ethical and legal basis for a duty to warn research subjects and occupants about hazards in the home and explores the extent of this duty. Investigators should inform research subjects and occupants about the results of tests conducted as part of the research protocol only if the (...) information is likely to be accurate, reliable, and medically useful. Investigators should warn subjects and occupants about hazards they happen to discover while they are in the home, if a reasonable person would warn the subjects and occupants about those hazards. Investigators should not report illegal hazards discovered in the home to the authorities, unless those hazards constitute abuse or neglect of children or mentally disabled people living in the home. When investigators decide to warn research subjects and occupants about hazards in the home, they should take some steps to help them make effective use of this information, such as providing additional counselling or making a referral for remediation or medical treatment. Investigators should discuss these issues with research subjects during the informed consent process. (shrink)

This paper's purpose is to assess how management's perceptions regarding certain aspects of environmental reporting relate to the firm's actual reporting strategy. Toward that end, we propose a model where a firm's environmental disclosure is conditional upon executive assessments of corporate concerns. The study relies on a survey that was sent to environmental management executives from European and North American multinational firms enquiring about the determinants of corporate environmental disclosure. Responses from these executives were (...) then contrasted with their firms' actual environmental reporting practices, which was measured using a comprehensive multi-criteria grid. Results show that there is a relationship between environmental managers' attitudes toward various stakeholder groups and how those managers respond to the stakeholders via the decision to disclose and the actual disclosures made. Our model provides a perspective as to how a firm responds to the numerous stakeholders to whom it must be accountable. This accountability in turn relates to how the company communicates its actions to society in order to achieve or maintain its social legitimacy. (shrink)

We investigate the implications of using different indicators to assess the sustainability performance of investment funds. In particular, we look into the environmental performance of Dutch government bond funds. We find that it does matter a lot which particular indicator is used. This suggests that funds should be very transparent and straightforward about their non-financial performance. We argue that basically they have three options. First, the industry comes up with a benchmark against which the responsibility of their investments is (...) measured and reported by all funds. Second, the funds make very clear and transparent which particular aspects of sustainability they specifically target and how they keep score. Third, the dashboard approach where the funds report their performance on a well-defined set of indicators. (shrink)

Over the last several years, the environmental regulatory system has undergone radical changes. Various private normative schemes, ranging from corporate codes to environmental management systems, environmental reporting standards, project-finance codes and green indexes, have assumed an increasingly important role in the regulatory arena. The emergence of private environmental governance as an important transnational phenomenon raises two interrelated puzzles: efficacy and legitimacy. Underlying the efficacy puzzle is a deep-seated suspicion toward "soft" legal instruments, which to some (...) observers represent nothing but a coordinated form of "greenwash." The legitimacy question reflects a contrary concern — that these private regulatory structures represent new forms of global authority that are in need of distinctive legitimization. The Article begins with an outline of this new global terrain, exploring its historical evolution. It argues that the multiple links and cross-sensitivities between the different global private regimes have created a novel ensemble regulatory structure with positive enforcement and normative externalities. The Article then moves to examine the question of efficacy more generally, developing a nuanced understanding of the social dynamic of "soft-law" regulation, which rejects the binary logic underlying the "soft law"-"greenwash" narratives. Regarding the political dimension, the Article argues that this new ensemble network has brought about a new transnational political sphere which is associated with an extensive, cross-institutional quest for legitimacy. The Article then turns its focus to the field of sustainability indexes, focusing on the two leading global indexes: FTSE4Good Index Series and Dow Jones Sustainability Indexes. These indexes are taken as a prototypical case of transnational private ordering. Drawing on a close analysis of the indexes’ guiding documents and on interviews with senior executives from both organizations, the Article considers the unique features of these indexes as forms of governance and the paths through which they claim to affect society. It then moves to explore the mechanisms of legitimacy employed by FTSE4Good and DJSI, highlighting their distinctive visions of legitimization. A close examination of sustainability indexes generates insights, I will argue, regarding the field of private global environmental governance as a whole. In particular, it highlights both the new political opportunities created by the evolving network of transnational governance and the limits this new structure sets for radical critique. (shrink)

With increasing awareness of environmental issues, there has been rising demand for environmental-friendly business practices. Prior research has shown that the implementation of environmental management practices is influenced by existing and potential stakeholder groups in the form of external pressures from legislators, environmental groups, financial institutions and suppliers, as well as internally by employees and owner/manager attitudes and knowledge. However, it has been reported that despite business owner/managers having strong “green” attitudes, the level of implementation of (...) environmental-friendly practices is low. In order to explore the connection between pressures for improved practices and the management actions taken, this article examines how influence from various stakeholders is related to awareness of environmental issues, and how this awareness relates to actions taken within the businesses to reduce the environmental impact of their operations. The results indicate that legislation does result in general environmental awareness, and that organizations are then willing to␣change their business processes and environmental strategies. However, despite their actions they have little awareness of the benefits that might arise from cost reductions from their environmental-friendly practices. Those influenced by their suppliers act to reduce waste, but do not put into place formal environmental management systems, or use environmental messages to market their goods or services. Nevertheless, it can be argued that they have a real commitment to environmental issues, as evidenced by a willingness to voluntarily contribute to environmental organizations. (shrink)

The purpose of this paper is to evaluate the quality of Environmental, Social and Governance (ESG) reporting of Spanish companies listed in the IBEX-35 stock index Firstly, it establishes four requisites for quality in ESG reporting. Secondly, it evaluates whether ESG reports comply with these requirements. Using a benchmark tool based on GRI3 we can conclude that the GRI has resulted in some standardization of corporate social and environmental reporting, particularly as regards to format, but (...) their approach to indicators is unlikely to produce high quality information that is relevant, comparable, complete and accessible to all stakeholders. Also, there seems to be evidence that reporting is orientated to satisfy shareholders and investors´ demands rather than to other stakeholders´. (shrink)

ABSTRACT:Many of humanity's most serious problems are global, intergenerational, and ecological, yet current institutions are poorly placed to confront such problems. In part, this institutional challenge reflects difficulties with our basic concepts and theories. Bioethics is a central area where such questions arise. Although some have argued for an environmentalized bioethics since its inception, biomedicine has thus far failed to embrace the challenge, and some accuse most bioethicists of being "asleep at the wheel" (Schenck and Churchill 2021). This paper discusses (...) the basic ethical challenge, offers the "perfect moral storm" analysis, and explores one promising new concept for bioethics, planetary health, in light of that analysis. Drawing on the foundational report of the Rockefeller Foundation–Lancet Commission (Whitmee et al. 2015) and using climate change as the example, the author argues that planetary health has significant strengths but also some weaknesses, and that identifying both is helpful in charting a path forward for environmentalized bioethics. (shrink)

It is widely claimed that climate change has increased the magnitude and the frequency of natural phenomena such as storms, droughts, and floods with the concomitant costs in terms of damages and victims. This paper using weekly data from global stock market indices in a Fama–French model, examines how and to what extent market agents and investors react to such events. As a yardstick for comparison purposes, the possible market impact of industrial accidents is also incorporated and examined in the (...) empirical investigation. The study uses in a comparative approach the STOXX Global ESG Environmental Leaders index and the STOXX Global index diversified across 1800 top companies. Results reported herein seem to indicate that natural and anthropogenic adversity have no immediate impact on the stock indices, while wildfires have an immediate reduction impact on market risk in the case of the ESG Environmental Leaders index. Moreover, wildfires and industrial accidents appear to cause a significant reduction of systematic risk over the next week following the incident. However, the magnitude of the effect is higher in the case of the ESG Environmental Leaders stock index. Finally, the effect on systematic risk by industrial accidents is temporarily without any lasting imprint. (shrink)

There is empirical evidence suggesting a positive link between direct experiences in nature and people’s environmental attitudes (EA) and behaviors (EB). This has led researchers to encourage more frequent contact with nature, especially during childhood, as a way of increasing pro-environmentalism (i.e., pro-EA and pro-EB). However, the association between experiences in nature and EA/EB is complex, and specific guidelines for people’s everyday contact with nature cannot be provided. This article offers an overview of the research conducted until know about (...) the relation between experiences in nature and pro-environmentalism, and opens up new inquiries for future research. We begin with an introduction to people’s current tendency toward an alienation from the natural world and set out the objectives of the article. It is followed by three main sections. The first one reports on what experiences in nature refer to, how and where they occur. The second section describes the different approaches used to investigate and interpret the experiences in nature-EA and EB relation. The last section provides suggestions for future research. We close by making some final remarks about the importance of (re)stablishing a greater interaction with nature for people’s pro-EA and EB. (shrink)

There is a shift in the role of business in society where societal, environmental and stakeholder value drivers could reshape the basis of economic competitive advantage. Investors are willing to pay a premium for well-governed companies because of positive perceptions of CSR. Organizations respond to the value drivers to endure and function effectively along the societal, environmental and stakeholder dimensions. In this article case analysis is performed for four international firms, chosen from USA/Europe and Asia, with distinguished records (...) of sustainability. The case studies were based on the company sustainability reports and related material published in EthicalCorp, CSRWire and Covalence online publications. Assessments were performed using publicly available information. The non-parametric correlation analysis shows that firms with better commitment to CSR respond more to societal, environmental and stakeholder drivers through strategic initiatives. This improves their competitive advantage as assessed by economic value added. (shrink)

A systemic phenomenological model that assumes the movability of the Cartesian cut is proposed and elucidated by means of a single exploratory case study. The model assumes that a continuum from purely psychosomatic disorders to RSPK cases exists. The degree of externalization (locus of control) of the affected person serves as an ordering parameter for the location of the Cartesian cut. It turns out that the dynamics of the disorder develops in four phases, like in the RSPK-model of the MPI. (...) However, in contrast to the decline phase of the RSPK cases (because of the NT-axiom), CER cases lead to petrification of the complaints. (shrink)

The financial services sector has the potential to be an important driver for improved corporate social and environmental responsibility through its control over corporate financing. But, so far, only ad hoc policy initiatives have arisen in the European Union and other countries. Because the financial services sector is where wholesale decisions regarding future development, and thus pressures on the environment, arise, the reform of investment and banking services to promote long term investment and better consideration of environmental impacts (...) may be an effective way to promote sustainable development. Reforms such as corporate environmental reporting requirements and lender liability for borrowers’ environmental harm, are some of the ways by which an institutional framework for mobilising financial organizations as instruments of environmental regulation could be constructed. (shrink)

The paper is aimed at analyzing the contribution that the Global Reporting Initiative makes to the field of sustainability reporting. It provides an overview of the multitude of initiatives aimed at standardizing corporate social responsibility efforts on a global scale and highlights the ways in which the GRI can be distinguished from other international initiatives. By evaluating GRI's goals and its claims, the paper provides an overview of the strengths and weaknesses of this critical initiative. It includes a (...) discussion of changes and new strategies that GRI proposes as part of its recently introduced G3 Guidelines. The authors contend that, despite certain remaining challenges, GRI has much to offer a stakeholder community that has for many decades been starved of quality, measurable and accountable corporate social information presented in an accessible and understandable format. (shrink)

The aim of this academic symposium was to provide an answer to the question whether “youth quotas” offer a solution to changes in age demographics and a looming gerontocracy. Based on the premise that young people have the potential to act as change agents, especially with regard to ecological sustainability, it was our aim to stimulate a societal discussion and to raise public awareness on the topic of youth quotas, whilst providing the discussion with a scientific basis. The question of (...) a power shift between generations is already discussed in many facets in the literature. Many commentators state that a shift is already visible and that the problem requires careful political management. In light of this, the implementation of youth quotas could be a possible method of protecting the interests of younger generations in politics and beyond. The symposium was investigating a topic that is greatly under-researched. Some key questions to be addressed at the symposium were: Should youth quotas be limited to the political arena or should they also be implemented in other fields? Can youth quotas ensure that a greater sense of urgency is applied to the problem-solving process of future concerns like global warming? Can young people really be relied upon to represent the interests of the young generation as a whole, or will they just follow their own individual interests? Are youth quotas in general an effective instrument to strengthen the rights of the young generation or do we need other and more effective instruments? Intense debates arose over the question of whether or not youth quotas are an effective means to strengthen the rights of future generations. Some junior researchers suggested that young people can be thought of as the “trustees of posterity” as they tend to be fiercer defenders of long-termist policies, especially regarding the environment, since the environmental crisis will have a more concrete impact on their lifespan. But other speakers rejected the causality that young people will have a stronger determination to solve future problems, or will necessarily add a new “young” perspective in the epistemic process of finding solutions to future problems. The indication of these latter speakers was that environmental issues are not the top priority of young people. Regarding the composition of party lists, one speaker pointed to the problem of legitimacy in the outcome of an election. The positive discrimination of youth within a societal group has to be justified because other groups could feel disadvantaged by the implementation of such a strong instrument. Some speakers challenged the analogy of youth quotas to quotas for women or ethnic minorities, because women and ethnic minorities can’t change their status whereas today’s young people, in the normal course of life, will be old in the future. This means that the disadvantage of a person in his or her young age is just temporal. Generational effects were pitted against age effects in this context. Some experts pointed to alternatives to youth quotas. In their view, lowering the voting age and better political education in schools, especially, would produce better results. Another proposed strategy was the implementation of proxy votes for the parents. A vote at the end of the symposium sparked interesting results. Although several reservations were noted, most of the speakers voted for the implementation of youth quotas. All speakers voted for lowering the voting age. The conclusion reached by this academic symposium was that a package of measures is required to give adequate answers to demographic change. Youth quotas could be part of this package. The organisers planned to publish the outcomes of the symposium in an anthology : Youth Quotas and other Efficient Forms of Youth Participation in Ageing Societies. Berlin/Heidelberg: Springer). (shrink)

Through case studies that highlight the type of information that is seldom reported in the news, Faces of Environmental Racism exposes the type and magnitude of environmental racism, both domestic and international. The essays explore the justice of current environmental practices, asking such questions as whether cost-benefit analysis is an appropriate analytic technique and whether there are alternate routes to sustainable development in the South.

As Cuba achieves one of the lowest per capita ecological footprints in the world, the country’s overshoot day was on 1 December 2019, while some European countries already reach this limit in February (e.g., Luxembourg), monitoring the environmental preferences of the Cuban younger generation may offer valuable behavioral or pedagogical insights into such a society. As accepted standardized measures exist in the scales of 2-Major Environmental Values (2-MEV) and the General Ecological Behavior (GEB), both measures are following the (...) necessary psychometric requirement, as they have the unique advantage of repeated independent confirmation (and thus provide an external validity). These captured 40 items of reported behavior originating in six subscales that total in a single main cover score. The first one (2-MEV) monitors individual biocentric and anthropocentric preferences with a 20 item-set by relying upon these two higher-order factors of “Preservation” (PRE) and “Utilization” (UTL). Although many language versions already exist (33 in the case of the 2-MEV) for verifying validities and reliabilities of both scales, a country such as Cuba may affirm that this is due to expected cultural differences as well as their exceptionally low global footprint. Additionally, neither the individual connectedness with nature nor the diurnal preferences within the linear structural model showed a substantial relationship to PRE or UTL. Nevertheless, all the regression scores follow the expected positive or negative directions, albeit not all the fit scores turned out as satisfactorily. Apparently, the applied measures secure a good basis for measuring the attitudinal and behavioral framework, but will need further fine tuning to completely monitor the environmental preferences of Cuban adolescents. (shrink)

The primary objective of this research is to examine the potential influence of environmental, social, and governance (ESG) disclosure on cash holdings. Additionally, the study explores the role of earnings management (EM) practices as a mediating factor in this relationship. The sample comprises 797 companies listed on financial markets across 19 European countries, and the data spans from 2013 to 2019. The outcomes indicate a significant negative correlation between ESG disclosure and cash holdings, implying that ESG performance can be (...) used by management to resolve disputes with stakeholders. The outcomes further indicate that the existence of EM practices partially mediates the link between ESG disclosure and cash holdings. Moreover, they are robust by substitute cash holdings specification, three distinct initiatives of ESG disclosure (i.e., environment, social, and governance), and a two-stage least squares assessment. Therefore, the findings document that nonfinancial reporting in the form of ESG disclosure can assist in controlling agency conflict, leading to better valuations of company performance by stakeholders. (shrink)

Controversies around large-scale development projects offer many cases and insights which may be analyzed through the lenses of corporate social (_ir_)responsibility (CS_I_R) and business ethics studies. In this paper, we confront the CSR narratives and strategies of _WeBuild_ (formerly known as _Salini Impregilo_), an Italian transnational construction company. Starting from the Global Atlas of Environmental Justice (EJAtlas), we collect evidence from NGOs, environmental justice organizations, journalists, scholars, and community leaders on socio-environmental injustices and controversies surrounding 38 large (...) hydropower schemes built by the corporation throughout the last century. As a counter-reporting exercise, we code (un)sustainability discourses from a plurality of sources, looking at their discrepancy under the critical lenses of post-normal science and political ecology, with environmental justice as a normative framework. Our results show how the mismatch of narratives can be interpreted by considering the voluntary, self-reporting, non-binding nature of CSR accounting performed by a corporation wishing to grow in a global competitive market. Contributing to critical perspectives on political CS(I)R, we question the reliability of current CSR mechanisms and instruments, calling for the inclusion of complexity dimensions in and a re-politicization of CS(I)R accounting and ethics. We argue that the fields of post-normal science and political ecology can contribute to these goals. (shrink)

Through case studies that highlight the type of information that is seldom reported in the news, Faces of Environmental Racism exposes the type and magnitude of environmental racism, both domestic and international. The essays explore the justice of current environmental practices, asking such questions as whether cost-benefit analysis is an appropriate analytic technique and whether there are alternate routes to sustainable development in the South.