The impact of 2014/95/EU Directive on the voluntary sustainability reporting quality in one of the CEE countries
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Abstract
The increasing focus on sustainability reporting has stimulated a range of empirical studies and analyses. After the 2014/95/EU Directive implementation authors concentrate on mandatory sustainability reporting and how the change in the legal context has affected companies. This study aims to identify sustainability reports published voluntarily by companies listed on a stock exchange in one of the Central-Eastern European countries and to explore the quality of these reports. In the current study, content analysis is used over the 2020-2023 period and the results are interpreted through the lens of mimetic isomorphism. Companies listed on the Warsaw Stock Exchange disclose voluntary sustainability reports. However, their quality varies and is not dependent on previous experience. The decision to voluntarily report on sustainability might be motivated by (1) following the leading companies or peers from the same sector; (2) the opportunity to showcase to stakeholders, and particular investors, new innovative assets and technologies, as well as related reductions of environmental impacts; and (3) achievements in non-financial performance.
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