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Are firms (getting) ready for the corporate sustainability reporting directive?

Jahr: 2024
Typ: Journal Publication
Fachzeitschrift: Sustainability Nexus Forum

Abstract

The study examines whether the announcement and passing of the Corporate Sustainability Reporting Directive (CSRD) impacts the sustainability reporting of German firms. It sheds light on the interdependence of various actors, sectors and policy levels by examining how regulatory changes at the policy level affect the reporting practices of firms across multiple sectors. On the one hand, the scope of the CSRD is being extended, so that new firms falling within its scope may increase their voluntary sustainability reporting as part of the preparation process. On the other hand, the reporting requirements will be more stringent, so that firms currently under the mandate of the Non-Financial Reporting Directive (NFRD) may enhance their sustainability reporting disclosure practices in preparation for the CSRD. First, we find no increase in voluntary sustainability reporting by firms that are not under the scope of the NFRD but will be under the scope of the CSRD. Second, we find enhanced sustainability reporting practices by firms that are subject to the NFRD after the CSRD’s announcement and passing. This finding suggests that these firms begin to implement the new reporting requirements before the first reports are published in 2025. We illuminate the preparation for extensive reporting changes through sustainability reporting disclosure practices as an outcome of the preparation process. These changes may represent a high burden, particularly for firms with no previous experience of sustainability reporting.

Veröffentlichungsinformationen

TRR 266 researchers

Urska Kosi Paderborn University

Urska Kosi is Professor for Financial Accounting and Auditing at Paderborn University. Her research interests include corporate debt markets, in particular the effects of financial and sustainability reporting on corporate debt financing, economic consequences of financial reporting practices in private firms and political process of standard setting. She is member of the editorial board of Accounting in Europe and the national representative of Germany at the European Accounting Association.

External researchers

Paula Relard


Issue Number

5

Volume Number

32

DOI

DOI Link

Cite this article as

Zugehörige Projekte

B02

Private Firm Transparency

+ 5
Weiterlesen
B05

Transparency and Financial Markets

+ 6
Weiterlesen
B09

Transparency and the Debt Market (merged into B05)

Urska Kosi
Pia Stoczek
Weiterlesen

Beteiligte Institutionen

Die Hauptstandorte vom TRR 266 sind die Universität Paderborn (Sprecherhochschule), die HU Berlin und die Universität Mannheim. Alle drei Standorte sind seit vielen Jahren Zentren für Rechnungswesen- und Steuerforschung. Hinzu kommen Wissenschaftler der LMU München, der Frankfurt School of Finance and Management, der Goethe-Universität Frankfurt, der Universität zu Köln und der Leibniz Universität Hannover, die die gleiche Forschungsagenda verfolgen.

trr-mannheim
trr-frankfurt
trr-goethe
trr-dfg

Gefördert durch die Deutsche Forschungsgemeinschaft (DFG) - Sonderforschungsbereich (SFB/TRR) Projekt-ID 403041268 - TRR 266 Accounting for Transparency

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