Status Quo of Voluntary Sustainability Reporting by German SMEs in 2021

Dominika P. Gałkiewicz – University of Applied Sciences Kufstein Tirol, Finance, Accounting & Auditing, Andreas Hofer-Str. 7, 6330 Kufstein, Austria

Veronika Gaßner – University of Applied Sciences Kufstein Tirol, Finance, Accounting & Auditing, Andreas Hofer-Str. 7, 6330 Kufstein, Austria

Abstract: New regulations related to Environment, Social and Governance (ESG), such as the Non-Financial Reporting Directive (NFRD) or the upcom­ing Taxonomy Regulation of the European Union (EU), will have a signifi­cant impact on various market participants. To gain insight, a study was con­ducted comparing sustainability reporting patterns of the top ten voluntary small and medium-sized enterprises (SMEs) sustainability reports. The results showed that these companies do not follow a uniform approach to sustain­ability reporting. Though the evaluated topics were the same, their contents and level of detail differed. It was also observed that some of the examined companies selected key performance indicators (KPIs) according to their pref­erence and explained them in detail. Moreover, the companies issued differ­ent types of sustainability reports, such as separate PDF reports, online ver­sions, or a combination of both. The companies provided extensive informa­tion on environmental issues, especially on GHG emissions, concrete mea­sures, and targets for reducing emissions and energy consumption. Many pre­sented this information in detail with status and KPIs linked to their sustain­ability program based on their previously identified material issues. However, the topics of pollution, water and marine resources, biodiversity, and ecosys­tems were only marginally addressed in the examined sustainability reports. Regarding social information, the investigated companies disclosed a broad spectrum of information on their own workforce, especially on working con­ditions, equal treatment, and opportunities. On the other hand, the report­ing of the examined companies varied widely for governance. Many firms re­ported on mandatory topics such as corruption, bribery, and political engage­ment. These findings are useful for policymakers, other companies including banks and suppliers, and individuals interested in assessing sustainability sta­tus and progress.

7th International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2023 – Conference Proceedings, Hybrid (Faculty of Organization and Informatics Varaždin, University of Zagreb, Croatia), October 26, 2023

ITEMA Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ITEMA conference partners: Faculty of Economics and Business, University of Maribor, Slovenia; Faculty of Organization and Informatics, University of Zagreb, Varaždin; Faculty of Geography, University of Belgrade, Serbia; Institute of Marketing, Poznan University of Economics and Business, Poland; Faculty of Agriculture, Banat’s University of Agricultural Sciences and Veterinary Medicine ”King Michael I of Romania”, Romania

ITEMA Conference 2023 Conference Proceedings: ISBN 978-86-80194-75-2, ISSN 2683-5991, DOI: https://doi.org/10.31410/ITEMA.2023

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.

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