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Article
Publication date: 23 March 2023

Hammed Afolabi, Ronita Ram and Gunnar Rimmel

This study aims to examine the influence and behaviour of the European Financial Reporting Advisory Group (EFRAG)/European Commission, and the International Financial Reporting…

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Abstract

Purpose

This study aims to examine the influence and behaviour of the European Financial Reporting Advisory Group (EFRAG)/European Commission, and the International Financial Reporting Standards (IFRS) Foundation/International Sustainability Standards Board in the standardisation of sustainability reporting arena and their implications for the Global Reporting Initiative’s (GRI) current position.

Design/methodology/approach

This paper draws on the arena concept, particularly the work of Renn (1992) and Georgakopoulous and Thomson (2008), to explore the EFRAG and the IFRS Foundation’s behaviour towards the standardisation of the sustainability reporting arena and their implications for the GRI’s current position. Further, the documents and public releases pertinent to the activities and output of the GRI, the EFRAG/European Commission and the IFRS Foundation are used. The documents are screened and analysed based on the key elements of arena concept that emerged, which includes “agenda, claims, network of bodies and group engaged, interaction and behaviour with arena issues (audience, materiality, scope and core priorities, purpose of reporting and relevance to sustainable development)”.

Findings

This study reveals the source of motivation and influence of the new standard setters in the sustainability reporting arena and documents the relevance of their behaviour as an actionable strategy to change the arena rule. Particularly, this paper demonstrates the perceived fall away from driving business behaviour towards the pursuit of sustainable development if the GRI and its standards cease to exist.

Practical implications

The pathway to achieve sustainable development and improve sustainability impact disclosure remains a debatable issue among policymakers and users of sustainability reporting standards. This study reconstructs the awareness of different dynamics at play inhibiting the harmonisation of sustainability reporting standardisation and the importance of the GRI in pursuing global sustainable development.

Social implications

The pattern of behaviour and agenda of sustainability institutions and influential standard setters harnessed in this paper are aimed at enabling the existence of the rules that can uphold the primary focus of the sustainability reporting arena, particularly in achieving global sustainable development.

Originality/value

This paper furthers the understanding of the importance of the GRI in upholding the key tenets and traditional agenda of sustainability reporting and sustainable development.

Details

Sustainability Accounting, Management and Policy Journal, vol. 14 no. 4
Type: Research Article
ISSN: 2040-8021

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Article
Publication date: 15 December 2022

Hammed Afolabi, Ronita Ram, Khaled Hussainey, Monomita Nandy and Suman Lodh

The authors explore the behaviour and perspectives of SMEs' owners towards a greener economy and its implications for net zero carbon emissions target.

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Abstract

Purpose

The authors explore the behaviour and perspectives of SMEs' owners towards a greener economy and its implications for net zero carbon emissions target.

Design/methodology/approach

The authors draw on the mirroring concept and 26 semi-structured interviews with SMEs' owners and managers to provide insights and explore the misalignment between SMEs' actions and perceptions and the technical architecture (and requirements) of achieving net zero carbon emissions in the UK.

Findings

The authors find that SMEs lack trust and are sceptical about the government's net zero emissions agenda. The authors also find that lack of understanding and perceived benefits, and supply chain complexities (end-to-end emissions) are the key factors hindering SMEs interests in engaging with better carbon emissions management and environmental management system (EMS). Moreover, pressure from external stakeholders, particularly banks and customers, is a strong driver to draw SMEs more effectively with sustainability and environmental impact disclosure.

Research limitations/implications

The sample is limited to 26 SMEs' owners operating in seven industries. Future research could explore the result in other industries. Further research could also investigate how the sustainability reports produced by SMEs are useful for different user groups' decision-making. This study reinforces the social constructionist approach to advance our understanding of SMEs' actions towards carbon emission management and EMS.

Practical implications

This study shows how government policies and SMEs' interests can be aligned to achieve the net zero carbon emissions target.

Originality/value

This is the first study to examine the perceptions and behaviour of SMEs towards the ongoing pursuit of a greener economy in the UK, including the key factors driving their actions and reasoning.

Details

Journal of Applied Accounting Research, vol. 24 no. 4
Type: Research Article
ISSN: 0967-5426

Keywords

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