Interrelation between the climate-related sustainability and the financial reporting disclosures of the European automotive industry
The financial reports of the automotive companies' are measured in a standardized manner; therefore, they are transparent and comparable to each other, but this is not valid for the sustainability reports and it is not possible to compare their sustainability performances. Standard-setting orga...
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| Veröffentlicht in: | Clean technologies and environmental policy 2022, Vol.24 (1), p.437-445 |
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| creator | Tóth, Árpád Suta, Alex Szauter, Ferenc |
| description | The financial reports of the automotive companies' are measured in a standardized manner; therefore, they are transparent and comparable to each other, but this is not valid for the sustainability reports and it is not possible to compare their sustainability performances. Standard-setting organizations are currently searching for better reporting procedures. This study aims to investigate the connection between sustainability and financial reports for the most dominant European car manufacturers. It reviews the traceability of the sustainability elements back to the financial statements, which helps transparency, comparability, and impact measurement of the disclosed items and issues. This investigation allowed us to additionally review whether these companies are targeting to disclose the most harmful pollution impacts, or only focus to disclose the required obligatory items. Given the financial and sustainability reports magnitude manual testing would not provide complete and proper coverage, therefore we utilized an automated and AI-assisted content analysis with natural language processing. In this new review method, the sustainable elements of the textual reports were automatically retrieved following the 5-stage model of Landrum & Ohsowski (2018). The study highlights the lack of true sustainability information content of reports and the potential discrepancies and connections between the financial and the sustainability reports. Findings concluded that sustainability disclosures at the reviewed companies from several aspects could be improved and quantified, traced back to the financial disclosures, and to be comparable to each other if they apply a similar review method.
Graphic abstract |
| doi_str_mv | 10.1007/s10098-021-02108-w |
| format | Article |
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Standard-setting organizations are currently searching for better reporting procedures. This study aims to investigate the connection between sustainability and financial reports for the most dominant European car manufacturers. It reviews the traceability of the sustainability elements back to the financial statements, which helps transparency, comparability, and impact measurement of the disclosed items and issues. This investigation allowed us to additionally review whether these companies are targeting to disclose the most harmful pollution impacts, or only focus to disclose the required obligatory items. Given the financial and sustainability reports magnitude manual testing would not provide complete and proper coverage, therefore we utilized an automated and AI-assisted content analysis with natural language processing. In this new review method, the sustainable elements of the textual reports were automatically retrieved following the 5-stage model of Landrum & Ohsowski (2018). The study highlights the lack of true sustainability information content of reports and the potential discrepancies and connections between the financial and the sustainability reports. Findings concluded that sustainability disclosures at the reviewed companies from several aspects could be improved and quantified, traced back to the financial disclosures, and to be comparable to each other if they apply a similar review method.
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| identifier | ISSN: 1618-954X |
| ispartof | Clean technologies and environmental policy, 2022, Vol.24 (1), p.437-445 |
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| source | PAIS Index; Springer Nature - Complete Springer Journals |
| subjects | Accounting Automobile industry Companies Content analysis Disclosure Earth and Environmental Science Environment Environmental Economics Environmental Engineering/Biotechnology Environmental impact Environmental policy Financial statements Industrial and Production Engineering Industrial Chemistry/Chemical Engineering Initiatives International Financial Reporting Standards Manufacturers Materiality Measures Natural language processing OEM Original Paper Pollution Reconciliation Reviews Sustainability Sustainability reporting Sustainable Development |
| title | Interrelation between the climate-related sustainability and the financial reporting disclosures of the European automotive industry |
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