Environmental Issues and Financial Reporting Trends: A Survey in the Chemical and Oil & Gas Industries

73 Pages Posted: 30 Jul 2001

See all articles by Roberta Salomone

Roberta Salomone

University of Messina - Department of Resources, Enterprise, Atmosphere and Quantitative Methodologies

Giulia Galluccio

Det Norske Veritas; Fondazione Eni Enrico Mattei (FEEM), Milan

Date Written: June 2001

Abstract

As environmental performance is increasingly seen to have an influence over financial performance and financial risk assessment, disclosure of environmental issues in the Annual Reports is a fundamental requirement for a company in order to satisfy the information needs of its stakeholders. Given this pressure there is a definite trend among leading companies to report their environmental performances within the financial statements, but the way companies disclose environmental-related information varies from company to company and from country to country. Besides, the qualitative level of this kind of disclosure, in term of relevance, comparability and credibility, is not generally very high. More and more voluntary and regulatory guidelines are emerging to encourage companies to disclose environmental issues in Annual Report. The aim of this paper is to examine literature relating to environmental disclosures in the Annual Report and to identify this environmental disclosure, but also its location and typology, thereby defining current practices on environmental reporting in Annual Reports of selected firms in the chemical and oil & gas industries.

Keywords: corporate culture, social responsibility, environmental accounting, environmental responsibility

JEL Classification: M41, Q20

Suggested Citation

Salomone, Roberta and Galluccio, Giulia, Environmental Issues and Financial Reporting Trends: A Survey in the Chemical and Oil & Gas Industries (June 2001). FEEM Working Paper No. 32.2001. Available at SSRN: https://ssrn.com/abstract=278240 or http://dx.doi.org/10.2139/ssrn.278240

Roberta Salomone (Contact Author)

University of Messina - Department of Resources, Enterprise, Atmosphere and Quantitative Methodologies ( email )

Sezione di Scienze Merceologiche
Piazza S. Pugliatti 1
Messina, 98100
Italy
0039-90/771548-661499 (Phone)
0039-90/6764920 (Fax)

Giulia Galluccio

Det Norske Veritas ( email )

viale Colleoni 9
Palazzo Sirio 2
Agrate Brianza (Milan), MI 20041
Italy

Fondazione Eni Enrico Mattei (FEEM), Milan

Corso Magenta 63
20123 Milan
Italy

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