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Sustainability reporting, materiality, and accountability assessment in the airport industry

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  • Ioannis Karagiannis
  • Panagiotis Vouros
  • Antonis Skouloudis
  • Konstantinos Evangelinos

Abstract

Air travel is, nowadays, recognized as being one of the most popular modes of transport. Air transport is among the most significant contributors to the world gross domestic product and is accountable for a great environmental and social impact. Driven by the well‐established sustainability discourse and the vital role businesses can play in disseminating the sustainable development concept, this paper attempted to map airport industry's most material operational aspects and assess airport operators' accountability level on disclosing corporate information regarding airports' economic, environmental, and social performance. In this context, 33 reports and 903 material issues representing 193 international airports were reviewed and assessed, and a methodology for benchmarking the accountability level of best reporting airport operators was developed, showcasing materiality assessment as a useful management tool for strengthening airport operators' business strategy and enhancing their corporate performance. The paper indicated that (a) customer focus (i.e., health, safety and satisfaction), economic viability, and business continuity and preparedness are operational aspects of high materiality and (b) the disclosure level, especially concerning specific performance indicators, is still moderate. In conclusion, this study has shown that materiality assessment gains ground as a management tool among airports' management teams and the completeness of Sustainability reports is positively correlated with the “level” of adherence as described by the Global Reporting Initiative.

Suggested Citation

  • Ioannis Karagiannis & Panagiotis Vouros & Antonis Skouloudis & Konstantinos Evangelinos, 2019. "Sustainability reporting, materiality, and accountability assessment in the airport industry," Business Strategy and the Environment, Wiley Blackwell, vol. 28(7), pages 1370-1405, November.
    • Handle: RePEc:bla:bstrat:v:28:y:2019:i:7:p:1370-1405
    DOI: 10.1002/bse.2321
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    References listed on IDEAS

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    4. Eduardo Schiehll & Sam Kolahgar, 2021. "Financial materiality in the informativeness of sustainability reporting," Business Strategy and the Environment, Wiley Blackwell, vol. 30(2), pages 840-855, February.
    5. Lu Yang & Cindy S B Ngai & Wenze Lu, 2020. "Changing trends of corporate social responsibility reporting in the world-leading airlines," PLOS ONE, Public Library of Science, vol. 15(6), pages 1-19, June.
    6. Drago, Carlo & Fortuna, Fabio, 2023. "Investigating the Corporate Governance and Sustainability Relationship: A Bibliometric Analysis Using Keyword-Ensemble Community Detection," FEEM Working Papers 336985, Fondazione Eni Enrico Mattei (FEEM).
    7. Triantafyllos Papafloratos & Ioannis Markidis & Iordanis Kotzaivazoglou & Garyfallos Fragidis, 2023. "Sustainability Material Topics and Materiality Analysis in the Chemical Industry," Sustainability, MDPI, vol. 15(18), pages 1-23, September.
    8. Ricardo Jorge Raimundo & Maria Emilia Baltazar & Sandra P. Cruz, 2023. "Sustainability in the Airports Ecosystem: A Literature Review," Sustainability, MDPI, vol. 15(16), pages 1-18, August.
    9. Jeng-Bang Wang & Guan-Hua Wang & Chung-Ya Ou, 2023. "The Key Factors for Sustainability Reporting Adoption in the Semiconductor Industry Using the Hybrid FRST-PSO Technique and Fuzzy DEMATEL Approach," Sustainability, MDPI, vol. 15(3), pages 1-19, January.
    10. Murat Kucukvar & Khalel Ahmed Alawi & Galal M. Abdella & Muhammet Enis Bulak & Nuri C. Onat & Melih Bulu & Murat Yalçıntaş, 2021. "A frontier‐based managerial approach for relative sustainability performance assessment of the world's airports," Sustainable Development, John Wiley & Sons, Ltd., vol. 29(1), pages 89-107, January.
    11. Pei‐Ju Wu & Chun‐Kai Yang, 2021. "Sustainable development in aviation logistics: Successful drivers and business strategies," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 3763-3771, December.
    12. Perryman, Michael & Besco, Laurel & Suleiman, Carina & Lucato, Lindsay, 2022. "Ready for take off: Airline engagement with the United Nations Sustainable Development Goals," Journal of Air Transport Management, Elsevier, vol. 103(C).
    13. Ahmed Eid & May Salah & Mahmoud Barakat & Matevz Obrecht, 2022. "Airport Sustainability Awareness: A Theoretical Framework," Sustainability, MDPI, vol. 14(19), pages 1-22, September.
    14. Wesley Friske & Atanas Nik Nikolov & Todd Morgan, 2024. "Making the grade: An analysis of sustainability reporting standards and Global Reporting Initiative adherence ratings," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 2098-2108, May.
    15. Vitiana L'Abate & Filippo Vitolla & Paolo Esposito & Nicola Raimo, 2023. "The drivers of sustainability disclosure practices in the airport industry: A legitimacy theory perspective," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1903-1916, July.

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