IDEAS home Printed from https://ideas.repec.org/a/bla/bstrat/v33y2024i8p7800-7824.html
   My bibliography  Save this article

Biodiversity reporting by United Kingdom (UK)‐listed companies: A review of extent, content and readability of disclosures

Author

Listed:
  • Warren Maroun
  • Dusan Ecim

Abstract

This study examines biodiversity reporting by UK‐listed companies. An instrument is developed, based on earlier research, and used to analyse biodiversity‐related disclosures as either policy considerations or actions taken to conserve biodiversity. A mixed design is employed. The extent of reporting, information content of disclosures and their readability are used to provide an overarching perspective on how firms internalise biodiversity. Outliers are identified and their reports are examined interpretively to identify how leading reporters understand biodiversity as a policy imperative and factor it into their operational and managerial performances. This qualitative analysis highlights best practices that can be used by other entities interested in developing the accounting and management infrastructure necessary for reporting comprehensively on biodiversity. Best practices are, however, isolated and stand in stark contrast with how organisations are dealing with biodiversity on average. At the policy level, there is little on how biodiversity is defined and the rationale for wanting to protect biodiversity. When it comes to performance, few organisations are setting detailed biodiversity‐related targets linked clearly to operational plans, risk assessments and key performance indicators. Post‐implementation reviews of conservation initiatives are seldom conducted and biodiversity is not being factored into valuations, cost assessments and project appraisals. Understanding these limitations is timely given the international community's recent efforts to develop standards for extra‐financial reporting. The results will be relevant for regulators, scholars and practitioners interested in advancing the quality of biodiversity reporting and factoring biodiversity into mainstream business discourses.

Suggested Citation

  • Warren Maroun & Dusan Ecim, 2024. "Biodiversity reporting by United Kingdom (UK)‐listed companies: A review of extent, content and readability of disclosures," Business Strategy and the Environment, Wiley Blackwell, vol. 33(8), pages 7800-7824, December.
    • Handle: RePEc:bla:bstrat:v:33:y:2024:i:8:p:7800-7824
    DOI: 10.1002/bse.3866
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/bse.3866
    Download Restriction: no
    File URL: https://libkey.io/10.1002/bse.3866?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Carol A. Adams, 2017. "Conceptualising the contemporary corporate value creation process," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 30(4), pages 906-931, May.
    2. Rob Gray & Dave Owen & Keith Maunders, 1988. "Corporate Social Reporting: Emerging Trends in Accountability and the Social Contract," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 1(1), pages 6-20, June.
    3. Warren Maroun & Jill Atkins, 2018. "The emancipatory potential of extinction accounting: Exploring current practice in integrated reports," Accounting Forum, Taylor & Francis Journals, vol. 42(1), pages 102-118, March.
    4. repec:eme:aaaj00:aaaj-04-2016-2529 is not listed on IDEAS
    5. Cho, Charles H. & Laine, Matias & Roberts, Robin W. & Rodrigue, Michelle, 2015. "Organized hypocrisy, organizational façades, and sustainability reporting," Accounting, Organizations and Society, Elsevier, vol. 40(C), pages 78-94.
    6. Warren Maroun & Jill Atkins, 2021. "A Practical Application of Accounting for Biodiversity: The Case of Soil Health," Social and Environmental Accountability Journal, Taylor & Francis Journals, vol. 41(1-2), pages 37-65, May.
    7. Beretta, Sergio & Bozzolan, Saverio, 2004. "Reply to: Discussions of "A framework for the analysis of firm risk communication"," The International Journal of Accounting, Elsevier, vol. 39(3), pages 303-305.
    8. Assunta Di Vaio & Theodore Syriopoulos & Federico Alvino & Rosa Palladino, 2020. "“Integrated thinking and reporting” towards sustainable business models: a concise bibliometric analysis," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 29(4), pages 691-719, July.
    9. Elda du Toit, 2017. "The readability of integrated reports," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 25(4), pages 629-653, October.
    10. Wiseman, Joanne, 1982. "An evaluation of environmental disclosures made in corporate annual reports," Accounting, Organizations and Society, Elsevier, vol. 7(1), pages 53-63, January.
    11. Michael John Jones, 2003. "Accounting for biodiversity: operationalising environmental accounting," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 16(5), pages 762-789, December.
    12. de Villiers, Charl & van Staden, Chris J., 2006. "Can less environmental disclosure have a legitimising effect? Evidence from Africa," Accounting, Organizations and Society, Elsevier, vol. 31(8), pages 763-781, November.
    13. Grant Samkin & Christa Wingard, 2020. "Understanding systemic change in the context of the social and environmental disclosures of a conservation organisation in a developing country," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 34(5), pages 1275-1304, September.
    14. M. Büchling & W. Maroun, 2021. "Accounting for Biodiversity and Extinction: The Case of South African National Parks," Social and Environmental Accountability Journal, Taylor & Francis Journals, vol. 41(1-2), pages 66-97, May.
    15. Al-Tuwaijri, Sulaiman A. & Christensen, Theodore E. & Hughes, K. II, 2004. "The relations among environmental disclosure, environmental performance, and economic performance: a simultaneous equations approach," Accounting, Organizations and Society, Elsevier, vol. 29(5-6), pages 447-471.
    16. Adams, Carol A. & Frost, Geoffrey R., 2008. "Integrating sustainability reporting into management practices," Accounting forum, Elsevier, vol. 32(4), pages 288-302.
    17. Annika Schneider & Grant Samkin & Howard Davey, 2014. "Biodiversity reporting by New Zealand local authorities: the current state of play," Sustainability Accounting, Management and Policy Journal, Emerald Group Publishing Limited, vol. 5(4), pages 425-456, October.
    18. Christina Boedker, 2010. "Ostensive versus performative approaches for theorising accounting‐strategy research," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 23(5), pages 595-625, June.
    19. Richard Slack, 2022. "Capital market perspectives on sustainability accounting and reporting," Chapters, in: Carol A. Adams (ed.), Handbook of Accounting and Sustainability, chapter 5, pages 67-88, Edward Elgar Publishing.
    20. Ruth Dimes & Charl de Villiers, 2020. "How management control systems enable and constrain integrated thinking," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 29(4), pages 851-872, September.
    21. Gallhofer, Sonja & Haslam, Jim & Yonekura, Akira, 2013. "Further critical reflections on a contribution to the methodological issues debate in accounting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 24(3), pages 191-206.
    22. Abeer Hassan & Ahmed A. Elamer & Mary Fletcher & Nawreen Sobhan, 2020. "Voluntary assurance of sustainability reporting: evidence from an emerging economy," Accounting Research Journal, Emerald Group Publishing Limited, vol. 33(2), pages 391-410, February.
    23. Michael Buchling & Warren Maroun, 2021. "Biodiversity reporting practices of the South African national parks," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 19(1), pages 138-165, December.
    24. Maroun, Warren, 2017. "Assuring the integrated report: Insights and recommendations from auditors and preparers," The British Accounting Review, Elsevier, vol. 49(3), pages 329-346.
    25. Olivier Boiral, 2016. "Accounting for the Unaccountable: Biodiversity Reporting and Impression Management," Journal of Business Ethics, Springer, vol. 135(4), pages 751-768, June.
    26. Markus J. Milne & Helen Tregidga & Sara Walton, 2009. "Words not actions! The ideological role of sustainable development reporting," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 22(8), pages 1211-1257, October.
    27. Beretta, Sergio & Bozzolan, Saverio, 2004. "A framework for the analysis of firm risk communication," The International Journal of Accounting, Elsevier, vol. 39(3), pages 265-288.
    28. Michael John Jones & Jill Frances Solomon, 2013. "Problematising accounting for biodiversity," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 26(5), pages 668-687, June.
    29. Sabina Scarpellini & Luz María Marín-Vinuesa & Alfonso Aranda-Usón & Pilar Portillo-Tarragona, 2020. "Dynamic capabilities and environmental accounting for the circular economy in businesses," Sustainability Accounting, Management and Policy Journal, Emerald Group Publishing Limited, vol. 11(7), pages 1129-1158, January.
    30. Gu, Minhao & Yang, Lu & Huo, Baofeng, 2021. "The impact of information technology usage on supply chain resilience and performance: An ambidexterous view," International Journal of Production Economics, Elsevier, vol. 232(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Thomas Gutmayer & Dannielle Cerbone & Warren Maroun, 2022. "An Evaluation of Business Model Disclosures in Integrated Reports," Australian Accounting Review, CPA Australia, vol. 32(2), pages 220-237, June.
    2. Barry Ackers & Adeyemi Adebayo, 2024. "The nexus between non‐governmental organisations involved in conservation and profit‐seeking state‐owned enterprises: A potential alternative credibility enhancing mechanism for biodiversity disclosur," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 2699-2714, July.
    3. Beck, A. Cornelia & Campbell, David & Shrives, Philip J., 2010. "Content analysis in environmental reporting research: Enrichment and rehearsal of the method in a British–German context," The British Accounting Review, Elsevier, vol. 42(3), pages 207-222.
    4. Silvia Ruiz-Blanco & Silvia Romero & Belen Fernandez-Feijoo, 2022. "Green, blue or black, but washing–What company characteristics determine greenwashing?," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(3), pages 4024-4045, March.
    5. Warren Maroun, 2020. "A Conceptual Model for Understanding Corporate Social Responsibility Assurance Practice," Journal of Business Ethics, Springer, vol. 161(1), pages 187-209, January.
    6. Silvia Romero & Silvia Ruiz & Belen Fernandez‐Feijoo, 2019. "Sustainability reporting and stakeholder engagement in Spain: Different instruments, different quality," Business Strategy and the Environment, Wiley Blackwell, vol. 28(1), pages 221-232, January.
    7. Michelon, Giovanna & Pilonato, Silvia & Ricceri, Federica, 2015. "CSR reporting practices and the quality of disclosure: An empirical analysis," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 33(C), pages 59-78.
    8. Raf Orens & Walter Aerts & Denis Cormier, 2010. "Web‐Based Non‐Financial Disclosure and Cost of Finance," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 37(9‐10), pages 1057-1093, November.
    9. Nuradhi Kalpani Jayasiri & Sriyalatha Kumarasinghe & Rakesh Pandey, 2023. "12 years of integrated reporting: A review of research," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 2187-2243, June.
    10. Hooks, Jill & van Staden, Chris J., 2011. "Evaluating environmental disclosures: The relationship between quality and extent measures," The British Accounting Review, Elsevier, vol. 43(3), pages 200-213.
    11. Charles H. Cho & Michele Fabrizi & Silvia Pilonato & Federica Ricceri, 2024. "Not all bad news is harmful to a good reputation: evidence from the most visible companies in the US," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 28(1), pages 9-36, March.
    12. Venturelli, Andrea & Ligorio, Lorenzo & de Nuccio, Elbano, 2023. "Biodiversity accountability in water utilities: A case study," Utilities Policy, Elsevier, vol. 81(C).
    13. Ishmael Tingbani & Lyton Chithambo & Venancio Tauringana & Nikolaos Papanikolaou, 2020. "Board gender diversity, environmental committee and greenhouse gas voluntary disclosures," Business Strategy and the Environment, Wiley Blackwell, vol. 29(6), pages 2194-2210, September.
    14. Elijido-Ten, Evangeline, 2011. "Media coverage and voluntary environmental disclosures: A developing country exploratory experiment," Accounting forum, Elsevier, vol. 35(3), pages 139-157.
    15. Charles H. Cho & Jonathan Maurice & Emmanuelle Nègre & Marie-Anne Verdier, 2016. "Is environmental disclosure good for the environment? A meta-analysis and research agenda," Post-Print halshs-01369422, HAL.
    16. María Luisa Pajuelo Moreno & Teresa Duarte-Atoche, 2019. "Relationship between Sustainable Disclosure and Performance—An Extension of Ullmann’s Model," Sustainability, MDPI, vol. 11(16), pages 1-33, August.
    17. Le Thuy Duong Ha & Mansi Mansi, 2023. "Accounting for waste: Waste reporting in Australian metals and mining companies," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 4683-4711, December.
    18. Bouten, Lies & Everaert, Patricia, 2015. "Social and environmental reporting in Belgium: ‘Pour vivre heureux, vivons cachés’," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 33(C), pages 24-43.
    19. Bouten, Lies & Everaert, Patricia & Van Liedekerke, Luc & De Moor, Lieven & Christiaens, Johan, 2011. "Corporate social responsibility reporting: A comprehensive picture?," Accounting forum, Elsevier, vol. 35(3), pages 187-204.
    20. Cerbone, Dannielle & Maroun, Warren, 2020. "Materiality in an integrated reporting setting: Insights using an institutional logics framework," The British Accounting Review, Elsevier, vol. 52(3).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:bstrat:v:33:y:2024:i:8:p:7800-7824. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1099-0836 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.