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The Harmonization of Eco-efficiency Standards: An Analysis on the Energy Enterprises of the G7 Group and the Emerging E7 Countries

Author

Listed:
  • Andrey Bulgakov

    (Faculty of Economic Sciences, Research University Higher School of Economics: 26/4 Shabolovka Street, Moscow, 119049, Russia)

  • Arseniy Krikunov

    (Department of Accounting, Analysis and Audit, Lomonosov Moscow State University: 1/46 Leninskiye Gory, 3rd Academic Building, Moscow, 119991, Russia.)

Abstract

Attempts are being made to harmonize the many standards of business practice that exist outside of financial reporting, but they are limited either to a single industry or to the views of individual researchers. In this article we have harmonized international standards of eco-efficiency, compiled on the basis of multi-stakeholder approach and tested the set of indicators developed for the energy companies of the Group of Seven (G7) and the Emerging Seven (E7). We analyzed the non-financial reports of 56 companies from the global reporting initiative database for the period 2015-2016 and plotted the decoupling of value added and environmental pollution. The study found that G7 energy companies do not adhere to the concept of sustainable development, while for E7 companies there is an absolute decoupling except for greenhouse gas emissions. We come to conclusion that socially responsible companies are able to gain competitive advantages in the framework of sustainable development, provided the transparency of business.

Suggested Citation

  • Andrey Bulgakov & Arseniy Krikunov, 2020. "The Harmonization of Eco-efficiency Standards: An Analysis on the Energy Enterprises of the G7 Group and the Emerging E7 Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 10(2), pages 227-232.
    • Handle: RePEc:eco:journ2:2020-02-28
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    References listed on IDEAS

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    More about this item

    Keywords

    standards harmonization; eco-efficiency; sustainable development; decoupling;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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