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Economic, environmental, and social performance indicators of sustainability reporting: Evidence from the Russian oil and gas industry

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  • Orazalin, Nurlan
  • Mahmood, Monowar

Abstract

This study aims to explore the extent and nature of sustainability reporting practices of the largest public oil and gas companies in Russia. It further investigates the impacts of possible underlying factors on the quality of sustainability information in the given emerging economy. This study uses data on sustainability performance manually collected from sustainability reports and annual reports and financial data extracted from audited financial statements available on company websites. The results reveal that standalone sustainability reporting, firm age, and auditor type are the main factors in the dissemination of sustainability information in the Russian context. The findings suggest that companies with a share of foreign ownership disclose more transparent sustainability information than companies owned only by local investors. Additionally, companies that prepare sustainability reports only in Russian provide more valuable sustainability information than companies that publish reports in both English and Russian. The findings of the study are useful for regulators, policymakers, global investors, and managers in promoting the high application standards of the Global Reporting Initiative framework, formulating corporate disclosure policies for listed companies, and developing sustainability practices in the context of emerging markets.

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  • Orazalin, Nurlan & Mahmood, Monowar, 2018. "Economic, environmental, and social performance indicators of sustainability reporting: Evidence from the Russian oil and gas industry," Energy Policy, Elsevier, vol. 121(C), pages 70-79.
    • Handle: RePEc:eee:enepol:v:121:y:2018:i:c:p:70-79
    DOI: 10.1016/j.enpol.2018.06.015
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