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A Matching Analysis Of Esg Information Disclosed In Sustainability And Financial Reports Of High-Polluting Companies From The Oil Industry

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  • Réka Melinda TÖRÖK

    (Accountancy, Doctoral School of Economics and Business Administration, West University of Timisoara, Timisoara, Romania)

Abstract

The financial world has a prominent role to play in the global economic action plan. The financial sector together with stock exchanges around the world promotes sustainability, environmental (Environmental), social (Social), and governance (Governance), i.e. ESG factors, and the importance of incorporating them into investment decision-making and capital allocation to sustainable assets. The purpose of the undertaken study is to observe and analyze the extent to which the commitments made through the Sustainability Reports materialize and have financial quantifications in the Annual Financial Reports published by three large companies in the oil sector. The OMV Petrom ESG disclosure score determined based on the information in the sustainability report is very close to the ESG estimates score calculated from the financial report, which allows us to consider that the commitments in the sustainability report have been achieved.

Suggested Citation

  • Réka Melinda TÖRÖK, 2023. "A Matching Analysis Of Esg Information Disclosed In Sustainability And Financial Reports Of High-Polluting Companies From The Oil Industry," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 32(2), pages 127-135, December.
    • Handle: RePEc:ora:journl:v:2:y:2023:i:2:p:127-135
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    References listed on IDEAS

    as
    1. Gillan, Stuart L. & Koch, Andrew & Starks, Laura T., 2021. "Firms and social responsibility: A review of ESG and CSR research in corporate finance," Journal of Corporate Finance, Elsevier, vol. 66(C).
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    More about this item

    Keywords

    sustainability; annual reports; ESG; accounting estimates.;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • 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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