The dark side of the new space economy: Insights from the sustainability reporting practices of government space agencies and private space companies

Governmental and private companies in the New Space Economy collaborate to realise valuable space products and services, yet this partnership raises sustainability concerns. This study investigates whether and how space companies address social and environmental aspects in their collaborative activities. Focusing on the launch service segment in Europe and the USA, we conducted a content analysis of financial and non‐financial reports and websites by using the legitimacy theory framework. This study reveals that space companies emphasise the positive social and environmental impacts of their collaboration while providing limited information on potential drawbacks. They extensively outline measures to mitigate social and environmental damages, aiming to present a favourable image of their activities. This research contributes to fostering the debate on social and environmental accounting and accountability of space actors. It sheds light on how they report on sustainability aspects offering insights into the legitimacy strategies they use and promoting their accountability.