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Title: ASSESSMENT OF ENVIRONMENTAL REPORTING OF ENERGY SECTOR COMPANIES LISTED ON THE WARSAW STOCK EXCHANGE IN THE LIGHT OF DIRECTIVE 2014/95/EU
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ASSESSMENT OF ENVIRONMENTAL REPORTING OF ENERGY SECTOR COMPANIES LISTED ON THE WARSAW STOCK EXCHANGE IN THE LIGHT OF DIRECTIVE 2014/95/EU
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1314-2704
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English
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18
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5.3
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Background: In Poland, there has long been a statutory obligation for economic entities to report minimum information on the natural environment, usually of a non-financial nature. After the implementation of Directive 2014/95/EU on the disclosure of non-financial and diversity information to the Polish regulations (Accounting Act), there were changes in the scope of environmental disclosures and the group of enterprises covered by this reporting obligation increased. The implementation of the new directive into Polish law caused that the largest enterprises in Poland, being large public interest entities, including energy sector companies listed on the Warsaw Stock Exchange, are required to provide more detailed and extensive reporting of non-financial information as part of the activity report or in the form of a separate report.
The aim of the paper is to analyze and assess the type and scope of environmental information disclosure in financial and non-financial reports in the period of 2014-2016, which were prepared in the light of Directive 2014/95/EU by energy sector companies listed on the Warsaw Stock Exchange (Index 30). Methods: The research team used the method of meta-analysis of the literature and the method of qualitative and comparative analysis of information contained in the financial and non-financial reports of energy sector companies listed on the Warsaw Stock Exchange for the years 2014-2016. The companies listed on the WIG 30 index were selected for the analysis. In order to formulate conclusions, the methods of synthesis and deduction were used. Results: The authors have analyzed and assessed the state of environmental reporting by the largest companies from the energy sector in Poland in the context of Directive 2014/95/EU implementation. The authors noted an increase in the importance of environmental disclosures in non-financial reports over the analyzed period, although Directive 2014/95/EU was not yet in force. In the last two years of the period under investigation, far more disclosures appeared, usually grouped thematically and problematically. At the same time, the authors noted companies? discretion regarding the scope and form of these disclosures. In some investigated companies, the activity report was extensive and in some a separate report was prepared. At the same time, the authors indicated a deficit of environmental information disclosures in financial reports in each analyzed period. Conclusions: The authors positively assess the changes introduced to financial and non-financial reporting in the field of environmental reporting in connection with the Directive 2014/95/EU implementation into Polish legal regulations and their effect on Polish public companies from the energy sector. However, according to the authors of the paper, it is necessary to introduce more detailed rules of environmental disclosures in the regulatory framework in force in order to eliminate the differences in the entities' environmental reporting. |
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conference
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18th International Multidisciplinary Scientific GeoConference SGEM 2018
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18th International Multidisciplinary Scientific GeoConference SGEM 2018, 02-08 July, 2018
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Proceedings Paper
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STEF92 Technology
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International Multidisciplinary Scientific GeoConference-SGEM
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Bulgarian Acad Sci; Acad Sci Czech Republ; Latvian Acad Sci; Polish Acad Sci; Russian Acad Sci; Serbian Acad Sci & Arts; Slovak Acad Sci; Natl Acad Sci Ukraine; Natl Acad Sci Armenia; Sci Council Japan; World Acad Sci; European Acad Sci, Arts & Letters; Ac
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75-86
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02-08 July, 2018
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website
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cdrom
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1572
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environmental accounting; environmental reporting; financial and non-financial information
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