A significant portion of responsibility for the global socio-economic crisis referred by the authors as the "sustainability challenge" lies within the private sector. Hence to initiate a global transformation towards sustainability the participation of companies is essential. One way to engage the private sector to do that is through public policy. The European Union takes this approach with the European Green Deal and more specifically - the Corporate Sustainability Reporting Directive (CSRD) - which is the main focus of this research. The directive aims to enhance transparency, raise awareness and increase responsibility of the corporate societal and environmental impact. This thesis investigates the potency of CSRD to drive transformation. For this purpose this research employs a Strategic Sustainable Development (SSD) lens to evaluate the CSRD, identifying its strengths and weaknesses. The research is divided into two parts: the first assesses the frameworks' design using the SSD lens, while the second involves interviews to gain deeper insights and pinpoint design and implementation gaps. The study also presents an overview of the challenges encountered during the implementation of the CSRD and proposes potential solutions. The thesis concludes with recommendations and suggests directions for future research.

The implementation of the Corporate Sustainability Reporting Directive (CSRD) signifies a pivotal shift in how organizations approach sustainability. This change introduces new institutional norms and pressures that can reshape organizational practices towards enhanced sustainability. One critical aspect of this transition is how organizations interpret and operationalize the CSRD framework, which has significant implications for organizational behavior and strategy. This study aims to empirically examine the responses of public sector organizations to the CSRD, focusing on the internal and external pressures that influence their sustainability reporting practices. It also intends to illustrate how stringent requirements affect the public sector. Through a qualitative analysis of interviews from ten public sector organizations, this study uncovers challenges and opportunities presented by the CSRD. Our findings indicate that there is a strong institutional pressure to comply with the new regulation, resulting in organizational efforts to promote sustainability. The results highlight that the public sector's traditional values of accountability, transparency, and public welfare facilitate a generally positive perception of the CSRD. However, the study also identifies substantial administrative and strategic challenges, particularly in the initial implementation phase. The conclusion of this study suggests that CSRD can transform organizational practices, culture, and strategies by institutionalizing norms within the public sector.

In 2022, the European Commission adopted a new directive that requires companies to report annually on sustainability in an attempt to reduce the environmental impact from companies around the world. The directive will apply to all large companies, a number of smaller companies and will indirectly affect companies in the entire value chain, including suppliers. This study aims to see how suppliers in a value chain are affected when new legislation is implemented on their customers. The study will also examine how the suppliers have historically chosen to work to adapt to sustainability requirements and to increase their competitiveness. Semi-structured interviews have been conducted to gather information about what affect the suppliers expected. An inductive analysis of the empirical material has been carried out and then compared to previous research in the area. The result shows that the suppliers see the directive as a positive development of sustainability and expect only a minor negative impact on resources such as time, finances and believe that a lack of knowledge can be an obstacle in the work. The suppliers also experienced that they historically had to adapt to the sustainability demands of customers, which has led to an increase in their competitiveness and secured the future of the companies. / År 2022 antog EU ett nytt direktiv som handlar om att företag krävs hållbarhetsrapportera årligen i ett försök att minska den miljöpåverkan som företag runt om i världen har. Direktivet kommer att gälla för alla stora företag, ett antal av de mindre företag och kommer indirekt att påverka företag i hela värdekedjan däribland leverantörer. Denna studie syftar till att se hur leverantörer i en värdekedja påverkas när nya lagstiftningar implementeras hos deras kunder som berörs av direktivet. Studien kommer även att undersöka hur leverantörerna historiskt valt att arbeta för att anpassa sig till hållbarhetskrav och för att öka sin konkurrenskraft. Semistrukturerade intervjuer har genomförts för att samla in information om hur leverantörer upplever att de påverkas. En induktiv analys av det empiriska materialet har genomförts och sedan jämförts mot tidigare forskning på området. Resultatet visar att leverantörerna ser direktivet som en positiv utveckling av hållbarhetsarbete och förväntar sig endast mindre negativ påverkan på resurser som tid, ekonomi och anser att även en kunskapsbrist kan vara ett hinder i arbetet. Leverantörerna har också upplevt att de historiskt har behövt anpassa sig till hållbarhetskrav från kunder, vilket har lett till en ökning av deras konkurrenskraft och säkrat företagens framtid.

Abstract Background: The European Commission has released the Corporate Sustainability Reporting Directive (CSRD) to make Europe the first climate-neutral continent, targeting a 55% reduction in greenhouse gas emissions by 2030. The directive shifts sustainability reporting from a voluntary to mandatory framework, significantly expanding the range of companies to report. The implementation has gradually started in 2024.   Purpose: The study aims to investigate how Swedish consultancy firms are implementing the CSRD regulations among their clients and how the new regulations are communicated. Understanding this implementation phase can provide insights to manage stakeholder relationships and institutional pressure to remain competitive.  Method: Adopting an interpretivist paradigm, this case study uses Stakeholder and Institutional Theory to explore CSRD implementation among consultancy firms, clients, and other stakeholders. Qualitative interviews were conducted, followed by thematic analysis to identify key mechanisms for implementing the new reporting standards. Conclusion: The findings conclude that sustainability reporting has transitioned from a strategic choice to an institutional requirement. Companies now depend on sustainability consultants to develop strategies for complying with CSRD. Additionally, stakeholder engagement within companies becomes improved with the implementation of CSRD.

Datum: 2024-05-29 Nivå: Kandidatuppsats i Företagsekonomi, 15 hp  Institution: Akademin för Ekonomi, Samhälle och Teknik, Mälardalens Universitet  Författare: Maja Gustafsson Linnéa Jacobsson Matilda Rasmus  Titel: Frivillig hållbarhetsredovisning hos företag noterade på Stockholmsbörsen - En kvantitativ studie utifrån legitimitets- och intressentteorin.  Handledare: Dariusz Osowski Nyckelord: Hållbarhetsrapportering, CSR, GRI, legitimitetsteorin, intressentteorin. Forskningsfrågor: - Vilka samband finns det mellan finansiella faktorer och att frivilligt hållbarhetsredovisa hos företag som är noterade på Stockholmsbörsen? - Vilka samband finns det mellan icke-finansiella faktorer och att frivilligt hållbarhetsredovisa hos företag som är noterade på Stockholmsbörsen? Syfte: Syftet med denna kandidatuppsats är att hypotespröva samband mellan faktorerna företagsstorlek, lönsamhet, extern granskning av intressenter, rykteshantering och att frivilligt hållbarhetsredovisa.  Metod: Studien tillämpar en kvantitativ multimetod med en deduktiv ansats. Datainsamlingen genomfördes med hjälp av en enkätundersökning för att samla in primärdata. Sekundärdata samlades in genom databasen Retriever Business. I den teoretiska referensramen har relevanta vetenskapliga artiklar och annan litteratur använts. Slutsats: Studien finner ett positivt samband mellan frivillig hållbarhetsredovisning och de finansiella faktorerna, storlek och lönsamhet. Sambandet med lönsamhet är svagt. Resultatet visar även ett positivt samband mellan frivillig hållbarhetsredovisning och de icke-finansiella faktorerna, extern granskning av intressenter och rykteshantering. Företagsledningen och styrelsen i företag noterade på Stockholmsbörsen kan ha användning av studien, för att hållbarhetsredovisning är en del av en företagsstrategi. Studien visar samband mellan faktorer och hållbarhetsredovisning som kan vara till användning i strategin. / Date: 2024-05-29 Level: Bachelor thesis in Business Administration, 15 cr  Institution: School of Business, Society and Engineering, Mälardalen University  Authors: Maja Gustafsson Linnéa Jacobsson Matilda Rasmus Title: Voluntary sustainability reporting for companies listed on the StockholmStock Exchange - A quantitative study based on legitimacy- and stakeholdertheory. Supervisor: Dariusz Osowski Keywords: Sustainability reporting, CSR, GRI, legitimacy theory, stakeholder theory. Research questions: - What causality is there between financial factors and voluntary sustainabilityreporting by companies that are listed on the Stockholm Stock Exchange? - What causality is there between non-financial factors and voluntary sustainabilityreporting by companies that are listed on the Stockholm Stock Exchange? Purpose: The purpose of this master's thesis is to hypothesis test the relationship between the factors size, profitability, external scrutiny by stakeholders, reputation management and to voluntarily report on sustainability. Method: The study applies a quantitative multi-method with a deductive approach. Data collection was conducted using a questionnaire survey to collect primary data. Secondary data was collected through the Retriever Business database. In the theoretical frame of reference, relevant scientific articles and other literature have been used. Conclusion: The study finds a positive relationship between voluntary sustainability reporting and the financial factors, size and profitability. The connection with profitability is weak. The result also shows a positive relationship between voluntary sustainability reporting and the non-financial factors, external stakeholder review and reputation management. The company management and the board of companies listed on the Stockholm Stock Exchange can use the study, because sustainability reporting is part of a company strategy. The study shows causality between factors and sustainability reporting that can be used in the strategy.

This study investigates how the listed companies in Sri Lanka gain financial benefits from Environmental, Social, and Governance (ESG) reporting. As businesses increasingly adopt ESG reporting to disclose their commitment to sustainability, corporate social responsibility (CSR), and ethical governance, understanding its impact is crucial. However, in developing nations like Sri Lanka, the empirical relationship between ESG reporting and financial performance remains poorly understood. By examining how ESG reporting affects financial performance metrics such as Return on Equity (ROE) and Return on Assets (ROA), this study aims to fill this knowledge gap.Using a quantitative approach, this study analyses the ESG reporting and financial data of a sample of two hundred thirteen listed companies in Colombo Stock Exchange (CSE) Sri Lanka. The secondary data used for the study, was collected from published annual reports of the listed companies and Refinitiv Eikon database for the period from 2021 to 2023. The quantitative analysis includes regression and correlation techniques to assess the relationship between ESG reporting and financial performance. The results show a weak positive relationship between financial performance and ESG reporting, indicating that although ESG reporting practices may improve financial outcomes of the listed companies in Sri Lanka, this relationship is not particularly strong in the Sri Lankan context. By presenting real-world information from the perspective of emerging markets, this study adds to the body of literature on ESG reporting in academia. It emphasizes the value of strong ESG reporting systems and provides investors, politicians, and accounting professionals with useful insights. The study emphasizes the necessity of further investigations into ESG practices with a view to properly identify the consequences of ESG reporting practices for sustainability and value creation in Sri Lanka and beyond.

Hållbarhet är i dagens samhälle är hållbarhet viktigt för företag att förhålla sig till. Det finns både krav och förväntan riktade mot verksamma företag att rapportera kring deras arbete för att eftersträva en så hållbar verksamhet som möjligt. Inom området finns det många olika regel- och ramverk som ska följas beroende på vilken bransch företaget är verksamt inom men gemensamt för samtliga är att det finns en förväntan från samhället att företaget agerar. Syftet med denna studie är därmed att undersöka vilka skillnader som finns mellan mode-, fordons- och finansbranschen avseende hållbarhetsrapportering med utgångspunkt ur intressentmodellen och institutionell teori. För att undersöka skillnaderna mellan branscherna så har det använts en kvalitativ innehållsanalys. Det har valts ut fyra stycken företag inom respektive bransch, samtliga företag är börsnoterade i Sverige. Från dessa företag har hållbarhetsrapporter som är publicerade 2022 analyserats och därefter kodats utifrån en kodningsmall som är upprättad utifrån GRI. Analysen av mode-, fordon- och finansbranschens hållbarhetsredovisningar har lett till slutsatsen att det finns betydande skillnader i innehållet av rapporterna. Beroende på vilka intressenter som företagen inom branscherna riktar in sig mot så varierar innehållet inom de olika CSR-områdena. Detta stämmer även överens med liknande studier som gjorts tidigare, som visar att det finns en koppling kring vad företag väljer att redovisa och vilka dess intressenter är. / In today's society, sustainability is an important issue for companies to address. There are both requirements and expectations aimed at active companies to report on their efforts to strive for the most sustainable operations possible. In this area, there are many different regulations and frameworks that must be followed depending on the industry in which the company operates, but common to all is that there is an expectation from society that the company acts. The purpose of this study is therefore to investigate the differences between the fashion, automotive and financial industries regarding sustainability reporting based on the stakeholder theory and institutional theory. A qualitative content analysis has been used to examine the differences between the industries. Four companies have been selected within each industry, all of which are listed in Sweden. From these companies, sustainability reports published in 2022 have been analyzed and then coded based on a coding template that is established based on GRI. The analysis of the fashion, automotive and financial sectors' sustainability reports has led to the conclusion that there are significant differences in the content of the reports. Depending on which stakeholders the companies in the industries are targeting, the content of the different CSR areas varies. This is also consistent with similar studies conducted earlier, which show that there is a link between what companies choose to report and who their stakeholders are.

The fashion industry is gradually shifting from its dependence on a wasteful system towards the integration of increasingly sustainable practices. Accordingly, players in the fashion industry are beginning to communicate sustainability through channels such as Sustainability Reporting and Social Media. This study’s purpose is to explore the connections between annual Sustainability Reporting and Social Media by observing the way they convey Sustainability Communication. Each key concept of this study is researched at length by current academics, however, the combination of the three in the context of Sustainable Fashion is not well researched. Sustainable Fashion is understood as the next reality for the industry, embracing all aspects of the Triple Bottom Line, to overcome current challenges. Hence, engaging in Sustainability Communication and Reporting is a step towards transparency, in which the role of Social Media is growing. Studying Sustainability Communication through Social Media and Sustainability Reporting provides an idea of how Sustainable Fashion brands communicate their sustainability efforts. Two Swedish companies were observed, Dedicated and Lindex, both with a focus on elements of the Triple Bottom Line: Environmental and social sustainability respectively. The study was conducted with an explorative and abductive approach, through a Qualitative Content Analysis following two main parts: Firstly, analyzing the content of the brands’ sustainability reports, and secondly analyzing and categorizing the content of their Instagram posts. A final analysis examined contents from sustainability reports and Social Media to identify diverse Sustainability Communication practices. The main findings were discussed in line with the set purpose. First, the analysis suggested that Sustainability Communication is disparate from reports to Social Media. As Social Media was seldom used to disclose their sustainability practices, it was instead embedded in the brands’ identities. When sustainability practices were communicated on Social Media, only a portion reflected the reports’ contents. Second, it was observed that despite the different sustainability focus between the brands and the lack of mandatory reporting standards, the two approached Sustainability Communication similarly. Overall, according to the findings and supported by previous research, Social Media presents an opportunity for brands to communicate their complex sustainability activities in a simplified way. Harnessing it can potentially heighten transparency and make information accessible to most consumers. The managerial contributions of this study concern managers for Sustainable Fashion brands to understand and synthesize their Sustainability Communication on Social Media.

Jämförbarhet i hållbarhetsrapporten är en nödvändighet för att informationen ska vara användbar för användarna. För att främja jämförbar information ska svenska företag följa hållbarhetslagen som bygger på EU-direktivet om hållbarhetsrapportering. Till sin hjälp kan företagen tillämpa internationella frivilliga ramverk som exempelvis Global Reporting Initiative (GRI). I och med att det finns ett flertal frivilliga ramverk att tillämpa kan företagen välja ifall dem vill följa något ramverk, med det utgör inget krav, för att uppfylla hållbarhetslagen. Detta utrymme av frivillighet bidrar till den stora variation i antalet resultatindikatorer som företagen lämnar upplysningar om i hållbarhetsrapporten, vilket gör att informationen inte blir jämförbar. Denna studie vill bidra med kunskap till forskningsfältet genom att (1) kartlägga jämförbarheten i hållbarhetsrapporter i form av hur utförligt företagen noterade på Stockholmsbörsen Large Cap tillämpar resultatindikatorer till rapporteringskravets kategorier och (2) förklara och analysera sambandet mellan företagens branschtillhörighet, företagens andel kvinnor i styrelsen och utförlighetsnivån i hållbarhetsrapporter som omfattas av hållbarhetslagen. För att besvara studiens syfte genomfördes en kvantitativ innehållsanalys av samtliga företag som uppfyllde kriterierna för hållbarhetsrapportering och GRI:s ramverk på Stockholmsbörsen Large Cap. Resultatet visade att båda sambanden var relativt svaga. Sambandet för företagens branschtillhörighet visade sig något starkare jämfört med andelen kvinnor i styrelsen. Det tyder på att det finns andra underliggande faktorer som påverkar jämförbarheten i hållbarhetsrapporten. / The comparability in the sustainability report is a necessity to serve its main purpose, which is to be useful for the stakeholders. To encourage comparable information in the sustainability report, Swedish companies must comply with the national sustainability law, which is based on the EU directive of sustainability reporting. To comply with the national sustainability law companies can apply international voluntary frameworks such as Global Reporting Initiative (GRI), but there is no imperative requirement. All the voluntary frameworks may contribute to the observed differences of indicators disclosed in the sustainability reports, which makes the information not comparable. This study contributes to the field of research by (1) mapping the comparability in the sustainability reports of firms listed on the Stockholm Stock Exchange Large Cap by investigating the level of completeness for the reporting requirements categories and (2) explain and analyse the correlation between the company´s sector, board diversity and the level of completeness of firms that are covered by the national sustainability law. Therefore, a quantity content analysis was conducted on all companies in our sample. The findings display a weak relationship between the investigated variables. This suggest that there are other underlying factors that may affect the comparability in the sustainability reports.

The aim of the study is to analyze how Swedish large fashion companies' sustainability reports quality has been changed 2016-2019. The study wants to create a deeper understanding of the legislative change initiated by the EU that Sweden introduced in 2017. Quality is declared to consist of the three categories of credibility, content and communication. The study's issue was: “How has the quality of fashion companies' sustainability reports been affected when they became statutory to be produced?”. The sample consisted of 14 companies. Some of the companies prepared joint sustainability reports which led to the number of sustainability reports that the study analyzed being 10 reports per year 2016–2019. An additional report was added for 2019 when a company chose to prepare a report separately from the parent company. A qualitative content analysis was used as a method to study the selected 41 sustainability reports. The theories and concepts used in the study for analysis were triple bottom line, institutional theory, stakeholder theory, signal theory and GRI. The results showed that companies' quality of sustainability reports have changed both in accordance with the EU Directive 2014/95/EU, but largely due to surrounding factors. The study has provided a deeper understanding of companies' sustainability reporting and shown that there is no unambiguous change in quality when sustainability reporting for larger companies became mandatory by law.