A Study of Environmental Disclosures in the European Oil and Gas Industry : With Reference to the Global Reporting Initiative

Background and Problem: Sustainability reporting is a growing trend in the society. One of the most exposed industries to environmental matters is the oil and gas industry, which commit to sustainability reporting in order to deal with the industry’s destructive operations. The Global Reporting Initiative (GRI) provides voluntary guidelines in sustainability reporting, which increase transparency for the company’s stakeholders. However, it is controversial that the oil and gas industry put a great effort into sustainability reporting even though the industry is environmentally destructive. This gap is interesting to investigate and will contribute to the academic discussion. Therefore, this thesis will focus on the sustainability reporting in the oil and gas industry and to what extent the industry actually discloses material environmental information about their operations. Purpose: The purpose of this thesis is to examine how the sustainability reporting has changed in the oil and gas industry in Europe. This is performed from a stakeholder perspective. Further, it aims to investigate how oil and gas companies have followed the GRI guidelines and how the reporting has changed over time. Method: A quantitative method is used in order to answer the research questions. The data sample is based on oil and gas companies reporting according to the GRI framework during year 2012 to year 2014. The empirical data is gathered from the studied companies’ environmental category in their sustainability reports. Further, a content analysis technique, with a coding scheme, was set up to interpret and analyse the information. To enable an easy overview of the findings, the relevant data is presented in tables and diagrams. Empirical Findings and Conclusion: The majority of the studied companies have increased their level of compliance in the environmental category. Although, the majority of the companies have increased their reporting, the compliance level differs between the companies. The most reported sectors are the; “Water”, “Biodiversity”, “Emissions”, “Effluents and Waste”, “Compliance”, and “Overall”. Further, the empirical findings show that there is an overall increase in the amount of disclosed information per indicator. The conclusion of this thesis is that the environmental disclosures have increased in the oil and gas industry from year 2012 to 2014.

The International <IR> Framework’s impact on the social and relationship disclosures in the healthcare industry

Abstract Background and Problem: The altering business world and the growing requests from stakeholders have resulted in the establishment of new reports. These are among others Sustainability reports and Integrated Reporting. On the contrary, traditional financial reports do not consider the significance of intangible assets in modern entities. The social and relationship capital has further shown to be important for firms, especially healthcare companies and pharmaceuticals, but is not as developed as other capitals within the <IR> framework and therefore not always included in annual reports. However too few disclosures within this area could lead to high liabilities. The IIRC launched the <IR> framework year 2013 as a solution, as it gives a more comprehensive view of the reporting entity. Within this framework there are six capitals: manufactured, human, financial, natural, intellectual and social and relationship.   Purpose: The purpose of this thesis is to find out how the International <IR> Framework has influenced the reporting of the social and relationship disclosures within the healthcare industry, to compare the reporting of the six medical firms chosen and to examine how the social concerns have been developed over time. Delimitations: This study is conducted over a period of three years, from year 2012 to year 2014. It only examines healthcare companies which use the International <IR> framework and it has solely focus on the social and relationship capital. All other capitals within the <IR> framework are excluded from the study. Method: This study has a qualitative research strategy and is based on information collected from published documents in form of annual reports. The annual reports from year 2010, 2011 and 2012 are used to find social and relationship disclosures and a disclosure scoreboard is used to find similarities, differences and patterns. Empirical Results and Conclusion: It has been found that the aggregated social and relationship disclosures have been reduced over time. The year followed by the release of the <IR> framework was seen to have the least disclosures and therefore conclusion was drawn that the <IR> framework had a negative influence on the social and relationship disclosures. There were also differences among the companies studied both in extent and content. The former could be linked to factors such as size and nationality and the latter could be linked to reputation preservation and legitimacy interests.

Integrated Reporting in OMXS30 companies - An Analysis of Human Capital Disclosures

Background and Problem: Sustainability reporting is a growing interest in today’s organizations and it is essential to report on non-financial matters. Many of the existing frameworks have been criticized for being used only of symbolical reasons which is why the concept of integrated reporting and the <IR> framework have been developed. One of the cornerstones in the <IR> framework is human capital which is one of the most valuable assets in an organization. Traditionally, employee costs have only been treated as an expense and there have been limited disclosures in corporate reports. In the current business world it is instead seen as an investment in human resources. Since previous studies have shown an increase of human capital disclosures when corporate reports become integrated, integrated reporting might be the solution to this problem. Purpose: The purpose of this study is to examine if there are differences in human capital disclosures between integrated reports and separate annual and sustainability reports in companies listed at OMXS30. Delimitations: This study’s empirical examination is limited to include the companies listed at Stockholm OMX30. Only corporate reports issued for the year 2014 are treated. Methodology: For this study a self-constructed disclosure scoreboard with human capital- related items has been used to collect data from the companies’ corporate reports. Also additional information beyond the pre-determined items has been collected to extend the data collection. Empirical Results and Conclusion: The results show that human capital seems to be a subject that is relatively little reported about. The integrated reporting companies do not disclose more information compared to non-integrated reporting companies. However, the results show that integrated reporting companies seem to have a more future-oriented focus and that the disclosures are more dispersed throughout the reports. It can be concluded that company sector and size do not affect the amount or type of information. 

Intellectual Capital Disclosures: The effect of mandatory Integrated Reporting

Purpose – The purpose of this thesis is to investigate how mandatory obligation to follow the International <IR> Framework while producing the corporate reports influence the intellectual capital disclosures in the reports. Research design – The study uses a disclosure scoreboard to score a selected sample of annual reports depending on whether it disclose intellectual capital information or not. The sample consists of companies listed in South Africa were it is mandatory to follow the integrated reporting framework and companies listen in Sweden where it is not mandatory to produce an integrated report. Empirical results and conclusion – The results of this thesis indicates that the mandatory use of the International <IR> Framework have an impact on the amount of intellectual capital disclosures. Further it concludes that higher level of compliance with the framework further increases the intellectual capital disclosure. Contribution – This study has been an early step towards concluding whether the use of integrated reporting has any effect on the amount of intellectual capital information disclosed in companies’ annual report.