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- Title
Sustainability report as a non-financial disclosure tool for B-Corps: analysis of the Italian fashion industry.
- Authors
Ferioli, Matteo
- Abstract
Corporate social responsibility (CSR) implies the need for companies to communicate the socially responsible activities to stakeholders. The paper aims to investigate whether the Italian fashion certified B-Corps undertake non-financial disclosure activities comparable to large listed companies, which often have more resources and capital to invest. In particular, the analysis focuses on the sustainability reports and websites as they are among the leading non-financial disclosure tools. The paper aims to provide a deeper understanding of B-Corps, an innovative topic still little discussed in the literature. The results shows that certified B-Corps are more active via the web than listed companies. Although the law and B Lab impose different disclosure requirements, they are not observed by all companies analyzed as some do not make the sustainability report publicly available on their website. Furthermore, the size and the economic resources available influence the disclosure activities and the ability to adopt more complex and comprehensive reporting frameworks; in fact, listed companies publish a more comprehensive report drafted using the GRI Standards. The GRI framework is the most used to draft the sustainability report, and most companies prefer to publish it as a separate document from the financial one. The results also show a discrepancy to what was declared by the Consob as a higher percentage of listed companies make the report publicly available. The paper highlights some managerial implications. Certified B-Corps should publish more sustainability reports on their websites to fulfill the requirements imposed by B Lab and the law. Instead, listed companies should publish more sustainability information on their websites because it is among the leading source of information for stakeholders to know how they contribute to society's well-being
- Subjects
SUSTAINABLE development reporting; BENEFIT corporations (Business structure); CLOTHING industry; SOCIAL responsibility of business; DISCLOSURE laws
- Publication
Economia Aziendale Online, 2022, Vol 13, Issue 3, p459
- ISSN
2038-5498
- Publication type
Article
- DOI
10.13132/2038-5498/13.3.459-478