Sustainability reporting in the Nordic real estate companies: empirical evidence from Finland
Abstract
The purpose of our study was to investigate the content of sustainability reporting issued by real estate sector. Content analysis was employed to identify the strengths and weaknesses of sustainability information provided by sample companies. The content analysis structure considered both quantity and quality of information simultaneously. Our results show an inconsistency in the form, extent and quality of sustainability reports. In addition, our findings recognise a lack of clear approach to embrace materiality, external assurance, and further engagement of stakeholders in the sample reports. It seems that most of the sample companies were engaged in issuing sustainability reports to fulfil the legislative requirement and avoiding financial or legal risks. Our study provides information on the current status of sustainability reporting to real estate professionals. In addition it contributes in decreasing the financial and legal risks, and increasing the corporate reputational capital, by revealing the common weaknesses prevalent in the sustainability reports.
Keyword : sustainability reporting, listed real estate companies, quantity and quality of sustainability information, content analysis, Global Reporting Initiative
How to Cite
Rashidfarokhi, A., Toivonen, S., & Viitanen, K. (2018). Sustainability reporting in the Nordic real estate companies: empirical evidence from Finland. International Journal of Strategic Property Management, 22(1), 51-63. https://doi.org/10.3846/ijspm.2018.321
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Guthrie, J., & Abeysekera, I. (2006). Content analysis of social, environmental reporting: what is new?. Journal of Human Resource Costing and Accounting, 10(2), 114-126. https://doi.org/10.1108/14013380610703120
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Higgins, C., & Coffey, B. (2016). Improving how sustainability reports drive change: a critical discourse analysis. Journal of Cleaner Production, 136, 18-29. https://doi.org/10.1016/j.jclepro.2016.01.101
Higgins, C., Milne, M., & van Gramberg, B. (2015). The uptake of sustainability reporting in Australia. Journal of Business Ethics, 129(2), 445-468. https://doi.org/10.1007/s10551–014–2171–2
Hockerts, K. (2015). A cognitive perspective on the business case for corporate sustainability. Business Strategy Environment, 24(2), 102-122. https://doi.org/10.1002/bse.1813
Hooks, J., & Van Staden, C. J. (2007). The corporatization and commercialization of local body entities: a study of financial performance. ABACUS, 43, 217-240. https://doi.org/10.1111/j.1467–6281.2007.00226.x
Hsieh, H. F., & Shannon, S. E. (2005). Three approaches to qualitative content analysis. Quality Health Research, 15(9), 1277- 1288. https://doi.org/10.1177/1049732305276687
Idowu, S. O., & Towler, B. A. (2004). A comparative study of the contents of corporate social responsibility reports of UK companies. Management of Environmental Quality: An International Journal, 15, 420-437. https://doi.org/10.1108/14777830410540153
Ioannou, I., & Serafeim, G. (2011). The consequences of mandatory corporate sustainability reporting. Harvard Business School Working Paper No. 11–100, Boston, MA: Harvard University.
Jones, P., Comfort, D., & Hillier, D. (2006). Corporate social responsibility and the UK construction industry. Journal of Corporate Real Estate, 8(3), 134-150. https://doi.org/10.1108/14630010610711757
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