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1

Environmental disclosures according to ESRS in ESG reporting of selected banks in Poland

Broniewicz Elżbieta, Jastrzębska Ewa, Lulewicz-Sas Agata

Economics and Environment

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2024

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no. 1

art. no. 719

EN

The aim of this article is to analyze the environmental disclosures of non-financial information presented in the selected Polish banks in terms of meeting the European Sustainability Reporting Standards (ESRS) guidelines. The ESRS reporting standards, adopted by the European Commission in July 2023, not only introduced an increase in the scope of reporting but also clearly defined the information to be disclosed in reports that banks are obligated to submit. The research method used was a critical analysis of the subject-matter literature, and, in the empirical part, a method of analyzing information posted on bank websites was assumed. Among the analyzed entities, 23 banks operating in Poland, functioning in the form of joint-stock companies, were taken into consideration. Research has shown that the required data is contained in various documents published by banks, and their availability on websites is relatively low. The scope of environmental disclosures was assessed as insufficient in relation to the ESRS guidelines. The highest number of disclosures occurred in the “Climate” area and the lowest in the “Biodiversity and Ecosystems” area, which may stem from the specificity of the banks' activities. The conducted research revealed that banks were inadequately prepared for reporting that takes into account ESRS guidelines.

PL

Celem artykułu jest analiza środowiskowych ujawnień informacji niefinansowych prezentowanych w wybranych polskich bankach pod kątem spełniania wytycznych European Sustainability Reporting Standards (ESRS). Przyjęte w lipcu 2023 roku przez Komisję Europejską standardy sprawozdawczości ESRS wprowadziły nie tylko zwiększenie zakresu raportowania, ale też jasno określiły informacje przeznaczone do ujawniania w raportach, które będą musiały być składane przez banki. Jako metodę badawczą przyjęto krytyczną analizę literatury przedmiotu, a w części empirycznej metodę analizy informacji zamieszczonych na stronach internetowych banków. Przeanalizowano 23 banki działające na terenie Polski, funkcjonujące w formie spółek akcyjnych. Badania wykazały, że wymagane dane znajdują się w różnych dokumentach publikowanych przez banki, a ich dostępność na stronach internetowych jest dość niska. Zakres środowiskowych ujawnień oceniono jako niewystarczający w stosunku do wytycznych ESRS. Największa liczba ujawnień występuje w obszarze Climate, zaś najmniejsza w obszarze dotyczącym Biodiversity and ecosystems, co wynikać może ze specyfiki działalności banków. Przeprowadzone badania unaoczniły słabe przygotowanie banków do raportowania z uwzględnieniem ESRS.

2

Reporting sustainable development in Polish commercial banks

Matuszak-Flejszman Alina, Łukaszewski Sebastian, Budna Klaudia

Engineering Management in Production and Services

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2023

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Vol. 15, no. 3

42--52

EN

The article aims to present sustainable development reporting based on data obtained from Polish commercial banks, considering different approaches and scopes of presenting non-financial data, even though specific guidelines have been issued. The research procedure included a literature review of Polish and foreign literature and research using the case study method. The article presents examples of environmental, social and governance (ESG) activities reported by selected commercial banks in Poland in a case study. ESG activities are reported separately and presented as part of annual reports. Many of the banks’ activities presented in the survey can serve as a model for others, as not all banks have a clearly written ESG strategy. A positive effect of reporting ESG activities is the clarification of indicators, such as reducing greenhouse gas emissions, eliminating exposure to the extractive sector or increasing “green” financing. This article can contribute to showing role models for banks in three areas, i.e., environmental, social and corporate governance. As a result, the authors tried to propose solutions where sector organisations could compare themselves in nonfinancial areas.

3

The reporting of climate-related information by CSR leaders in Poland: a climate-related disclosures index

Jastrzębska Ewa

Ekonomia i Środowisko

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2023

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nr 1

96--115

EN

The article measures the scope of reporting climate-related information by companies considered CSR leaders in Poland. An original tool is employed for that purpose: a climate-related disclosures index. First, a critical comparative analysis was performed of climate-related disclosure initiatives (regulations, guidelines, standards) to pinpoint the key and commonly required disclosures. Next, an original index of climate-related disclosures was designed. It helped compute index values for 20 companies perceived as Poland’s CSR leaders. Non-financial reports available in the public domain were analysed for that purpose. The study showed that virtually all climate-related disclosure initiatives implement, to a greater or lesser extent, the TCFD recommendations, which were also embedded in the developed index covering 18 indicators. The total index value (ranging from 0 to 1) for the analysed companies was 0.51, with a median of 0.42. The index demonstrates that companies named CSR leaders in Poland do not display high awareness of climate change.

PL

Celem artykułu jest ocena zakresu raportowania informacji związanych z klimatem przez przedsiębiorstwa uznawane za liderów CSR w Polsce, dokonana za pomocą autorskiego indeksu ujawnień klimatycznych. Najpierw przeprowadzono krytyczną analizę porównawczą treści inicjatyw ujawnień klimatycznych (regulacji, wytycznych i standardów) w celu zidentyfikowania kluczowych i najczęściej wymaganych ujawnień klimatycznych. Na tej podstawie zbudowano autorski indeks ujawnień klimatycznych, w oparciu o który policzono indeks dla 20 firm uznawanych za liderów CSR w Polsce (w oparciu o analizę treści publicznie dostępnych w Internecie raportów niefinansowych firm). Badania pozwoliły stwierdzić, że praktycznie wszystkie inicjatywy ujawnień klimatycznych w większym bądź mniejszym stopniu implementują wytyczne TCFD, które stały się podstawą autorskiego indeksu ujawnień klimatycznych, obejmującego 18 wskaźników. Całkowita wartość indeksu (przyjmującego wartości od 0 do 1) dla analizowanych firm wyniosła 0.51 przy medianie równej 0.42. Indeks pokazuje, że firmy zaliczane do liderów CSR w Polsce nie charakteryzują się wysoką świadomością w zakresie zmian klimatu.

4

ESG reporting framework in Poland – the current state of affairs and perspectives

Tylec Agnieszka

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2022

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z. 157

609--622

EN

Purpose: The purpose of the article is to systematise and present – against a background of the essence of ESG accounting – the applicable and proposed legal framework for non-financial reporting in Poland. Design/methodology/approach: The article uses qualitative research methods: the method of studying literature and legal acts, the method of analysis and synthesis, as well as the descriptive method and deductive inference. Findings: The results of the literature studies make it possible to conclude that the topic of ESG reporting is not new, but it is gaining importance, and this process will most probably continue. The growing demand and pressure for companies to be more environmentally and socially responsible are accompanied by the efforts that they make to present the best possible information in this area. To some extent, these activities are voluntary, but they are increasingly enforced by legal regulations. Non-financial information is gaining importance for various stakeholder groups, who are increasingly aware and sensitive to environmental, social and corporate governance issues. It, therefore, seems obvious that the disclosure of ESG information – in part voluntary and influencing marketing – is becoming increasingly regulated and necessary. This is evidenced by further EU regulations and their transposition into domestic legislation. Analysis of the regulations already in force and the draft CSRD Directive cited in the article clearly indicates that the European Commission has been increasing the obligations related to ESG reporting in recent years, and they will be further increased in the future. Originality/value: The value of the article is the analysis, synthesis and systematics of issues related to the essence and framework of non-financial reporting (sustainable development) in Poland, including issues related to the currently applicable and proposed European Union legislation.

5

Non-financial reporting regarding natural environment in public companies in the energy, fuel and gas sector in 2019

Dembowska Katarzyna

Ekonomia i Środowisko

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2021

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nr 3

122--134

EN

The article's objective is a presentation of the non-financial reporting practice in the scope of issues regarding the natural environment in public companies based on the example of the energy, fuel and gas sectors. The study covers WIG20, WIG30 and mWIG40 companies listed on the Warsaw Stock Exchange in 2019. The research method applied in the article is based on a case study. The article starts with the theoretical part regarding the disclosure of non-financial information. The sec-ond part presents non-financial reporting with special consideration given to the natural environment, based on public companies operating in the energy, fuel and gas sector.

PL

Celem artykułu jest przedstawienie praktyki dotyczącej raportowania niefinansowego w zakresie zagadnień dotyczących środowiska naturalnego w spółkach giełdowych na przykładzie sektora energii oraz paliw i gazów. Badaniem zostały objęte spółki z indeksów WIG20, WIG30 i mWIG40 na Giełdzie Papierów Wartościowych w Warszawie w 2019 roku. W artykule przeprowadzono badanie metodą case study. W pierwszej części artykułu zostanie zaprezentowana część teoretyczna dotycząca raportowania niefinansowego. Druga część artykułu przedstawia raportowanie niefinansowe ze szczególnym uwzględnieniem środowiska naturalnego na przykładzie spółek giełdowych z sektora energii oraz paliw i gazów.

6

Non-financial reporting in Poland – standards and first experience of companies related to the implementation of directive 2014/95/EU

Tylec Agnieszka

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2020

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z. 144

573--582

EN

Purpose: The aim of the paper is the presentation of the essence of non-financial reporting, the transposition of the Directive into Polish law and, as a result, the extension of mandatory disclosure (including reporting standards). Design/methodology/approach: The article is based on an analysis of literature with the use of analysis method (including the analysis of subject literature, legal acts, reports and studies prepared by various institutions published on the Internet), the descriptive method and graphical data presentation method. Findings: The structure of the study includes the presentation of: the essence of the problem, the scope of mandatory disclosure, standards that may govern its preparation and the initial conclusions resulting from the analyses of reports of companies obliged to report non-financial data. The justification of the need to prepare non-financial reports is provided as the mitigation of information asymmetry that occurs among different stakeholder groups. Non-financial reporting is perceived as a chance to increase knowledge on chances and risks and to analyse and organize the company’s activities. Those types of reports allow to dialogue with stakeholders, build trust and eventually win the competitive advantage. Non-financial reports also form a knowledge database for managers, the use of which increase the effectiveness of management. Originality/value: The analysis, synthesis and systematics of the presented issues (such as the essence, scope and standards of mandatory non-financial reporting) are the value of this article. Its results contribute to further analysis and the result of the analysis should be creation of recommendations for entrepreneurs regarding the choice of non-financial reporting standards, its form and scope.

7

Raportowanie społeczne - charakterystyka wybranych wskaźników według wytycznych Globalnej Inicjatywy Sprawozdawczej

Galwas-Grzeszkiewicz Magdalena

Bezpieczeństwo Pracy : nauka i praktyka

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2020

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nr 3

12-15

PL

Wdrażanie zasad społecznej odpowiedzialności biznesu CSR (Corporate Social Responsibility) staje się nieodzownym elementem działalności organizacji. Wraz ze wzrostem znaczenia koncepcji społecznej odpowiedzialności coraz istotniejsze staje się czytelne i porównywalne raportowanie niefinansowe. Artykuł ma za zadanie przedstawić wytyczne Globalnej Inicjatywy Sprawozdawczej (Global Reporting Initiative, GRI), włączając w to opublikowane w 2018 r. wytyczne i wskaźniki dotyczące raportowania społecznego w zakresie bezpieczeństwa i zdrowia w pracy w ramach GRI 403.

EN

The implementation of the principles of corporate social responsibility of CSR) becomes an in dispensable element of the organization's activities. With the growing importance of the social responsibility concept, clear and comparable non-financial reporting becomes more and more important. The following article presents selected guidelines for the Global Reporting Initiative (GRI), including the guidelines and indicators for social reporting on occupational safety and health published in 2018 as a part of GRI 403.

8

Ślad węglowy organizacji i produktu jako element modelu biznesowego

Kulig Bartosz

Bezpieczeństwo Pracy i Ochrona Środowiska w Górnictwie

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2020

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nr 3

7--12

PL

W artykule przedstawiono zagadnienia związane ze zmianami klimatu w odniesieniu do prowadzonej polityki, oczekiwań rynku i konsekwencji, jakie niosą one dla biznesu. Wyjaśniono, jak analizowanie śladu węglowego organizacji i produktu w całym łańcuchu wartości pomaga w redefiniowaniu dotychczasowych modeli biznesowych w celu poszukiwania przewagi konkurencyjnej. Przedstawiono praktyki liderów globalnych rynków i nastawienie polskich przedsiębiorstw do zagadnień klimatycznych. Omówiono ponadto wytyczne KE dotyczące raportowania niefinansowego w odniesieniu do klimatu, a także dobrowolne inicjatywy liderów rynku wykraczające daleko poza wymagania prawne.

EN

Setting and communicating ambitious goals – even challenges, reporting effects achieved as well as sharing ideas drive pro-climate activity on a global scale. Sooner or later we will have to join and take action on climate change, too. Without specific actions in business strategies and models, it may be impossible to take advantage of the opportunities that have arisen. The European Commission’s guidelines for reporting on non-financial information in relation to the climate not only encourage, but also help in practical way to prepare for a change in the way of thinking about the business. We should be aware that it is a derivative of actions taken by market leaders who set global trends. On the occasion of transformation, they not only strengthen their positive image, promote corporate social responsibility, but also achieve economic success. The newly defined business models that they are gradually implementing, assume a continuous improvement to reduce greenhouse gas emissions, a significant increase in the use of renewable energy and further improvement of energy efficiency throughout the entire value chain. The savings, which are already valued in billions of euros, should be an inspiration for those who still with uncertainty and lack of conviction approach better understanding of their impact on the climate, not to mention disclosing this information to the market. It is up to the managers to decide whether they want to stand in line with the best or just watch how they strengthen their market position.

9

Development of corporate social responsibility in Visegrad group countries

Hąbek Patrycja

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2019

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z. 138

71--82

EN

The concept of corporate social responsibility (CSR) in Visegrad Group countries (V4) is not very well developed yet, but is gradually transforming and becoming an important topic in the region. The study findings indicate that also CSR reporting practices are not widespread among companies in V4 countries. Initiatives undertaken by the governments of V4 countries basically are related with sharing of information and knowledge and the development of reporting guides. The paper presents an overview of the development of the concept of CSR in Visegrad 4 countries concentrating especially on disclosing the information on CSR performance in the region. The situation of CSR reporting practices in each of the V4 countries is outlined based on the conducted literature analysis.

10

Sustainable development reporting of selected socially responsible listed companies

Czaja-Cieszyńska Hanna, Kochański Konrad

Zeszyty Naukowe Akademii Morskiej w Szczecinie

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2019

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nr 60 (132)

93--100

EN

The RESPECT Index (RI) is the first index of socially responsible companies in Central and Eastern Europe and has been operating in Poland since 2009. In accordance with its philosophy, the RI includes listed companies showing the highest standards of quality in corporate governance and information governance regarding their impacts on the natural environment, society, and employees. Do the non-financial reports of these companies confirm that they meet these standards? This article attempts to answer that question, which aim can also be described as the qualitative assessment of the non-financial reports of the largest listed Polish companies in the RESPECT Index, with particular emphasis on analyzing the structure and content of the companies’ non-financial information disclosures. In order to achieve this goal, the paper first defines non-financial information and its usefulness to stakeholders in modern enterprises. Secondly, the paper discusses problematic aspects of non-financial reporting. And the third part of the paper is a qualitative analysis of the non-financial reports of 12 out of the 31 Polish companies in the RESPECT Index. Finally conclusions are that the research conducted confirmed a wide variety of these companies’ disclosures, and on the other hand, exposed some deficiencies in published reports, including their narrative character, limited comparability across time and space, and lack of external verification. All this shows that it is not enough to be a socially responsible company; you must also report this activity skillfully. This study used the following research methods: literature review, analysis of legal regulations, desk research, and inductive and synthetic reasoning strategies, in order to formulate conclusions.

11

Wybrane aspekty raportowania niefinansowej działalności przedsiębiorstwa

Podobińska-Staniec M.

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2018

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z. 131

441--452

PL

Cel. Praca ma na celu wskazanie relacji pomiędzy raportowaniem niefinansowej działalności przedsiębiorstwa w ujęciu społecznej odpowiedzialności przedsiębiorstw (CSR) oraz wartości kapitału intelektualnego. Zaprezentowane w artykule zestawienie wartości rynkowej, księgowej, efektywności wykorzystania kapitału intelektualnego oraz informacji o występowaniu raportowania CSR miały na celu poszukiwanie powiązań pomiędzy tymi czynnikami w odpowiedzi na pytanie jak zwiększyć wartość przedsiębiorstwa? Metodologia. W artykule zaprezentowano wartości księgową i rynkową dla wybranych spółek oraz poprzez zastosowanie metody VAIC (Value Added Intangible Assets) wskazano także tendencję efektywności wykorzystania kapitału intelektualnego. Badania zostały przeprowadzone dla trzech wybranych spółek z sektora wydobywczego notowanych na GPW w Warszawie, opierając się na latach 2009-2016. Dodatkowo wskazano rok od którego wybrane przedsiębiorstwa sporządzają raporty społecznej odpowiedzialności biznesu. Takie zestawienie pozwoliło autorce wyciągnąć wnioski dotyczące raportowania niefinansowego w aspekcie kapitału intelektualnego oraz CSR. Wnioski. Przeprowadzone badania nie wykazały korelacji pomiędzy raportowaniem CSR a wzrostem wartości rynkowej spółek oraz wzrostem wskaźnika VAIC jednakże można wysunąć pewne wnioski mające na celu rozwój raportowania niefinansowego poprzez zbudowanie relacji pomiędzy tym co już zawarte w sprawozdaniach a tym co może uzupełnić tę niefinansową informację w celu wzrostu świadomości interesariuszy a tym samym wzrostu wartości rynkowej przedsiębiorstw.

EN

Purpose. The purpose of this article is to indicate the relationship between the reporting about non-financial activities of companies in terms of corporate social responsibility (CSR) and the value of intellectual capital. This article contains information about market value, book value, intellectual capital efficiency and the information on the presence of CSR reporting. This presentation aims to search for the links between these factors in response to the question: how to increase the value of a company? Methodology. In this paper, the author presents the book and market values for selected companies. The author also indicates the intellectual capital efficiency with the use of the VAIC (Value Added Intellectual Coefficient) method. The research was conducted for three selected companies from the mining sector, listed on the Warsaw Stock Exchange, for the period between 2009 and 2016. In addition, a particular year was indicated as of which the selected enterprises have been preparing their corporate social responsibility reports. This analysis allowed the author to draw conclusions about non-financial reporting in the aspect of intellectual capital and CSR. Findings. The conducted research did not show any correlation between the CSR reporting, the increase of the market value of companies and the growth of VAIC. However, it was possible to draw some conclusions with respect to the development of non-financial reporting by building a relationship between what is already included in the statements and what can supplement this non-financial information. Such actions may increase the awareness of stakeholders and thus boost the market value of enterprises.

12

CSR jako obszar raportowania niefinansowego w świetle rozszerzenia zakresu ujawnień

Tylec A.

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2018

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z. 127

299--310

EN

The article concerns the issue of extending the scope of non-financial reporting since 2017. New reporting obligations are related to the implementation of the Directive of the European Parliament and of the Council 2014/95 / EU into Polish law and business practice, resulting in an extension of the scope of disclosed non-financial information (for public trust units), including in particular reporting on corporate social responsibility business - CSR. The article was based on the indicated Directive and the amendment to the Act on Accounting published in 2017, as well as on the literature of the subject and reports published in the Internet regarding the issues of non-financial reporting and corporate social responsibility.

PL

W artykule podjęto problematykę rozszerzenia od 2017 roku zakresu raportowania niefinansowego. Nowe obowiązki sprawozdawcze związane są z implementacją na grunt polskiego prawa i praktyki gospodarczej Dyrektywy Parlamentu Europejskiego i Rady 2014/95/UE, skutkującą rozszerzeniem zakresu ujawnianych informacji niefinansowych (dla jednostek zaufania publicznego), w tym w szczególności składających się na sprawozdawczość w zakresie społecznej odpowiedzialności biznesu. Artykuł oparto przede wszystkim na wskazanej Dyrektywie oraz opublikowanej w 2017 roku nowelizacji Ustawy o rachunkowości, a także na literaturze przedmiotu i publikowanych w Internecie raportach dotyczących kwestii raportowania niefinansowego i społecznej odpowiedzialności biznesu.

13

Comparative analysis of CSR reporting practices in Poland and Slovakia

Hąbek P., Sujová E., Čierna H.

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2018

|

z. 116

51--66

EN

Companies are more often publishing publicly available reports to disclose how responsibly they conduct their business. The aim of the research presented in the paper is to compare corporate social responsibility reporting patterns in Poland and in Slovakia, especially the level of CSR reporting as well as the types of these reports. Moreover the authors analyzed development of the CSR concept in both countries. In the study the authors analyzed CSR reports published in 2015. The research included 34 reports from Poland and 18 reports from Slovakia. The results of the study show that more companies in Poland prepare CSR reports than in Slovakia. Additionally, in Poland the development of the CSR concept is progressing faster and is more comprehensive. However, further education, raising of awareness and development of specific instruments that support practice of CSR reporting is still necessary in both analyzed countries.