There is a growing interest in the contribution of organizations to the achievement of sustainable development goals worldwide, with the involvement of various actors, such as governments, regulators, private entities, public interest entities, financial institutions, and civil society. The alignment between environmental, social and governance (ESG) performance and sustainable development goals helps academics and practitioners in observing corporate contributions to sustainable growth, both at micro and macroeconomic levels. There are few studies that analyze the association between corporate ESG performance and the United Nations Sustainable Development Goals (UN SDGs), or the contribution of company ESG indicators to sustainability. Thus, the aim of this study is to analyze such relationships in a case study for which an original mapping is proposed. Data were collected from Refinitiv Eikon, for two companies (in the oil and gas and financial services sectors), located in Romania, for the financial year 2021. Interpretative analysis was applied to the proposed mapping of sustainability practices reflected through ESG indicators, in relation to 17 SDGs. Our qualitative research included the computation of a total score based on the impact of ESG performance in pursuing the SDGs. Our results show that in Romania, the largest oil and gas company disclosed more information on ESG indicators and obtained a score (40) higher than the analyzed bank. The highest contribution to the achievement of the SDGs is related to the social pillar, especially the workforce and community dimensions. The bank obtained a lower score (30), while the most significant contribution to meeting the SDGs is linked to the environmental pillar, specifically emissions. Thus, corporate ESG performance is mapped to the SDGs, for entities activating in either financial or non-financial industries, with different importance allocated to each of the three ESG pillars. This research is important for various stakeholders, such as governments, business, and civil society, depending on the role within the organization, either direct or indirect.

The relationship between non-financial reporting quality (NFRQ) and various company-level factors has been studied extensively, considering the mandatory requirements applicable under the Non-Financial Reporting Directive 2014/95/EU (NFRD) of the European Union. The purpose of this research is to systematize the results of previous published studies on the relationship between NFRQ and company size, financial performance, corporate governance, market performance, and sustainability performance, under a mandatory regime. Our study contributes to the literature by proposing a taxonomy of company-level factors grouped into five categories. We analyze the post-2017 period, focusing on the application of NFRD in the European Union. By applying systematic inclusion and exclusion criteria to a population of 618 articles from Scopus, we obtain a sample of fifteen articles that are subject to an in-depth analysis of correlation matrices. The systematic review resorts to the vote counting methodology to assess the existence and strength of relationships between the NFRQ and company-level factors, based on correlation coefficients. The summarized results indicate that company size, corporate governance, and sustainability performance are positive factors of NFRQ. Regarding corporate governance, we find that board independence, board size, foreign ownership, gender diversity, corporate governance quality, the existence of a sustainability committee, and sustainability-linked remuneration positively influence NFRQ. Our findings emphasize the need to explicitly consider the role of corporate governance and sustainability performance in improving NFRQ while transitioning to improved corporate sustainability reporting under the new Corporate Sustainability Reporting Directive 2022/2464 (CSRD). Our study has implications for academics who seek to engage in empirical research on various factors with positive or negative influence on sustainability reporting, throughout the transition from the NFRD to the CSRD. Policymakers may find our study useful in addressing specific areas of sustainability reporting that have a negative impact on corporate transparency, while practitioners may obtain valuable information on the challenges of transitioning to sustainability reporting and the implementation of mandatory assurance.

There is a growing interest in identifying the benefits that companies may have once they disclose financial and sustainability information in integrated reports. The aim of this study is to analyze the relationship between integrated thinking and reporting (ITR) and financial risk in nonfinancial companies worldwide. Data were collected mainly from the Refinitiv Eikon database for 7111 companies from 85 countries over the period 2017–2021. The focal industries are basic materials, consumer discretionary, consumer staples, energy, healthcare, industrials, real estate, technology, telecommunications, and utilities. Panel regression was used as a statistical procedure and random effects models are preferred. Hypotheses related to signaling theory are confirmed, as companies are interested in high-quality disclosures in integrated reports, reflecting a positive outlook and reduced financial risk. Our results show a negative relationship between ITR and the weighted average cost of capital, and a positive association between the main predictor and liquidity measured by the cash ratio. In addition, designing a compensation system linked to sustainability performance leads to a reduced cost of financing through debt and equity. Robustness tests were applied to the relationship between ITR and the weighted average cost of capital; the results show that stricter board oversight and holistic stakeholder management can decrease the average cost of capital and the financial risk for the company. This research is important for stakeholders looking to improve their knowledge about integrated reports and for practitioners seeking to enhance the quality of integrated reports and reduce the financial risk of companies.

The alignment between environmental, social and governance (ESG) performance and country’s competitiveness helps academics and practitioners in observing corporate contributions to sustainable growth, leveraging corporate environments focused on ESG aspects that have a macroeconomic impact, but a limited number of studies analyzes this link. Thus, the aim of this study is to propose a case study for which an original mapping is proposed. Data were collected from Refinitiv Eikon, for two companies (in the oil and gas and financial services sectors), located in Romania, for the financial year 2021, and from the Global Competitiveness Report published by the World Economic Forum in 2019, as it is the latest full report available. Interpretative analysis was applied to the proposed mapping of sustainability practices reflected through ESG indicators, in relation to various relevant components of six pillars from the global competitiveness index. Our qualitative research included the computation of a total score based on the impact of ESG performance in pursuing the country’s competitiveness. Our results show that in Romania, the largest oil and gas company disclosed quantitative and qualitative information on ESG indicators and obtained a score (25) which is equal to the one obtained by the analyzed bank, the largest in Romania. The highest contribution to reaching the country’s competitiveness is related to the social pillar, especially the workforce dimension, for both organizations. Thus, corporate ESG performance is mapped to six pillars out of 12 regarding country competitiveness, for entities activating in either financial or non-financial industries, with different weight allocated to each of the three ESG pillars. This research is important for various stakeholders, such as governments, business, and civil society, depending on the role within the organization, either direct or indirect.