Directive 2014/95, in force since 2017, is the first European step that requires undertakings to provide mandatory non-financial information. The regulation concerns sustainability information, such as environmental, social, and employee information, human rights, and anti-corruption and bribery matters, and the disclosure of diversity policies for board members. According to the theoretical framework of Integrated Assessment (IA), the study aims to examine the expected impact of the Directive within the analysis of empirical evidence before the mandatory approach. This allows, on the regulatory side, evaluation of the quality of the regulation, therefore, whether the law achieves its policy objectives (i.e., if it fills the gap in the sustainability disclosure) and, on the firms’ side, to identify where companies have to invest to meet the legal requirements. The oil and gas sector is chosen as a sample for the study, because it is one of the most advanced sectors in sustainability disclosure, and if the regulation could impact on this sector, it would be the same for less-informed ones. The findings reveal a fair level of completeness of non-financial information, however, there are some areas that have to be improved to achieve the requirements of the Directive. The results also show the presence of overlap between financial and sustainability reports. In conclusion, the quality of regulation is good because it will also increase sustainability disclosure in an advanced sector, such as oil and gas, even if there is an open point on the location of information; companies in this sector will have to invest more in environmental and employee information in future years to comply with the Directive.

Shifting from a linear to a circular economy (CE) is a path promoted from different national and supranational organizations from many years but how that circularity is put in place by businesses from an empirical perspective is still a research gap in the literature. There is the need to stress the study of empirical cases to better understand what are the success factors, the sustainable challenges and the way forward to achieve the goal of a CE. This paper aims to investigate how the circular economy is spreading at the empirical level and with what evolution and opportunities. The framework of the diffusion theory is used to analyse how the CE, as a business model innovation, is widespread. The Italian scenario is taken as background, and 62 good practices of CE are analysed. The results promote a discussion on the attributes of CE, policy implications and future studies to booster the circular changing in society.

The role of public-sector organizations (PSOs) in promoting the agenda of sustainability accounting and accountability is not often adequately considered. In the public sector realm, local governments are close to their communities and thus have a particularly important role to play in the pursuit of sustainability goals. Hence, further research is needed to understand if Local Government Organizations (LGOs) are using reporting tools to promote sustainable development. The empirical data showed that the Sustainability Report (SR) is not being as widely used as in past years. Over time, the majority of Italian municipalities have not initiated or continued sustainability reporting due to some barriers including cost reduction, voluntariness, and low SR effectiveness. The findings suggest the popularity of SRs in Italy is falling and the SR tool appears to be “mere trend reporting based on descriptive indicators leading to decreasing interest from internal and external audiences”. The carrot has been unsuccessful. Perhaps the implementation of mandatory requirements could alternatively be used as a stick.

The conventional view tends to consider the social dimension of the circular economy as conspicuous by its absence. This paper draws attention to business strategies and organisational practices that bring together the valorisation of wasted material resources and marginalised people. Theoretically, we build on the literature on hybrid forms of organisation and management typical of the social and solidarity economy (SSE)—for example, social cooperatives—to introduce a more realistic and dynamic model of social and solidarity circular economy (SSCE). Offering a definition of SSCE based on existing hybrid organisational practices rather than abstract ideals, we juxtapose the SSCE and the current corporate‐led CE approach across three key dimensions: strategic aims; organisational boundaries and governance mechanisms. To illustrate how this SSCE works, we focus on the case of CAUTO, an Italian network of circular social cooperatives based in Northern Italy. We identify three intertwined steps through which CAUTO developed an effective SSCE strategy: social circular innovation, networked actions and participatory scaling up. Taken together, our findings suggest a realistic pathway to business circularity that is inclusive, pragmatic and embedded in social practices.

Materiality is a key principle enabling organizations to determine what information to disclose, serving as both a filtering mechanism and a strategic tool shaped by institutional dynamics. Institutional logics, which inform and legitimize organizational practices, significantly influence accountability and reporting processes, including the application of materiality. Effective water management is essential for sustainable development, making the water industry a key sector for exploring materiality and stakeholder engagement within sustainability strategies. This study explores the integration of the materiality principle, stakeholder engagement, and related organizational practices into the sustainability strategies and reporting of the European water industry between 2020 and 2022. Through content analysis of sustainability reports from 26 European water utilities, the study identifies three primary stakeholder engagement approaches: one‐way communication, dialogic interaction, and multi‐directional dialog. The prevailing trend is a dialogic approach that has evolved over time, though concerns about its relevance and effectiveness remain. Additionally, the study examines disclosed material topics, noting a dominant focus on environmental concerns and health and safety, with economic and governance issues receiving comparatively less attention. It emphasizes the need to improve the materiality process by integrating insights from accounting research into organizational practices and underscores the importance of effective stakeholder engagement for fostering trust and collaboration, particularly in vital sectors like water management. The findings offer valuable perspectives for policymakers, emphasizing the need to design robust mechanisms that promote stakeholder engagement. While progress in this area in recent years is evident, as demonstrated by this research, it must quickly evolve into a fundamental component of effective water management to avoid the risk of becoming merely an organizational façade.