Abstract
Sustainability reporting is increasingly becoming an integral part of business reports. It encompasses reporting on environmental-, social-, and employee-related matters, as well as reporting on human rights, anti-corruption, and bribery issues. Implementing the stated principles requires knowledge and poses a challenge for managers.
The primary aim of this paper is to identify and present the experience and degree of preparedness for sustainability reporting in companies in Croatia. In addition, we explore the role of information and communication technology in sustainability reporting and the possibilities for its improvement. Finally, we discuss the question of the use of mathematical methods for exploring the relationship between investment in sustainability and the level of profits that companies report. With this paper, we aim to provide insights and support to domestic companies in the process of adopting and implementing sustainability reporting.
The results of the empirical research conducted show that companies in Croatia have experience with sustainability reporting. However, often more adequate feedback on stakeholders’ satisfaction with their sustainability reports and further dialogue is needed. In addition, the results show that there is significant room for improvements regarding IT support’s role in sustainability reporting in all key segments. Based on the findings, we anticipate further development and adoption of sustainability reporting in the following directions: education, discussion about priority motives and stakeholders, and in the use of information and communication technology. Accordingly, every company can build a responsible approach for its processes and improve its results, creating not only economic but social and ecological advantages as well.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Anderson, S., & Cavanagh, J. (2000). Top 200: The rise of corporate global power, institute for policy studies. Accessed September 23, 2015, from http://www.ips-dc.org/top_200_the_rise_of_corporate_global_power
Baron, R. (2014). OECD: The evolution of corporate reporting for integrated performance, background paper for the 30th round table on sustainable development 25 June 2014. Paris: OECD Headquarters.
Chanthao, P., & Suriya, K. (2014). An analysis of the profit sustainability and social responsibility of companies listed in the food and beverage sector in the stock exchange of Thailand. The Empirical Econometrics and Quantitative Economics Letters, 3(1), 55–66.
Colsman, B. (2013). Nachhaltigkeitscontrolling, Strategien, Ziele, Umsetzung. Wiesbaden: Springer Gabler.
EUR-Lex. (2014). Directive 2014/95/EU of the European parliament and of the council. Accessed September 20, 2015, from http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32014L0095
EY. (2011). Six growing trends in corporate sustainability-Trend 3: Employees emerge as a key stakeholder group for sustainability programs and reporting. Accessed September 25, 2015, from http://www.ey.com/US/en/Services/Specialty-Services/Climate-Change-and-Sustainability-Services/Six-growing-trends-in-corporate-sustainability_Trend-3
EY. (2015). Institutional investor attitudes shifting as environmental and social risks impact investment decisions. Accessed September 25, 2015, from http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-institutional-investor-attitudes-shifting-as-environmental-and-social-risks-impact-investment-decisions
Friedman, M. (1970). The social responsibility of business is to increase its profits. The New York Times Magazine. Accessed September 21, 2015, from http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html
Gartner. (2013). Accessed September 26, 2015, from https://www.gartner.com/doc/reprints?id=1-2XYY9ZR&ct=160204
GRI. (2015). Benefits of reporting. Accessed September 22, 2015, from https://www.globalreporting.org/information/sustainability-reporting/Pages/reporting-benefits.aspx#sthash.9h6fx0hd.dpuf
Hahn, R., & Kühnen, M. (2013). Determinants of sustainability reporting: A review of results, trends, theory, and opportunities in an expanding field of research. Journal of Cleaner Production, 59, 5–21.
Hseuh, C. F. (2015). A bilevel programming model for corporate social responsibility collaboration in sustainable supply chain management. Transportation Research Part E, 73, 84–95. doi:10.1016/j.tre.2014.11.006.
Huo, Y. (2012). Supply chain network equilibrium model based on corporate social responsibility with multicriteria under the revenue-sharing contract. Advanced Materials Research, 452–453, 282–288.
Kohl, K. (2013). How sustainability strategy impacts your corporate brand and ranking as an employer of choice. Sustainable brands: The bridge to better brands. Accessed September 23, 2015, from http://www.sustainablebrands.com/news_and_views/articles/how-sustainability-strategy-impacts-your-corporate-brand-and-ranking
KPMG. (2011). KPMG international survey of corporate responsibility reporting 2011. Accessed September 23, 2015, from https://www.kpmg.com/PT/pt/IssuesAndInsights/Documents/corporate-responsibility2011.pdf
Kramer, M., Kania, J., & McBreen, M. (2006). Game changing CSR corporate social responsibility initiative Working Paper No. 18. Cambridge, MA: John F. Kennedy School of Government, Harvard University.
Osmanagić Bedenik, N., et al. (2010). Kontroling između profita i održivog razvoja. Zagreb: M.E.P.
Society for Human Resource Management (SHRM). (2011). 2011 employee benefits: Examining employee benefits amidst uncertainty. Accessed September 20, 2015, from https://www.shrm.org/Research/SurveyFindings/Articles/Documents/2011_Emp_Benefits_Report.pdf
Solar City Inside Energy. (2013). Consumer trends in sustainability: Insights to grow your market share and defend your brand. Accessed September 20, 2015., from https://www.solarcity.com/sites/default/files/reports/reports-consumer-trends-in-sustainability.pdf
Srikaew, P., & Suriya, K. (2014). Profit sustainability and social responsibility of companies listed in the media and publishing sector in the stock exchange of Thailand. The Empirical Econometrics and Quantitative Economics Letters, 3(1), 67–76.
Sudtasan, T., & Suriya, K. (2013). Sustainability of profit and corporate social responsibility: Mathematical modeling with phase diagram. The Empirical Econometrics and Quantitative Economics Letters, 2(4), 1–12.
Tsoulfas, G. T., & Pappis, C. P. (2012). Corporate social responsibility and reporting. In C. N. Madu & C.-H. Kuei (Eds), Handbook of sustainability management (pp. 39–64). Singapore: World Scientific Publishing Co. Accessed September 21, 2015, from https://books.google.hr/books?id=ta-FL1f0V48C&pg=PA39&source=gbs_toc_r&cad=4#v=onepage&q&f=false
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2017 Springer International Publishing AG
About this chapter
Cite this chapter
Osmanagić Bedenik, N., Strugar, I., Labaš, D., Kojić, V. (2017). Sustainability Reporting in Croatia: The Challenges of Sustainable Business. In: Horváth, P., Pütter, J. (eds) Sustainability Reporting in Central and Eastern European Companies. MIR Series in International Business. Springer, Cham. https://doi.org/10.1007/978-3-319-52578-5_13
Download citation
DOI: https://doi.org/10.1007/978-3-319-52578-5_13
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-52577-8
Online ISBN: 978-3-319-52578-5
eBook Packages: Business and ManagementBusiness and Management (R0)