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Sustainability Reporting in Croatia: The Challenges of Sustainable Business

  • Nidžara Osmanagić BedenikEmail author
  • Ivan Strugar
  • Davor Labaš
  • Vedran Kojić
Chapter
Part of the MIR Series in International Business book series (MIRSIB)

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.

Keywords

Corporate Social Responsibility Sustainable Development Corporate Governance Global Reporting Initiative Foreign Ownership 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  • Nidžara Osmanagić Bedenik
    • 1
    Email author
  • Ivan Strugar
    • 2
  • Davor Labaš
    • 2
  • Vedran Kojić
    • 2
  1. 1.Department of Managerial EconomicsUniversity of ZagrebZagrebCroatia
  2. 2.Faculty of Economics and BusinessUniversity of ZagrebZagrebCroatia

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