The relation between the GRI indicators and the financial performance of firms Online publication date: Sun, 29-Jun-2008
by Olaf Weber, Thomas Koellner, Dominique Habegger, Henrik Steffensen, Peter Ohnemus
Progress in Industrial Ecology, An International Journal (PIE), Vol. 5, No. 3, 2008
Abstract: Sustainable investments have become increasingly common in recent years. By reporting their environmental, social and sustainability performance, companies want to present themselves as good corporate citizens and thus, attract investors. However, do sustainability reports really show a fair picture of firms' sustainability work and its outcomes for both sustainable development and financial success? In this study, a sample of 100 companies was analysed using the framework of the Global Reporting Initiative (GRI), with respect to (1) the relation between their environmental, social and sustainability activities and their impact on the environment, the social system and sustainable development and (2) the relation between their nonfinancial performance (environmental, social, sustainability) and their financial performance. The results revealed a positive correlation between the sustainability activities, the impact on sustainable development and the financial performance of the companies.
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