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Connecting the COVID-19 pandemic, environmental, social and governance (ESG) investing and calls for ‘harmonisation’ of sustainability reporting

Adams, C.A.; Abhayawansa, S.

Connecting the COVID-19 pandemic, environmental, social and governance (ESG) investing and calls for ‘harmonisation’ of sustainability reporting Thumbnail


Authors

S. Abhayawansa



Abstract

We critically examine the call for ‘harmonisation’ of sustainability reporting frameworks and standards that occurred alongside an increase in environmental, social and governance (ESG) investing during the COVID-19 pandemic. We identify three myths that have been promulgated in calls for ‘harmonisation’ that seek to: simplify sustainability reporting and ESG analysis and shift the control for standard-setting to an investor-oriented private sector body. We argue that the myths are based on deception, misunderstandings, and disregard for both academic research and the views of sustainability practitioners. They demonstrate a lack of regard for different users of corporate sustainability information, a lack of analysis of the alternatives, an overestimation of the International Financial Reporting Standards (IFRS) Foundation’s expertise and mischaracterisation of sustainable/ESG financing.

Citation

Adams, C., & Abhayawansa, S. (2022). Connecting the COVID-19 pandemic, environmental, social and governance (ESG) investing and calls for ‘harmonisation’ of sustainability reporting. Critical Perspectives On Accounting, 82, Article 102309. https://doi.org/10.1016/j.cpa.2021.102309

Journal Article Type Article
Acceptance Date Mar 17, 2021
Online Publication Date Mar 23, 2021
Publication Date 2022-01
Deposit Date Mar 18, 2021
Publicly Available Date Sep 23, 2022
Journal Critical Perspectives On Accounting
Print ISSN 1045-2354
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 82
Article Number 102309
DOI https://doi.org/10.1016/j.cpa.2021.102309
Public URL https://durham-repository.worktribe.com/output/1245295

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