Information on environmental protection and annual reports of oil companies

Adam Lulek ()
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Adam Lulek: University of Szczecin

Ekonomia i Prawo, 2019, vol. 18, issue 4, 475-486

Abstract: Motivation: The stakeholders of annual reports want to obtain as much information of sufficient quality as possible in order to take appro-priate decisions. These reports include information on a company structure and should reflect its true image. They also contain environmental infor-mation concerning the way a company affects, develops and manages the natural environment. This information is of great importance in oil com-panies which operational activity is connected with significant environ-mental risk. Therefore, they should thoroughly inform stakeholders of their impact on the environment. In practice, however, environmental infor-mation is presented differently. The thesis can be formulated that data pre-sented in financial statements does not satisfy all information needs of stakeholders. Aim: The purpose of the article is to prove that: (1) infor-mation on the natural environment published in the reports of oil compa-nies is of great significance to stakeholders, (2) the amount and quality of environmental information included in the annual reports of oil companies are insufficient for stakeholders, (3) annual reports of oil companies differ considerably in terms of their informative content. Results: Defining the disadvantages of current financial statements regarding ecological infor-mation and assessment of the presentation of environmental information in the annual reports of selected oil companies.

Keywords: information; ecological information; financial statements; oil companies (search for similar items in EconPapers)
JEL-codes: Q01 Q41 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
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