Evaluation of sustainability reporting of the food industry in Hungary from an EU taxonomy perspective

Ibolya Lámfalusi, Judit Hámori, Andrea Rózsa, Judit Hegyi, Károly Kacz (), Anita Miklósné Varga, Szabolcs Troján and Nóra Gombkötő
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Ibolya Lámfalusi: Institute of Agricultural Economics
Judit Hámori: Institute of Agricultural Economics
Andrea Rózsa: Institute of Agricultural Economics
Judit Hegyi: Széchenyi István University
Károly Kacz: Széchenyi István University
Anita Miklósné Varga: Széchenyi István University
Szabolcs Troján: Széchenyi István University
Nóra Gombkötő: Széchenyi István University

Quality & Quantity: International Journal of Methodology, 2024, vol. 58, issue 5, No 21, 4479-4504

Abstract: Abstract Compliance with green requirements is becoming increasingly important in assessing the performance of companies. The new CSRD legislation requires a wider range of companies to produce sustainability reports and their content is influenced by the EU's taxonomy regulation setting out the framework for sustainable finance. The disclosure of information affects the perception of companies' sustainability performance, which will affect their access to financial resources and development opportunities. The main question is, both in theory and in practice, how companies can comply with the legislation in the future. It is essential for the competitiveness of Hungary's food industry to keep pace with future environmental sustainability requirements, so we examined the sustainability reporting practices of the sector's key companies in terms of their contribution to the environmental objectives set out in the taxonomy regulation. The research fits well with the EU's overall green transition regulatory procedure and our study is gap-filling at macro-regional and sectoral levels. The sustainability reports were assessed by content analysis using a scoring method. The results show that the sustainability reporting practices of food processing companies in Hungary differ significantly. Furthermore, greater emphasis must be placed on reporting and the credibility of the reports to meet future expectations. Foreign-owned companies and companies with more than 500 employees attribute greater importance to reporting. In the food processing sector, the disclosure of information and data under the taxonomy objectives of mitigation of climate change, sustainable use of water and marine resources, and transition to a circular economy was most common.

Keywords: EU taxonomy; Sustainability report; ESG criteria; Food processing industry (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s11135-024-01873-2

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