Compliance Assessment Under European Sustainability Reporting StandardsEuropean Sustainability Reporting Standards: A Case Study of the Oil and Gas Sector

Bárbara Castro () and Cristina Góis ()
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Bárbara Castro: Polytechnic University of Coimbra
Cristina Góis: Polytechnic University of Coimbra

Chapter 4 in The Expanding Horizons of Business and Management, Volume II, 2026, pp 81-104 from Palgrave Macmillan

Abstract: Abstract This research explores the evolution of corporate sustainability, tracing its transition from ad hoc practices to the rigorous regulatory framework of the European Union. With the introduction of Directive 2022/2464 (CSRD) and the European Sustainability Reporting Standards (ESRS), organizations are now required to adopt transparent reporting processes to combat greenwashing. This study specifically focuses on the oil and gas sector, a carbon-intensive industry that faces significant hurdles in aligning with international climate goals. By analyzing the sustainability reports of sector entities, the research assesses the degree of compliance with the new ESRS requirements. The findings highlight the critical gap between current reporting practices and the stringent demands of the new standards, offering insights into how the industry can navigate this transition without compromising core business activities. Ultimately, the paper argues that sustainability is no longer a discretionary choice but a vital determinant of market competitiveness and long-term business continuity.

Keywords: Directive; double materiality; European Sustainability Reporting Standards; Financial materiality; Impact materiality; oil and gas sector; sustainability (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pscchp:978-3-032-26500-5_4

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DOI: 10.1007/978-3-032-26500-5_4

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