Exploring Sustainability Reporting and Non-financial Reporting in Green Finance: A Literature Review
Tinotenda Douglas Hwara (),
Naledi Tendai Moyo () and
Ayodeji Michael Obadire ()
Additional contact information
Tinotenda Douglas Hwara: Botswana Accountancy College
Naledi Tendai Moyo: Botswana Accountancy College
Ayodeji Michael Obadire: Botswana Accountancy College
Chapter Chapter 8 in The Palgrave Handbook of Green Finance for Sustainable Development, 2024, pp 207-235 from Palgrave Macmillan
Abstract:
Abstract Given the growing calls to increase sustainable business practices in transitioning to sustainable economies and the sense of urgency expressed by global actors to behave in a responsible sustainable manner when interacting with the environment and communities at large it is apparent that efforts to further this objective require a large investment. This investment is largely referred to as green finance. This chapter explores this phenomenon and links it to the global sustainability reporting frameworks and standards currently available by conducting a systematic literature review. Additionally, the chapter highlights the relationship between green finance, sustainability, and non-financial reporting. It further discusses reporting frameworks and reporting standards such as the Global Reporting Initiative standards, issued by the Global Sustainability Board (GRI) and those issued by the International Sustainability Standards Board (ISSB). Despite the undeniable benefits of these reporting practices, the chapter acknowledges and discusses four key challenges and critiques, including the costs of compliance, potential skewed stakeholder perspectives, subjective determination of materiality, and the risks of greenwashing and selective reporting. It emphasizes the ongoing need for a standardized reporting criterion, strengthened regulations, and enhanced accountability measures to foster transparency and trust. The conclusion calls for stricter guidelines, independent verification, and the harmonization of financial practices with sustainability goals to realize a sustainable and responsible future.
Keywords: Global Reporting Initiative; Green Finance; International Sustainability Standards Board; Non-Financial Reporting; Sustainability Reporting (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:pal:psifcp:978-3-031-65756-6_8
Ordering information: This item can be ordered from
http://www.palgrave.com/9783031657566
DOI: 10.1007/978-3-031-65756-6_8
Access Statistics for this chapter
More chapters in Palgrave Studies in Impact Finance from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().