Analysis of IBEX-35 Listed Companies: Recent CSR Reports and Behavior of the Main Indicators. Existence of a Proportional Relationship between Greenwashing and Deficient CSR Reports

Cristina Chueca Vergara and Luis Ferruz Agudo

Chapter 66 in Handbook of Investment Analysis, Portfolio Management, and Financial Derivatives:In 4 Volumes, 2024, pp 2089-2120 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Currently, environmental concern, as well as other issues such as corporate social responsibility (CSR) or socially responsible investment, is leading many companies to implement “greenwashing” behaviors. In this chapter, the factors concerning “greenwashing” will be analyzed, and the relationship between those behaviors and deficient sustainability reports will be examined. This study will be approached from the point of view of the Spanish reality, paying special attention to listed companies, specifically to those which are listed on the IBEX 35 Index. In order to achieve that objective, this chapter analyzes the sustainability reports of six companies listed on the IBEX 35 Index belonging to different sectors: energy, oil, consumer goods, financial services, basic materials, industry and construction, and technology and telecommunications. Moreover, greenwashing in plastic industry will be analyzed. Finally, we draw conclusions about the relationship between “greenwashing” and CSR.

Keywords: Financial Accounting; Financial Auditing; Mutual Funds; Hedge Funds; Asset Pricing; Options; Portfolio Analysis; Risk Management; Investment Analysis; Momentum Analysis; Behavior Analysis; Futures; Index Futures; CDCs; Financial Econometrics; Statistics; Financial Derivatives; Financial Accounting (search for similar items in EconPapers)
JEL-codes: G1 G11 G12 G3 M41 M42 (search for similar items in EconPapers)
Date: 2024
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