The Intergovernmental Panel on Climate Change (IPCC) assesses the im- pact to 2030, in terms of reduction of pollutant GHG emissions, of some inter- ventions proposed by the same and inclusive of growth and development, in or- der to compare them with the limit of 2°C of global warming. The study assumes, as a starting point, the estimated projection of polluting emissions to 2030 (68 Gt CO2), calculated assuming the same current growth trends (today 50 Gt CO2). To achieve this, global average coal productivity, measured by the global output ratio (US dollars) and pollutant GHG emissions, is expected to grow by 1–4% per year. The Global Commission on the Economy and Climate, established in 2013 within the United Nations, sets within this framework the objective of fostering economic growth and development and tackling the risk of climate change. Climate change is a global issue, and the action of governments and insti- tutions cannot be enough: the private sector can play a primary role in combat- ing climate change, concentrating the activities of reducing emissions in low-cost options and in the conscious choice of financing in line with company objectives and mission. A new model of climate risk management is finally emerging in the private sector. Business benefits go far beyond reducing emissions, companies that are able to assess and understand the risks and opportunities related to the climate will be able to make better decisions over the long term, becoming a real business opportunity. Companies have the duty to demonstrate to the society their active contri- bution, and it is important to underline that the management of environmental issues can no longer be the sole responsibility of the sustainability teams, it must become a priority sector for the entire company management. In other words, the concept related to environmental protection is constant- ly evolving also trying to match with the economic, social and cultural life of the place where the notion itself has evolved, namely with the hic et nunc and with the rulers’ political and legal skills to outline future scenarios, suitable for new needs. The issue, therefore, takes on a considerably pragmatic dimension, especially in re- lation to companies’ perspective regarding a series of norms and official documents that require and promote virtuous behavior aimed at preserving the environment. Such a situation has produced significant consequences and the debate that followed led to a multi-dimensional vision of sustainable development whose pol- icies include instruments and measures aimed at preserving the environment and ecosystem. In particular, it is noted that the growing awareness of environmental issues today requires companies to consider the effects generated by their produc- tion process on the natural environment, and adopt good behaviors that should go beyond mere compliance with laws designed to protect the environment. Starting with the basic premise that industry has a great impact on the en- vironment and that society legitimates industry it is argued that, as said above, industry has a duty to act in order to reduce the risk connected to the envi- ronmental impact. Therefore, there is a need for a measurement system to as- sess industry’s impact, and to respond to the companies’ stewardship function in order to report their environmental accounting to their stakeholders. To this aim national and international legal systems have introduced “new” rules and principles on the environment impact that companies must comply with in or- der to obtain “legal justification” to their economic actions. In order to address this kind of issues Italy has introduced an accounting standard aimed at boosting environmental protection measures, so as to reduce harmful emissions of indus- trial processes, and the application of new technologies with low environmental impact. However, today large and complex interest in environmental issue have demonstrated that the traditional accounting paradigm with its narrow focus on accounting numbers does not have the strength to capture the environmental consequences of organizational activity in this framework companies should give a measure of their environmental impact not only to respect the laws but in the attempt to really reduce it. Together a with the traditional accounting according to Jones (2010) “There is thus a need for a new holistic accounting which captures corporate environmental impacts”.The objective of the paper is to analyze the “grade of sensibility” to sustain- ability issue of companies that are obliged to apply OIC 8. The paper proceeds as follow. From section 2 to section 5 we present the theoretical framework and the relevant literature review. The sixth section provides data, methodology and results. The last section presents discussion and conclusion.

Sustainable Voluntary Disclosure and European Emission Trading System: Evidences from Italian Companies

Centorrino, Giovanna
Primo
;
Naciti, Valeria
Ultimo
2019-01-01

Abstract

The Intergovernmental Panel on Climate Change (IPCC) assesses the im- pact to 2030, in terms of reduction of pollutant GHG emissions, of some inter- ventions proposed by the same and inclusive of growth and development, in or- der to compare them with the limit of 2°C of global warming. The study assumes, as a starting point, the estimated projection of polluting emissions to 2030 (68 Gt CO2), calculated assuming the same current growth trends (today 50 Gt CO2). To achieve this, global average coal productivity, measured by the global output ratio (US dollars) and pollutant GHG emissions, is expected to grow by 1–4% per year. The Global Commission on the Economy and Climate, established in 2013 within the United Nations, sets within this framework the objective of fostering economic growth and development and tackling the risk of climate change. Climate change is a global issue, and the action of governments and insti- tutions cannot be enough: the private sector can play a primary role in combat- ing climate change, concentrating the activities of reducing emissions in low-cost options and in the conscious choice of financing in line with company objectives and mission. A new model of climate risk management is finally emerging in the private sector. Business benefits go far beyond reducing emissions, companies that are able to assess and understand the risks and opportunities related to the climate will be able to make better decisions over the long term, becoming a real business opportunity. Companies have the duty to demonstrate to the society their active contri- bution, and it is important to underline that the management of environmental issues can no longer be the sole responsibility of the sustainability teams, it must become a priority sector for the entire company management. In other words, the concept related to environmental protection is constant- ly evolving also trying to match with the economic, social and cultural life of the place where the notion itself has evolved, namely with the hic et nunc and with the rulers’ political and legal skills to outline future scenarios, suitable for new needs. The issue, therefore, takes on a considerably pragmatic dimension, especially in re- lation to companies’ perspective regarding a series of norms and official documents that require and promote virtuous behavior aimed at preserving the environment. Such a situation has produced significant consequences and the debate that followed led to a multi-dimensional vision of sustainable development whose pol- icies include instruments and measures aimed at preserving the environment and ecosystem. In particular, it is noted that the growing awareness of environmental issues today requires companies to consider the effects generated by their produc- tion process on the natural environment, and adopt good behaviors that should go beyond mere compliance with laws designed to protect the environment. Starting with the basic premise that industry has a great impact on the en- vironment and that society legitimates industry it is argued that, as said above, industry has a duty to act in order to reduce the risk connected to the envi- ronmental impact. Therefore, there is a need for a measurement system to as- sess industry’s impact, and to respond to the companies’ stewardship function in order to report their environmental accounting to their stakeholders. To this aim national and international legal systems have introduced “new” rules and principles on the environment impact that companies must comply with in or- der to obtain “legal justification” to their economic actions. In order to address this kind of issues Italy has introduced an accounting standard aimed at boosting environmental protection measures, so as to reduce harmful emissions of indus- trial processes, and the application of new technologies with low environmental impact. However, today large and complex interest in environmental issue have demonstrated that the traditional accounting paradigm with its narrow focus on accounting numbers does not have the strength to capture the environmental consequences of organizational activity in this framework companies should give a measure of their environmental impact not only to respect the laws but in the attempt to really reduce it. Together a with the traditional accounting according to Jones (2010) “There is thus a need for a new holistic accounting which captures corporate environmental impacts”.The objective of the paper is to analyze the “grade of sensibility” to sustain- ability issue of companies that are obliged to apply OIC 8. The paper proceeds as follow. From section 2 to section 5 we present the theoretical framework and the relevant literature review. The sixth section provides data, methodology and results. The last section presents discussion and conclusion.
2019
9788372858900
File in questo prodotto:
File Dimensione Formato  
Giovanna Centorrino, Valeria Naciti Sustainable Voluntary Disclosure and European Emission Trading System- Evidences from Italian Companies.pdf

solo utenti autorizzati

Tipologia: Versione Editoriale (PDF)
Licenza: Tutti i diritti riservati (All rights reserved)
Dimensione 2.07 MB
Formato Adobe PDF
2.07 MB Adobe PDF   Visualizza/Apri   Richiedi una copia
Copertina.pdf

solo utenti autorizzati

Descrizione: Copertina volume
Tipologia: Altro materiale allegato (es. Copertina, Indice, Materiale supplementare, Brevetti, Spin off, Start up, etc.)
Licenza: Tutti i diritti riservati (All rights reserved)
Dimensione 1.61 MB
Formato Adobe PDF
1.61 MB Adobe PDF   Visualizza/Apri   Richiedi una copia
Pubblicazioni consigliate

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11570/3148398
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus ND
  • ???jsp.display-item.citation.isi??? ND
social impact