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Guest editorial Rethinking non-financial reporting in Europe: challenges and opportunities in revising Directive 2014/95/EU

Guest editorial Rethinking non-financial reporting in Europe: challenges and opportunities in... Guest editorial Guest editorial Rethinking non-financial reporting in Europe: challenges and opportunities in revising Directive 2014/95/EU Background Recent years have seen the wide adoption of non-financial reports by firms. The disclosure of non-financial information has come in response to pressures from stakeholders regarding firms’ contributions to sustainable development (Mio et al., 2020; Pizzi et al., 2021). In this sense, non-financial reporting practices have evolved from activities conducted by socially responsible enterprises to activities conducted to comply with the external pressures of stakeholders, such as regulators, investors and citizens (Lehner and Harrer, 2019; Venturelli et al., 2021). Also, further stimulus was provided by the 2030 Agenda, which requires the Member States to introduce new forms of regulation within their jurisdictions to increase the transparency of financial markets (United Nations, 2015). Directive 2014/95/EU represents the main initiative developed in Europe to contribute to the 2030 Agenda actively. The Directive was introduced in response to the external pressures from investors regarding the exigence to provide more information about the social and environmental impacts of European public interest entities (PIEs) (Venturelli et al., 2020). However, the first years after the launch of Directive 2014/95/EU have seen scepticism from policymakers and academics. From an http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Applied Accounting Research Emerald Publishing

Guest editorial Rethinking non-financial reporting in Europe: challenges and opportunities in revising Directive 2014/95/EU

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Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
0967-5426
DOI
10.1108/jaar-02-2022-265
Publisher site
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Abstract

Guest editorial Guest editorial Rethinking non-financial reporting in Europe: challenges and opportunities in revising Directive 2014/95/EU Background Recent years have seen the wide adoption of non-financial reports by firms. The disclosure of non-financial information has come in response to pressures from stakeholders regarding firms’ contributions to sustainable development (Mio et al., 2020; Pizzi et al., 2021). In this sense, non-financial reporting practices have evolved from activities conducted by socially responsible enterprises to activities conducted to comply with the external pressures of stakeholders, such as regulators, investors and citizens (Lehner and Harrer, 2019; Venturelli et al., 2021). Also, further stimulus was provided by the 2030 Agenda, which requires the Member States to introduce new forms of regulation within their jurisdictions to increase the transparency of financial markets (United Nations, 2015). Directive 2014/95/EU represents the main initiative developed in Europe to contribute to the 2030 Agenda actively. The Directive was introduced in response to the external pressures from investors regarding the exigence to provide more information about the social and environmental impacts of European public interest entities (PIEs) (Venturelli et al., 2020). However, the first years after the launch of Directive 2014/95/EU have seen scepticism from policymakers and academics. From an

Journal

Journal of Applied Accounting Research – Emerald Publishing

Published: Feb 1, 2022

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