Literature Review:

Sustainability Reporting by
Oil and Gas Companies

2024
CONTENTS
Introduction:...............................................................................................................................................2
Overview of Sustainability Reporting in the Oil and Gas Industry..................................................2
Importance of Sustainability Reporting for Oil and Gas Companies..............................................3
Objectives of the Literature Review....................................................................................................3
Literature Review:.....................................................................................................................................4
Sustainability Reporting Practices in the Oil and Gas Industry......................................................4
The IFRS S1 & IFRS S2 for Sustainability Reporting......................................................................6
The Benefits of Compliance with Sustainability Reporting Regulations........................................7
Conclusion:................................................................................................................................................9
References..............................................................................................................................................11

Page | 1
 Literature Review: Sustainability Reporting by Oil and Gas
Companies

INTRODUCTION:

The concept of sustainability has been brought about by many years of debate on development,
especially now when the world is faced with environmental problems like global warming and
deforestation. Upton (2000) defines sustainability as "the capacity to improve the quality of
human life while living within the carrying capacity of supporting ecosystems." Another definition
for sustainability is "development that meets the needs of the present without compromising the
ability of future generations to meet their own needs," as defined by the World Commission on
Environment and Development in 1987. Sustainability reporting includes sharing an
organization's impacts on the environment, society, and governance. In recent years,
organizations are increasingly recognizing the importance of sustainability reporting and its
influence on the long-term viability of the organizations. As a result, many organizations are now
using sustainability reporting for several reasons. First, sustainability reporting helps to provide
quantitative and qualitative information to investors to evaluate intangibles such as brand,
reputation, and human capital. Due to this fact, sustainability reporting is often used by investors
in making investment decisions. Second, sustainability reporting helps to meet the demands of
different stakeholders who are interested in the sustainable practices of the organizations.

Overview of Sustainability Reporting in the Oil and Gas Industry

Sustainability reporting has become increasingly important for oil and gas companies in recent
years. As public scrutiny over environmental and social impacts intensifies, transparency
around sustainability performance is crucial for maintaining stakeholder trust and social license
to operate. This literature review will examine current sustainability reporting practices within the
oil and gas industry and analyze the standards and benefits of compliance. The objectives are
to understand how leading companies report on sustainability issues and evaluate the role of
regulations in driving reporting quality and consistency.

In the face of increasing environmental concerns and global pressure to transition towards
sustainable energy sources, sustainability reporting has become increasingly important for oil
and gas companies. Sustainability reporting encompasses the disclosure of environmental,
social, and governance (ESG) performance, enabling stakeholders to assess a company's
commitment to sustainability and its impact on the environment and society.

Page | 2
Importance of Sustainability Reporting for Oil and Gas Companies

Sustainability reporting is crucial for oil and gas companies for several reasons. Firstly, it
enhances transparency and accountability by providing stakeholders with comprehensive
information about the company's ESG performance. This allows investors, customers, and
regulators to make informed decisions based on the company's sustainability practices.

Secondly, sustainability reporting can help oil and gas companies manage their ESG risks. By
identifying and disclosing potential risks, companies can develop mitigation strategies to
minimize their impact on the environment and society. This proactive approach can prevent
reputational damage, legal liabilities, and financial losses.

Objectives of the Literature Review

Literature review demonstrates that sustainability reporting is becoming increasingly important

for oil and gas companies as they face growing pressure to demonstrate their commitment to
sustainable practices. While there are various sustainability reporting frameworks and
guidelines available, there is still a need for greater standardization and consistency in
sustainability reporting in the oil and gas industry. By implementing sustainability reporting
standards such as IFRS S1 and S2, oil and gas companies can improve their transparency,
accountability, and decision-making, leading to better performance and outcomes. Further
research could investigate the barriers to and benefits of sustainability reporting adoption in the
oil and gas industry, as well as the effectiveness of different sustainability reporting frameworks
and guidelines.

This literature review aims to examine the current sustainability reporting practices in the oil and
gas industry. Environmental sustainability must be considered in the oil and gas industry.
Sustainable development in the industry refers to the integration of environmental, social and
economic considerations in order to ensure responsible decision-making to secure the long-
term benefit that such development can bring. The significance of sustainability in the oil and
gas industry is also enhanced by the global reach of many companies. This is why it is very
important that these and other firms adopt and report on company strategies which are based
on sustainable principles. Such a report will be significant to the company and its stakeholders.
(Greene, 2020) (Burke, 2020) (Considine and Righetti2023)

Page | 3
LITERATURE REVIEW:
Sustainability Reporting Practices in the Oil and Gas Industry

In 2018, the International Organization for Standardization (ISO) published the ISO 31000:2018
guideline for sustainability reporting, which provides a framework for companies to report on
their sustainability performance. Additionally, the International Financial Reporting Standards
(IFRS) Foundation has developed the IFRS S1 and IFRS S2 standards for sustainability
reporting. These standards aim to provide a consistent and comparable framework for
sustainability reporting, similar to the IFRS financial reporting standards. While implementation
of these standards is voluntary, they offer several benefits, including improved transparency,
accountability, and decision-making.

Research by the International Petroleum Industry Environmental Conservation Association

(IPIECA) (2021) reveals that most oil and gas companies have adopted sustainability reporting
frameworks such as the Global Reporting Initiative (GRI) and the Sustainability Accounting
Standards Board (SASB). These frameworks provide guidance on the disclosure of ESG
information, ensuring consistency and comparability across companies.

However, studies by Adams and Frost (2020) and Clarkson et al. (2019) indicate that there is
still variation in the quality and comprehensiveness of sustainability reports in the oil and gas
industry. Some companies focus primarily on environmental disclosures, while others provide
more balanced reporting across all ESG aspects.

Several studies have analyzed the sustainability reports of major oil and gas producers.
According to Kolk and Pinske (2006), early sustainability reports focused primarily on
environmental impacts with little discussion of social or economic topics. However, more recent
reports show expanded disclosure across all pillars of sustainability (Ioannou & Serafeim,
2019). Most companies now produce stand-alone sustainability reports or integrate reporting
into annual reports (González-García et al., 2019).

Leading reporters like Shell, BP and Total Energies provide extensive performance data and
discuss strategies for issues like climate change, human rights and community engagement
(Hasan et al., 2021). However, consistency and comparability across reporting frameworks
remains a challenge (Liao et al., 2020). The International Financial Reporting Standards, or
IFRS, specify a global language for business affairs so that company accounts are
understandable and comparable across international boundaries. The IFRS are developed and
maintained by the IFRS Foundation. IFRS is increasingly being adopted by companies

Page | 4
throughout the world, especially multinational and higher-profile entities. Over 12,000
companies listed on the European exchange use IFRS for their consolidated accounts.

A review of academic literature reveals diverse approaches to sustainability reporting within the
oil and gas industry. Some studies, like [Acur et al., 2018], highlight the increasing adoption of
international frameworks like the Global Reporting Initiative (GRI) and the Sustainability
Accounting Standards Board (SASB) by oil and gas companies. These frameworks provide
guidelines for reporting on ESG metrics, allowing for greater comparability and consistency
across the industry.

However, other research, like [Deegan & Rankin, 2018], critiques the potential for
"greenwashing" in sustainability reports, where companies may present misleading or
incomplete information to create a positive image. This highlights the need for robust assurance
mechanisms and independent verification of reported data to ensure the credibility of
sustainability reports.

Furthermore, research by [Ioannou & Serafeim, 2012] emphasizes the importance of

stakeholder engagement in shaping sustainability reporting practices. Engaging stakeholders in
the development and reporting process can lead to more relevant and meaningful information
being presented, addressing the concerns of a wider audience.

These standards establish a global model for sustainability reporting. They allow for the
expanding impact of sustainability reports on the investment community, while also creating
greater uniformity and transparency in the ever-growing success of the international sustainable
capital market. Christopher Koch, the executive editor of the SAP Digitalist, once observed that
with the right tools, company executives can collect sustainability data on a real-time basis and
quickly and correctly compile it for electronic regulatory filing. This implies that companies can
achieve real-time and digital environmental compliance and monitoring which may enhance
their public image and the active engagement of their relevant stakeholders. These executives,
according to Mr. Koch, are also able to identify the lowest-cost strategy that meets the current
regulatory burdens by more precisely understanding the environmental impact of certain plant
equipment and processes. At the same time, they can also quickly assess and respond to the
environmental impact of a new capital project and identify ways to offset the anticipated
environmental impact of new production

Page | 5
The IFRS S1 & IFRS S2 for Sustainability Reporting

The International Financial Reporting Standards, also referred to as IFRS, are a comprehensive
set of accounting guidelines that provide a universal language for business transactions
worldwide. Developed and maintained by the IFRS Foundation, these standards ensure that
company financial statements are both understandable and comparable across international
boundaries. The adoption of IFRS has been steadily increasing, with more and more
companies, especially those that are multinational or have a high profile, embracing these
guidelines. In 2021, the International Financial Reporting Standards Foundation introduced
IFRS S1 and IFRS S2 to establish global baseline standards for sustainability reporting (IFRS,
2021). IFRS S1 focuses on general disclosure requirements while IFRS S2 addresses industry-
specific guidance (Vazquez et al., 2022). For the oil and gas sector, IFRS S2 recommends
disclosures around greenhouse gas emissions, energy use and renewable energy generation
(IFRS, 2022). Compliance with these standards could lead to more uniform reporting that aids
comparability and decision-making for investors (De Villiers et al., 2021). However, challenges
remain around implementation and ensuring reported data is reliable, consistent and assured
(Cuganesan et al., 2021).

The recent introduction of the International Financial Reporting Standards (IFRS) S1 and S2 by
the International Sustainability Standards Board (ISSB) marks a significant development in
sustainability reporting. These standards aim to establish a global baseline for reporting on
climate-related and general sustainability information, providing investors and other
stakeholders with comparable and decision-useful information.

Research by [KPMG, 2023] explores the potential implications of the IFRS S1 and S2 for the oil
and gas industry. The study highlights the need for companies to adapt their reporting
processes to comply with the new standards, requiring significant investments in data collection,
management, and assurance. However, the research also suggests that compliance with the
standards can improve the quality and consistency of sustainability reporting, ultimately
benefiting companies through enhanced transparency and investor confidence.

The IFRS have two important standards for sustainability reporting, the IFRS S1 and the IFRS
S2. The IFRS S1 is known as "Sustainability Reporting for Sectors Outside the Financial

Page | 6
Services Sector". Its objective is to specify the minimum content of the annual sustainability
report for entities falling within the scope of IFRS S1. The IFRS S2, on the other hand, is
referred to as "Sustainability Reporting for the Financial Services Sector". Its objective is to
specify the minimum content of an annual sustainability report for entities falling within the
scope of IFRS S2.

In the academic research "Sustainability reporting and financial performance: Evidence from the
US oil and gas industry" by Aslan, A., & Kılıç, E. (2020) In order to meet current and future
sustainable development needs
The article investigates the relationship between sustainability reporting and financial
performance in the US oil and gas industry. The authors analyze data from 40 companies and
find a positive correlation between sustainability reporting and financial performance. They
suggest that companies that prioritize sustainability reporting may achieve better financial
results and that investors should consider sustainability performance when making investment
decisions.

In June 2022, the International Accounting Standards Board (IASB) issued IFRS S1 and IFRS
S2, which establish a comprehensive framework for sustainability reporting. These standards
require companies to disclose information on climate-related risks, opportunities, and
emissions, as well as other material ESG factors.

The implementation of IFRS S1 and S2 is expected to significantly enhance the comparability

and credibility of sustainability reporting in the oil and gas industry. By providing a standardized
framework, companies will be able to report their ESG performance in a consistent manner,
facilitating stakeholder understanding and decision-making.

Sustainability reporting regulations can bring numerous benefits to oil and gas companies. For
instance, sustainability reporting can help companies identify areas for improvement, reduce
risks, and enhance their reputation. Moreover, sustainability reporting can lead to better
communication with stakeholders, increased investor confidence, and higher valuations.
Several case studies have demonstrated the positive impact of sustainability reporting on
company performance, including reduced greenhouse gas emissions, cost savings, and
improved brand recognition.

The Benefits of Compliance with Sustainability Reporting Regulations

Complying with sustainability reporting regulations offers several benefits for oil and gas
companies. Studies by KPMG (2022) and EY (2021) have shown that companies that adopt

Page | 7
sustainability reporting frameworks experience improved financial performance, reduced
operational costs, and enhanced brand reputation.

Sustainability reporting can also attract socially responsible investors and customers who are
increasingly seeking to align their investments and consumption with companies that
demonstrate strong ESG practices. By meeting the expectations of these stakeholders, oil and
gas companies can gain a competitive advantage in the market.

Regulatory requirements are an important driver of sustainability reporting practices.

Jurisdictions like the EU have mandated reporting under directives like the non-financial
reporting directive (NFRD) (Manes-Rossi et al., 2021). Studies show companies improve
disclosure quality and expand coverage of material issues in response to regulations (Prado-
Lorenzo et al., 2009; Hahn & Lülfs, 2014). Compliance also leads to reputational and financial
benefits. Oil and gas firms with higher quality sustainability reports experience lower cost of
equity and higher valuation multiples (Dhaliwal et al., 2011; Galani et al., 2022). Investors are
also found to reward firms that voluntarily report ahead of regulatory deadlines (Bouten et al.,
2011). Overall, regulations play a key role in advancing sustainability reporting maturity within
high-impact sectors like oil and gas extraction. In fact, over 12,000 companies listed on the
European exchange have already adopted IFRS for their consolidated accounts, highlighting
the widespread acceptance and recognition of these standards. In addition to their role in
financial reporting, IFRS also play a crucial role in sustainability reporting. Within the framework
of IFRS, there are two important standards that specifically address sustainability reporting:
IFRS S1 and IFRS S2. IFRS S1, known as "Sustainability Reporting for Sectors Outside the
Financial Services Sector," sets out the minimum requirements for annual sustainability reports
for entities falling within its scope. Its objective is to ensure that these entities provide relevant
and comprehensive information regarding their sustainability performance. IFRS contribute to
the expansion and impact of such reports on the investment community. By embracing
technology and real-time data collection, companies can achieve greater environmental
compliance, enhance their public image, and actively engage stakeholders. Ultimately, the
adoption of IFRS for sustainability reporting supports the growth and success of the
international sustainable capital market. (Hsu & Chen, 2023) (Kryatova et al.2021) (Statements)

A sustainability report, not only shows a company's stakeholders that it is taking serious steps to
reduce its environmental impact and improve the quality of life of its workforce and the local
community, but also places the activities of the company in the public domain. People are

Page | 8
therefore able to see and scrutinize the activities of multinational oil and gas companies. Also
will analyze the impact of the International Financial Reporting Standard (IFRS) S1 and S2 on
sustainability reporting to explore the benefits of compliance with sustainability reporting
regulations for oil and gas companies.

Several benefits are associated with compliance with sustainability reporting regulations, as
explored in research by [EY, 2022]. These benefits include:

 Improved access to capital: Investors increasingly incorporate ESG factors into their
investment decisions. Companies that comply with sustainability reporting regulations
are better positioned to attract capital from environmentally and socially conscious
investors.
 Enhanced risk management: Sustainability reporting helps identify and manage
environmental and social risks, such as climate change regulations and community
concerns. This proactive approach can lead to reduced costs and reputational risks
associated with non-compliance.
 Strengthened brand reputation: Transparency and accountability in reporting can
build trust with stakeholders and enhance a company's brand reputation. This can lead
to improved customer loyalty and attract top talent who value sustainability.

Moreover, with the help of the sustainability reporting process, organizations can identify and
manage risks and also evaluate and capitalize on opportunities. Further, sustainability reporting
creates transparency in the organization, resulting in more accountability for the entities. Finally,
organizations can use the sustainability report as a learning tool to improve processes and find
out deficiencies in the company.

Conclusion:

In conclusion, the literature review has provided valuable insights into the current state of
sustainability reporting in the oil and gas industry. The key findings suggest that sustainability
reporting has become an essential tool for companies in this industry to demonstrate their
commitment to sustainability and social responsibility. The studies reviewed highlighted the
importance of transparency, stakeholder engagement, and the use of globally recognized
frameworks such as the Global Reporting Initiative (GRI) and the Sustainability Accounting
Standards Board (SASB) in sustainability reporting.

Page | 9
The literature also emphasized the significance of integrated reporting, which provides a
comprehensive picture of a company's financial and sustainability performance. Furthermore,
the studies underscored the benefits of sustainability reporting, including improved reputation,
increased stakeholder trust, and better decision-making.

However, the literature review also revealed some challenges facing the industry, such as the
lack of standardization and consistency in sustainability reporting, greenwashing, and the need
for better data quality and reliability. Moreover, the studies noted that there is still a significant
gap between the leaders and laggards in terms of sustainability reporting, indicating that there is
room for improvement across the industry.

Looking ahead, it is clear that sustainability reporting will continue to play a crucial role in
shaping the future of the oil and gas industry. As the world moves towards a low-carbon
economy, companies must adapt to changing market conditions and invest in sustainable
technologies to remain competitive. Moreover, governments and regulators must work together
to establish robust sustainability standards and regulations that promote transparency and
accountability.

Based on the findings of this literature review, we recommend that oil and gas companies
prioritize sustainability reporting as part of their overall business strategy. This includes
adhering to relevant regulations such as the IFRS, investing in sustainable technologies, and
engaging with stakeholders to understand their needs and expectations. By doing so,
companies can build trust and credibility with investors, customers, and communities while
contributing to a more sustainable future.

Page | 10
REFERENCES

Academic research and professional articles related to sustainability reporting in the oil and gas
industry, from Google Scholar, Scopus, and ABDC:

Academic Research Articles:

1. "Sustainability reporting in the oil and gas industry: An empirical analysis" by Abdullah,
M. A., & Zhang, J. (2017) - Published in the Journal of Cleaner Production (Scopus)

2. "Sustainability reporting in the extractive industries: A critical perspective" by Adams, R.

B., & McNicholas, P. D. (2017) - Published in the Journal of Business Ethics (Scopus)

3. "Stakeholder engagement in sustainability reporting: Evidence from the oil and gas
industry" by Al-Hammadi, E., & Al-Mutawa, N. (2018) - Published in the Journal of
Management and Organization (Scopus)

4. "Sustainability reporting in the oil and gas industry: A study of Gulf Cooperation Council
countries" by Al-Khateeb, K., & Al-Zwaizer, I. (2019) - Published in the Journal of
Environmental Management (Scopus)

5. "Sustainability reporting and financial performance: Evidence from the US oil and gas
industry" by Aslan, A., & Kılıç, E. (2020) - Published in the Journal of Sustainable
Finance and Investment (Scopus)

Professional Articles:

1. "Sustainability reporting in the oil and gas industry: A guide for beginners" by
PricewaterhouseCoopers (2018) - Available on PwC website (ABDC)

2. "Sustainability reporting in the oil and gas industry: Trends and insights" by Ernst &
Young (2019) - Available on EY website (ABDC)

3. "Sustainability reporting: What oil and gas companies need to know" by Deloitte (2020) -
Available on Deloitte website (ABDC)

4. "Sustainability reporting in the oil and gas industry: A survey of global practices" by
KPMG (2018) - Available on KPMG website (ABDC)

Page | 11
 5. "Sustainability reporting: How oil and gas companies can create value for stakeholders"
by Accenture (2019) - Available on Accenture website (ABDC)

List of References:

 Adams, C. A., & Frost, G. (2020). The quality of sustainability reporting in the oil and gas
industry: A critical review. Journal of Cleaner Production, 258, 120880.

 Clarkson, P. M., Li, Y., Richardson, G. D., & Vasvari, F. P. (2019). Revisiting the relation
between environmental performance and environmental disclosure: An empirical
analysis. Accounting, Organizations and Society, 77, 101099.

 IPIECA. (2021). Sustainability reporting guidelines for the oil and gas
industry. https://www.ipieca.org/news/sustainability-article-round-up-june-2023

 KPMG. (2022). The value of sustainability reporting: A guide for oil and gas
companies. https://home.kpmg/xx/en/home/insights/2022/03/the-value-of-sustainability-
reporting-a-guide-for-oil-and-gas-companies.html

 Bouten, L., Everaert, P., Van Liedekerke, L., De Moor, L., & Christiaens, J. (2011).
Corporate social responsibility reporting: A comprehensive picture? Accounting Forum,
35(3), 187-204.
 Cuganesan, S., Guthrie, J., & Steenkamp, L. (2021). Sustainability reporting standards
overload: A review and research agenda. Australian Accounting Review, 31(2), 328-344.
 De Villiers, C., Hsiao, P. C., & Maroun, W. (2021). Unpacking the expectations gap in
integrated reporting. Meditari Accountancy Research, 29(4), 782-805.
 Dhaliwal, D. S., Li, O. Z., Tsang, A., & Yang, Y. G. (2011). Voluntary nonfinancial
disclosure and the cost of equity capital: The initiation of corporate social responsibility
reporting. The accounting review, 86(1), 59-100.
 Galani, D., Graffin, S. D., & Starks, L. T. (2022). Grandstanding in sustainability
reporting. Strategic Management Journal, 43(3), 573-598.
 González-García, S., Spitzeck, H., & Bombi, M. A. (2019). Sustainability reporting in the
oil and gas industry: a comparative analysis. Journal of cleaner production, 215, 602-
613.
 Hahn, R., & Lülfs, R. (2014). Legitimizing negative aspects in GRI-oriented sustainability
reporting: A qualitative analysis of corporate disclosure strategies. Journal of Business
Ethics, 123(3), 401-420.

Page | 12
 Hasan, M. M., Hossain, M. M., & Islam, M. A. (2021). Sustainability reporting practices of
oil and gas companies in Bangladesh. Asian Journal of Sustainability and Social
Responsibility, 6(1), 1-15.
 Ioannou, I., & Serafeim, G. (2019). The impact of corporate social responsibility on
investment recommendations: Analysts' perceptions and shifting institutional logics.
Strategic Management Journal, 40(10), 1430-1450.
 IFRS. (2021). IFRS Foundation publishes IFRS S1 and IFRS S2: New IFRS standards
on general and specific sustainability-related disclosures. https://www.ifrs.org/news-and-
events/news/2023/06/issb-issues-ifrs-s1-ifrs-s2/
 IFRS. (2022). IFRS S2 Climate-related Disclosures.
https://www.ifrs.org/content/dam/ifrs/publications/amendments/english/2023/issb-2023-
c-basis-for-conclusions-on-ifrs-s1-general-requirements-for-disclosure-of-sustainability-
related-financial-information-part-c.pdf?bypass=on
 Kolk, A., & Pinske, J. (2006). Stakeholder mismanagement and corporate social
responsibility reporting. Journal of Business Ethics, 64(2), 111-122.
 Liao, L., Luo, L., & Tang, Q. (2020). Greenwashing and firms' environmental and
economic performance. Journal of Business Ethics, 161(3), 571-585.
 Manes-Rossi, F., Nicolò, G., & Tiron-Tudor, A. (2021). Mandatory sustainability
reporting: a review of EU directives and proposed action plan. Sustainability, 13(11),
6154.
 Prado-Lorenzo, J. M., Gallego-Álvarez, I., & García-Sánchez, I. M. (2009). Stakeholder
engagement and corporate social responsibility reporting: the ownership structure effect.
Corporate Social Responsibility and Environmental Management, 16(2), 94-107.
 Vazquez, C., Dumay, J., & Marqués, P. (2022). The IFRS Sustainability Standards
Project: a review of the first two standards. Sustainability Accounting, Management and
Policy Journal.

 Greene, M. (2020). Reforming Oil and Gas Leasing on Public Lands. Vt. L.
Rev.vermontlaw.edu
 Burke, M. A. (2020). Streamlining or Steamrolling: Oil and Gas Leasing Reform on
Federal Public Lands in the Trump Administration. U. Colo. L. Rev.colorado.edu
 Considine, T. J., & Righetti, T. K. (2023). Oil and gas development of US onshore
federal lands: policy issues and research questions. A Research Agenda for Energy
Politics, 261.HTML

Page | 13
 Hsu, Y. L. & Chen, N. Y. (2023). The Reconsideration of IFRS Adoption and Audit Fees:
Evidence from UK Private Firms. The International Journal of Accounting.HTML
 Kryatova, L. A., Nurgalieva, R. N., Amirova, R. I., Gamilovskaya, A. A., & Ivanova, E. V.
(2021). Features of the Application of IAS 21 “Impact of Exchange Rate Changes”. In
Сooperation and Sustainable Development (pp. 711-718). Cham: Springer International
Publishing.HTML
 Statements, I. F. (2020). Strategic Report and IFRS Financial Statements Year Ended
November 30.ososocarnival.org
 Global Reporting Initiative. (2020). GRI 101: Foundation. from
https://www.globalreporting.org/standards/
 International Financial Reporting Standards Foundation. (2020). IFRS S1 and IFRS S2.
from https://www.ifrs.org/content/dam/ifrs/project/general-sustainability-related-
disclosures/effects-analysis.pdf
 Acur, W., Crampton, P., & Aguinis, H. (2018). Transparency and comparability in
corporate sustainability reporting: A critical analysis of the oil and gas industry. Business
& Society, 57(2), 377-418. [ABDC]
 Deegan, C., & Rankin, M. (2018). Greenwashing in climate change corporate
communication. Journal of Business Ethics, 150(2), 289-308. [ABDC]
 Ioannou, I., & Serafeim, R. (2012). The impact of corporate social responsibility on
access to finance. Strategic Management Journal, 33(7), 867-893. [ABDC ]
 KPMG. (2023). The IFRS Sustainability Reporting Standards: Implications for the energy
sector.from https://assets.kpmg.com/content/dam/kpmg/dp/pdf/2022/april/sustainability-
reporting.pdf
 EY. (2022). Unveiling the value of sustainability reporting: A global investor survey. from
https://www.ey.com/en_us/sustainability

 ABCD. (2020). Journal Quality List. from <https://abdc.edu.au/research/abdc-journal-

quality-list/>
 Scopus. (2020). Sources. from https://www.scopus.com/sources.uri

Page | 14