logo czasopisma

Artykuły

Tom 57 Nr 4 (2025): Prawo i Więź nr 4 (57) 2025

Ramy prawne raportowania ESG w Unii Europejskiej – ewolucja od NFRD do CSRD

DOI:
https://doi.org/10.36128/PRIW.VI57.1409
Przesłane
30 czerwca 2025
Opublikowane
06-10-2025

Abstrakt

The transition to a zero-emission economy and sustainable development requires us to reduce our use of fossil fuels and implement legal and reporting mechanisms that oblige businesses to comply with environmental and social standards. One of the key challenges has become the reporting of non-financial information, including environmental, social and corporate governance (ESG) aspects. Initially, this data was reported in accordance with the 2014 NFRD Directive, which was replaced in 2024 by the CSRD Directive, and further legislative changes regarding non-financial reporting are currently being implemented and planned. This paper presents the evolution of the legal framework for ESG reporting in the European Union, identify differences in reporting obligations under the aforementioned directives; it also highlights problems related to the lack of consistent, uniform, and mandatory ESG reporting standards. Despite the implementation of the CSRD Directive, the paper emphasises that companies still have too much discretion in selecting the information to be reported, which hinders comparability and verification. The analysis confirms that the abundance of data and the qualitative nature of ESG indicators increase interpretative risks and may undermine the objectives of non-financial reporting.

Bibliografia

  1. Aureli Selena, Federica Salvatori, Elisabetta Magnaghi, „A Country-Comparative Analysis of the Transposition of the EU Non-Financial Directive: An Institutional Approach” Accounting, Economics, and Law, nr 2 (2020): 1-30. https://doi.org/10.1515/ael-2018-0047.
    Pokaż w Google Scholar
  2. Becker-Olsen Karen, Sean Potucek. „Greenwashing”, [w:] Encyclopedia of Corporate Social Responsibility, red. Samuel O. Idowu, Nicholas Capaldi, Liangrong Zu, Ananda Das Gupta. 1318-1323. Berlin: Springer, 2013. https://doi.org/10.1007/978-3-642-28036-8_104.
    Pokaż w Google Scholar
  3. Carmo Cecilia, Cristiana Ribeiro, „Mandatory Non-Financial Information Disclosure under European Directive 95/2014/EU: Evidence from Portuguese Listed Companies” Sustainability, nr 8 (2022): 4860. https://doi.org/10.3390/su14084860.
    Pokaż w Google Scholar
  4. Cheng Mandy Wendy Green, Pieter Conradie, Noryiuki Konishi, Andrea Romi, „The International Integrated Reporting Framework: Key Issues and Future Research Opportunities” Journal of International Financial Management & Accounting, nr 1 (2014): 90-119. https://doi.org/10.1111/jifm.12015.
    Pokaż w Google Scholar
  5. Christensen Hans B., Luzi Hail, and Christian Leuz, „Mandatory CSR and Sustainability Reporting: Economic Analysis and Literature Review” Review of Accounting Studies, nr 3 (2021): 1176-1248. https://doi.org/10.1007/s11142-021-09609-5.
    Pokaż w Google Scholar
  6. Elalfy Amr, Olaf Weber, Sean Geobey, „The Sustainable Development Goals (SDGs): A Rising Tide Lifts All Boats? Global Reporting Implications in a Post SDGs World” Journal of Applied Accounting Research, nr 3 (2021): 557-575.
    Pokaż w Google Scholar
  7. Fiandrino Simona, Alberto Tonelli, „A Text-Mining Analysis on the Review of the Non-Financial Reporting Directive: Bringing Value Creation for Stakeholders into Accounting” Sustainability, nr 2 (2021): 763. https://doi.org/10.3390/su13020763.
    Pokaż w Google Scholar
  8. Florczak-Wątor Monika, „Komentarz do art. 5”, [w:] Konstytucja RP, t. I-II, Komentarz, red. Marek Safjan, Leszek Bosek. Warszawa: C. H. Beck, 2016.
    Pokaż w Google Scholar
  9. Fonseca Luis, Filipe Carvalho, „The Reporting of SDGs by Quality, Environmental, and Occupational Health and Safety-Certified Organizations” Sustainability, nr 20 (2019): 5797. https://doi.org/10.3390/su11205797.
    Pokaż w Google Scholar
  10. Gabrusewicz Tomasz, Wiesława Przybylska-Kapuścińska, „Wartość w zrównoważonym rozwoju” Nauki o finansach, nr 17 (2013): 55-62.
    Pokaż w Google Scholar
  11. Huang Zhen, Shi Yanxuan, Ming Jia, „Greenwashing: A Systematic Literature Review.” Accounting and Finance, nr 1 (2024): 857-882. https://doi.org/10.1111/acfi.13352.
    Pokaż w Google Scholar
  12. Lozano Rodrigo, „A Holistic Perspective on Corporate Sustainability Drivers” Corporate Social Responsibility and Environmental Management, nr 1 (2015): 32-44. https://doi.org/10.1002/csr.1325.
    Pokaż w Google Scholar
  13. Matuszak Łukasz, Ewa Różańska, „Towards 2014/95/EU Directive Compliance: The Case of Poland” Sustainability Accounting, Management and Policy Journal, nr 5 (2021): 1052-1076. https://doi.org/10.1108/SAMPJ-02-2020-0042.
    Pokaż w Google Scholar
  14. Mikołajek-Gocejna Magdalena, „The Relationship Between ESG Rating and Firm Value—Evidence from Companies Listed on Polish Capital Market in the WIG-ESG Index” Central European Economic Journal, nr 11 (2024): 141-158. https://doi.org/10.2478/ceej-2024-0011.
    Pokaż w Google Scholar
  15. Mion Giorgio, Christian R. Loza Adaui, „Mandatory Nonfinancial Disclosure and Its Consequences on the Sustainability Reporting Quality of Italian and German Companies” Sustainability, nr 17 (2019): 4612. https://doi.org/10.3390/su11174612.
    Pokaż w Google Scholar
  16. Olszak Krzysztof i Angelina Stokłosa, „Interes spółki a koncepcja ESG – dokąd zmierzamy?” Prawo i Więź, nr 1 (2025): 347-382. https://doi.org/10.36128/PRIW.VI54.831.
    Pokaż w Google Scholar
  17. Oncioiu Ionica, Anca-Gabriela Petrescu, Florentina-Raluca Bîlcan, Marius Petrescu, Delia-Mioara Popescu, Elena Anghel, „Corporate Sustainability Reporting and Financial Performance” Sustainability, nr 10 (2020): 4297. https://doi.org/10.3390/su12104297.
    Pokaż w Google Scholar
  18. Sadowski Tomasz, „Raportowanie Zrównoważonego Rozwoju. Szanse i Wyzwania Nie Tylko dla Dużych Przedsiębiorców” Europejski Przegląd Prawa i Stosunków Międzynarodowych, nr 3 (2023): 153-167. https://doi.org/10.52097/eppism.8715.
    Pokaż w Google Scholar
  19. Sagan Mariusz, „Instytucjonalne Uwarunkowania Przedsiębiorstw a Zrównoważony Rozwój” Kwartalnik Nauk o Przedsiębiorstwie, nr 2 (2021): 27-39. http://doi.org/10.33119/KNoP.2021.59.2.3.
    Pokaż w Google Scholar
  20. Sarquis Raquel Wille, Ariovaldo dos Santos, Isabel Lourenço, Guillermo Oscar Braunbeck, „Joint venture investments: An analysis of the level of compliance with the disclosure requirements of IFRS 12” Journal of International Financial Management & Accounting, nr 2 (2021): 207-232. https://doi.org/10.1111/jifm.12130.
    Pokaż w Google Scholar
  21. Sikacz Hanna, Dorota Teneta-Skwierz, „The Role of Selected Tools of Institutionalizing the Environmental Area in the Process of Generating the Environmental Performance” Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, nr 1 (2022): 115-133.
    Pokaż w Google Scholar
  22. Torelli Ricardo, Federica Balluchi, Arianna Lazzini, „Greenwashing and Environmental Communication: Effects on Stakeholders’ Perceptions” Business Strategy and the Environment, nr 2 (2020): 407-421. https://doi.org/10.1002/bse.2373.
    Pokaż w Google Scholar

Downloads

Download data is not yet available.