Lately, the disclosure of sustainability issues has played a pivotal role in corporate reporting. In the academic debate, some scholars noted the need for more concerning the influence exerted by environmental, social and governance (ESG) issues over the corporate image, reputation and value creation. To bridge the last gap, this study investigates the relationship between ESG disclosure and financial performance by analysing a sample of European-listed large-sized companies operating in the oil and gas industry from 2010–2014. The methodological choice for that period resides in the intention to investigate the earlier relationship before the entry into force of the EU Directive 95/2014 on disclosure of non-financial information. Our findings demonstrate that financial performance dimension, pertinent to corporate profitability or the firm’s financial autonomy, can positively affect ESG disclosure policies. These empirical findings can highlight the effectiveness of ESG disclosure by confirming the relevance of the EU initiatives.

Doni, F., Corvino, A., Martini, S. (2025). ESG disclosure and financial performance in the European oil and gas industry. INTERNATIONAL JOURNAL OF BUSINESS ENVIRONMENT, 16(1), 39-61 [10.1504/IJBE.2025.143097].

ESG disclosure and financial performance in the European oil and gas industry

Doni F.;
2025

Abstract

Lately, the disclosure of sustainability issues has played a pivotal role in corporate reporting. In the academic debate, some scholars noted the need for more concerning the influence exerted by environmental, social and governance (ESG) issues over the corporate image, reputation and value creation. To bridge the last gap, this study investigates the relationship between ESG disclosure and financial performance by analysing a sample of European-listed large-sized companies operating in the oil and gas industry from 2010–2014. The methodological choice for that period resides in the intention to investigate the earlier relationship before the entry into force of the EU Directive 95/2014 on disclosure of non-financial information. Our findings demonstrate that financial performance dimension, pertinent to corporate profitability or the firm’s financial autonomy, can positively affect ESG disclosure policies. These empirical findings can highlight the effectiveness of ESG disclosure by confirming the relevance of the EU initiatives.
Articolo in rivista - Articolo scientifico
disclosure; environmental, social and governance; ESG; EU Directive; Europe; financial performance; integrated reporting; oil and gas industry;
English
3-dic-2024
2025
16
1
39
61
none
Doni, F., Corvino, A., Martini, S. (2025). ESG disclosure and financial performance in the European oil and gas industry. INTERNATIONAL JOURNAL OF BUSINESS ENVIRONMENT, 16(1), 39-61 [10.1504/IJBE.2025.143097].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10281/459922
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