The future of non‐financial businesses reporting: Learning from the Covid‐19 pandemic

Abeer Hassan, Ahmed A. Elamer, Suman Lodh (Lead / Corresponding author), Lee Roberts, Monomita Nandy (Lead / Corresponding author)

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    Abstract

    In this paper we conceptually identify the gap in the literature about lack of business's awareness in non -financial activities, especially biodiversity, which can be responsible for crisis like Covid-19 which can adversely affect the global economy. We recommend approaches to existing business about how to enhance the quality of reporting by considering non-human element in reporting and making it more comprehensive for the stakeholders. We adopt Actor Network Theory (ANT) and the Natural Inventory Model to support our argument that nature consists of both human and non-human. From our observation about the Covid-19 crisis and by consulting the existing relevant literature on CSR, Covid-19, non-financial reporting and integrated reports (IR), we propose the implication of non-financial reporting by companies based on a theoretical framework. We recommend that companies should implement/adopt Circular Economy concept for sustainable business model and report on biodiversity and extinction accounting in more structured and mandatory way via producing IR to create value on short, medium and long terms. This is the first paper to tackle the Covid-19 crisis and offer solution for future reporting. The findings will add value in the academia and society.
    Original languageEnglish
    Pages (from-to)1231-1240
    Number of pages10
    JournalCorporate Social Responsibility and Environmental Management
    Volume28
    Issue number4
    Early online date16 Jul 2021
    DOIs
    Publication statusPublished - 6 Oct 2021

    Keywords

    • biodiversity
    • business reporting
    • circular economy
    • integrated reporting
    • Covid-19 crisis
    • non-financial reporting
    • stakeholder engagement
    • sustainable development

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