| Title | Uncovering corporate disclosure for a circular economy: An analysis of sustainability and integrated reporting by Sri Lankan companies |
|---|---|
| ID_Doc | 1926 |
| Authors | Gunarathne, N; Wijayasundara, M; Senaratne, S; Kanchana, PDK; Cooray, T |
| Title | Uncovering corporate disclosure for a circular economy: An analysis of sustainability and integrated reporting by Sri Lankan companies |
| Year | 2021 |
| Published | |
| Abstract | Despite the importance of circular economy-related corporate reporting, the way companies communicate their transition toward a circular economy through sustainability and integrated reporting has not yet been examined. This paper, thus, aims to explore how and to what extent the circular economy notions appear to inform of the sustainability and integrated reporting practices of corporations in Sri Lanka. By analyzing the direct, explicit, and implicit keyword disclosures of the top twenty performers in sustainability and integrated reporting in the country, the study found low levels of disclosures of direct and explicit keywords pertaining to the circular economy principles at the firm level. It raises the question of whether there is sufficient awareness about the principles of a circular economy and the strategies and ways of integrating them into business operations in the corporate sector in Sri Lanka. However, a considerable level of implicit disclosures suggests the Sri Lankan companies' strong interest to follow the environmental management principles to improve the organizational sustainability performance. Although the disclosed environmental management activities do not signal a direct embodiment of the circular economy principles, effective macro level support and direction have the potential of transforming firm-level interest to the faster transition to a circular economy from the current linear economic model. The study, therefore, recommends that policy makers create awareness, build capacity, develop infrastructure, enact and enforce laws, and support collaborations and aid practitioners improve corporate communication practices while developing business operations toward a circular economy without excluding them from the core activities. (C) 2021 Institution of Chemical Engineers. Published by Elsevier B.V. All rights reserved. |
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