El mercado de verificación de la información sobre sostenibilidad en Europa

  1. Beatriz Aibar-Guzmán 1
  2. Isabel María García-Sánchez 2
  3. Cristina Aibar-Guzmán 1
  1. 1 Universidade de Santiago de Compostela
    info

    Universidade de Santiago de Compostela

    Santiago de Compostela, España

    ROR https://ror.org/030eybx10

  2. 2 Universidad de Salamanca
    info

    Universidad de Salamanca

    Salamanca, España

    ROR https://ror.org/02f40zc51

Journal:
Revista de Contabilidad y Tributación. CEF

ISSN: 2695-6896,  2792-8306

Year of publication: 2024

Issue: 496

Pages: 157-194

Type: Article

DOI: 10.51302/RCYT.2024.22315 DIALNET GOOGLE SCHOLAR

More publications in: Revista de Contabilidad y Tributación. CEF

Abstract

Directive (EU) 2022/2464 aims to consolidate and build on the progress made on corporate transpa-rency under Directive (EU) 2014/95 by establishing a set of initiatives aimed at equating sustainability information with financial data and ensuring stakeholders' digital access to comparable, reliable data. In this regard, it mandates that companies' sustainability information must undergo assurance by an independent professional, who will be subject to requirements akin to those for financial auditors. In the belief that a better understanding of how companies in the European Union have developed in the area of assurance of sustainability information may be helpful in view of the advent of its mandatory nature, this paper examines the current state of the assurance market in Europe, delineating market shares among different assurance providers and assessing the impact that the selection of these professionals has on company-level sustainability performance and the neutrality of disclosed sustainability informa-tion. Drawing from a sample of 1,687 large European companies spanning 2010-2022, the findings reveal that the enactment of Directive (EU) 2014/95 has spurred significant growth in the assurance market in Europe, particularly in jurisdictions where its transposition mandates the procurement of this service. The companies under study demonstrate a preference for engaging financial auditors over consultants. This choice bears significant implications for both the sustainability performance of these companies and the mitigation of greenwashing practices within their sustainability reports.

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Data source: Dialnet