Identifying transitions in corporate sustainability reporting: a content analysis of JSE/FTSE multinational sustainability reports from 2016 to 2021

Abstract

AbstractThe dominant practice governing sustainability reporting in the private sector is that of Corporate Social Responsibility (CSR) or Environmental Social Governance (ESG) reporting. CSR has its roots in philanthropy and charitable initiatives, while ESG aims to integrate environmental, social, and governance factors into business practices and decision-making. This paper analyses the transition in sustainability worldviews revealed in corporate sustainability reporting from 2016 to 2021. It uses a longitudinal content analysis methodology applied to a sample of ten multinational companies listed on the South African JSE/FTSE top 40 index. The period for the longitudinal study is framed from when the companies started reporting on ESG. The JSE/FTSE was chosen as the companies listed in the top 40 represent 80% of the value on the JSE (JSE 2020). The qualitative content analysis makes use of the five stages of corporate sustainability model to position companies’ sustainability reports within these five stages (Landrum & Ohsowski, 2018a). The key finding of this paper is that multinational companies have been slow to transition their sustainability reporting practices. The current reports reflect a business-as-usual mindset that is driven by compliance with reporting regulations. There is an absence of reporting that reflects a view of embedding business operations within bounded science-based ecological and social environments.