Legal obligation of ESG reporting and the quality of environmental disclosure practices: the case of Moroccan listed industrial companies

IF 18 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY Accounts of Chemical Research Pub Date : 2024-06-14 DOI:10.1108/ijlma-12-2023-0269

Fatima Zahra Namoussi, Mariam Cherqaoui

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Abstract

Purpose This paper aims to examine the impact of the legal obligation for environmental, social, and governance (ESG) reporting, introduced in 2019 by the Moroccan Capital Market Authority (AMMC), on the environmental disclosure practices of industrial companies listed on the Casablanca Stock Exchange (CSE). Design/methodology/approach An analysis of the content of the ESG reports of the industrial listed companies on the CSE is carried out over the two years that frame the year of implementation of the AMMC circular, i.e. 2018 and 2020, to analyze the difference in the quality of their environmental disclosures using a conformity criterion based on the Environmental section (N°300) of the “Global Reporting Initiative (GRI)” standards. Findings The results confirm the presence of a positive effect of the legal obligation for ESG reporting on the quality of environmental reporting of Moroccan industrial listed companies. However, the degree of compliance with the GRI framework remains incomplete. Originality/value This study helps to highlight the effectiveness of regulatory measures in improving the disclosure of relevant corporate environmental reporting of listed companies. The study also provides an overview of the progress made in implementing quality environmental reporting standards, specifically the GRI framework, in a developing country, namely, Morocco.

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环境、社会和公司治理报告的法律义务与环境信息披露实践的质量：摩洛哥上市工业公司案例

本文旨在研究摩洛哥资本市场管理局（AMMC）于2019年引入的环境、社会和治理（ESG）报告法律义务对卡萨布兰卡证券交易所（CSE）工业上市公司环境披露实践的影响。结果结果证实，环境、社会和公司治理报告的法律义务对摩洛哥工业上市公司的环境报告质量产生了积极影响。本研究有助于突出监管措施在改善上市公司相关企业环境报告披露方面的有效性。本研究还概述了一个发展中国家，即摩洛哥，在实施高质量环境报告标准，特别是《全球报告倡议》框架方面所取得的进展。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.