基于重点排污单位的上市公司环境信息披露现状分析

本文选取264家母公司属环保部门公布的重点排污单位的上市公司作为研究对象,将样本企业在2016年年报、2017年半年报及2016年度社会责任报告等定期报告中披露的环境信息,对照上市公司年报与半年报中环境信息披露的要求与规范,对上市公司环境信息披露合规性进行评估。评估认为:上市公司通过定期报告披露环境信息在形式上和内容上均有所进步,但距离基本的形式上合规披露仍有显著差距,信息披露的全面性、有效性与针对性更远远不能满足强化环保监管与优化资本市场的目标本意与政策需求。基于上述评估结果与发现的问题,本文提出了制定管理办法与技术导则、提升政策层级与规范披露标准,强化部门协作等政策建议。     

Making sense of environmental accounting

Much as Total Quality Management (TQM) has helped companies decrease waste and enhance value, environmental accounting offers an approach and a suite of tools that can help organizations improve both environmental quality and bottom-line business performance. Its focus is to bridge the world of finance and economics with the world of environmental management. Companies in all sectors have discovered that they can increase profits by meeting and even surpassing environmental regulations. Through environmental accounting, companies can discover more of these opportunities and, ideally, bring environmental concerns earlier into planning, decision making, and operations. This article introduces environmental accounting and some basic principles that should guide organizations' thinking on environmental accounting and environmental accounting systems. It also describes several different objectives for environmental accounting that imply different requirements and orientations. Although the focus of this article is on environmental accounting as an aspect of forward-looking management and decision making in companies, much of the discussion applies to nonprofits and government units as well.     

Environmental practices of governance of companies in emerging markets: An analysis of structural relationships

The aim of this study is to analyze the structural relationships between strategy, environmental performance, and disclosure in view of the lack of research on these endogenous activities. To analyze these relationships, an environmental governance proxy consisting of five dimensions was developed for Brazilian companies. Hence, from an economic perspective, a trend is expected of companies disclosing more information and maintaining an environmental governance structure to avoid or reduce potential political costs. Using the structural equation technique, 573 Brazilian companies were analyzed. According to the results, the Brazilian companies’ mean compliance level with environmental governance practices is 49.2%. There is evidence of a positive association between the governance structure and the environmental management system (GSEM) as well as environmental performance (EP) and environmental disclosure levels (DISC). In addition, the level of environmental conflicts of interest a sector faces increased the need for environmental disclosure. Furthermore, the results demonstrate that the latent variables, GSEM and EP, exert direct and indirect positive effects on DISC. In other words, companies with more structured environmental management systems have obtained better performance indicators, and consequently, are more likely to feel encouraged to disseminate environmental information and to reduce political costs than is the case with other companies.     

Environmental accounting—making it work for your company

There is no simple recipe for success in implementing environmental accounting. Day-to-day needs and strategic objectives will determine how an organization can benefit from environmental accounting. Our previous article listed many potential applications of environmental accounting and discussed common environmental accounting objectives.¹ This article is geared toward organizations that want to start implementing environmental accounting and create a foundation of success on which to build. In this context, the questions are (1) What are some logical starting points? and (2) Where do companies go from there? This article first describes some paradigms that may guide companies as they think about how to implement environmental accounting, then it presents a series of critical activities that are needed to make environmental accounting an integral part of ongoing business management functions.     

Instruments and strategies to improve the eco-efficiency of products

This article examines what tools can be used to analyze and improve the environmental performance of a product. It discusses how companies can upgrade the environmental performance of products in a cost-effective way and enhance their competitive position in the market through product innovation. Based on current examples, it is concluded that a complete toolbox is available to assist companies in developing more eco-efficient products. Which combination of practices can best be applied depends on various factors, particularly the type of external demand(s) the company is facing, its available resources, its time horizon, and its environmental strategy. Experience shows that it is better for companies to be ahead of external criticism and act more proactively. This article shows how companies can follow four main strategies in which eco-efficient product development goes hand in hand with a better competitive position in the market: (1) an efficiency improvement strategy; (2) a market share improvement strategy; (3) a market development strategy; and (4) a product diversification strategy. Finally, the importance of product innovation is stressed in order to implement the eco-efficiency strategies mentioned above.     

于GRI体系的机场企业环境信息披露研究

机场作为民航运输的关键节点和重要枢纽,肩负着服务区域经济的重要使命,同时也面临环境保护与可持续发展的巨大挑战。作为公共基础设施和城市形象窗口,机场上市公司具有披露环境信息的义务与责任。在充分研究国内机场上市公司环境信息披露制度背景的基础上,本研究借鉴全球报告倡议组织（GRI）发布的《可持续发展报告指南》（第四版）及机场运营者行业补充（GRI-AOSS）构建了适用于我国机场的环境信息披露评价指标体系,并利用公开数据对国内6家机场上市公司的环境信息披露情况进行了实际测评。结果表明：我国机场环境信息披露程度较低,存在内容简单、量化不足、质量下降等问题。机场上市公司环境信息披露亟待在法律法规层面进行系统规范。建议借鉴GRI等相关国际标准及成功经验,制定适用于我国的科学可行的环境信息披露标准和制度体系。     

上市公司环境信息披露调查研究——基于公司高管的访谈

上市公司高管态度对企业环境信息披露会产生重要影响。为充分了解企业高管如何看待上市公司环境信息披露过程中涉及的环境信息沟通、披露制度、能力建设等多方面问题，本文对涉及第一、第二和第三产业的16家上市公司高管进行访谈调研。研究发现，多数高管视社会第三方机构对企业的环境信息需求为较大的潜在风险，非强制是上市公司环境信息选择性披露的主要原因，企业重视环保投资但信息公开能力建设不足，环境信息公开对企业价值影响较弱。本文提出编写环境信息公开指南及实施细则，提升企业环境信息公开的能力建设，拓展政府和社会组织对企业环境信息公开的奖励形式等建议。     

Does environmental compliance pay?

This paper examines the relationship between environmental compliance and financial performance of large US companies. The environmental performance is measured in penalties assessed for violations of environmental regulations. The financial performance is represented by the profit margins. The regression models developed in this paper suggest that the degrees of environmental compliance have a positive influence on the profit margins. Conventional economic wisdom is that regulations impose costs and restrictions and therefore put companies at a competitive disadvantage. However, this paper is consistent with the proponents of environmental regulations who argue that tough regulations force companies to be innovative and as a result make them more productive.     

Environmental management in the pharmaceutical industry: integrating corporate responsibility and business strategy

International pharmaceutical companies are becoming increasingly proactive in their approach to environmental management, and the results so far are impressive. The forces that affect the global pharmaceutical industry will most likely push these companies toward even greater commitments to environmental improvement and, ultimately, sustainability. © 2000 John Wiley & Sons, Inc.     

Managerial conceptions of environmental responsibility

Summary In order for business and industry to exercise environmental responsibility in their daily operations and practices, it is necessary for company personnel at all levels to be aware of and committed to the implementation of environmental policies. This study used a phenomenographic approach to explore different ways in which company executives understand and apply environmental responsibility in their managerial roles. Ten senior managers located in three large industrial companies were interviewed and encouraged to express their own interpretation of the phenomenon of environmental responsibility. Four distinct conceptions emerged from the data which differ according to the preferred methods of expressing environmental responsibility within a business setting and the perceived motivations underlying corporate environmental action.Environmental responsibility may be conceived as: (1) an internal proactive undertaking by the company; (2) a reactive response to external community pressures; (3) a negotiated responsibility based on balance and compromise between competing demands; or (4) a collective responsibility involving cooperation amongst companies, government and the wider community. These findings provide a realistic perspective on the phenomenon of management behaviour towards the environment. They form the basis for development of education programmes which will assist managers to adopt and implement environmentally responsible practices within their companies. Further research to extend this knowledge base is recommended.     

Are EMS environmentally effective? The link between environmental management systems and environmental performance in European companies

Based on the analysis of a large dataset on the environmental performance of European companies in five industrial sectors, this paper examines the question of whether the presence of an environmental management system (EMS) has a positive impact on the eco-efficiency of companies. It begins with a review of evidence about the link between EMS and environmental performance in business organisations, finding that, despite much research, there is still little quantitative evidence. The second part of the paper uses three independent statistical methods (simple correlations, Jaggi-Freedman indices and a ‘trend differences’ approach) to assess whether companies and production sites with EMS perform better than those without and whether performance improves after an EMS has been introduced. The paper shows that there is currently no evidence that EMS have a consistent and significant positive impact on environmental performance. Policy action based on the simple assumption that companies with an EMS perform better than those without therefore seems inappropriate.     

A study of compliance with environmental regulations of ISO 14001 certified companies in Korea

This article investigates the impact of ISO 14001 certification on the compliance with environmental regulations by Korean companies. The impact of ISO 14001 certification on the industry was studied through a questionnaire survey and the compliance of environmental regulations were investigated using government-released data. The motivation for an environment management system was a result of the current international situation and the need to maintain fair competition. ISO 14001 certification has been recognized as an essential strategy for industrial competition and to improve company/product recognition. The certified and non-certified companies' environmental regulation violation (ERV) rates were 3.5% and 11.6%, respectively, in 1997. In 1998, the ERV rate had an eight-time difference with 1.0% and 8.5% for certified and non-certified companies, respectively. Annual regulation violation rates were reduced from 3.5% in 1997 to 1.0% in 1998 with certified companies and from 11.6% in 1997 to 8.5% in 1998 with their non-certified counterparts, respectively. ISO 14001 certified companies showed more improvement than non-certified companies in regards to environmental performance.     

Voluntary environmental management system standards: Case studies in implementation

Many anticipate that over the next decade, voluntary environmental management system (EMS) standards will take on the same importance in the marketplace as the ISO 9000 quality standards; the draft international EMS standard (ISO 14001) is on pace to be completed by mid-1996. In the United States, despite rapidly growing interest in EMS standards, most companies and regulatory agencies are uncertain about their potential benefits and about the process of developing an EMS. Case studies of EMS implementation, particularly in small and medium-sized companies, are needed to demonstrate the process and identify areas in which further EMS guidance is needed for environmental managers. This article presents seven case studies of EMS implementation in small, medium-sized, and large companies. Each company is participating in an EPA-sponsored Demonstration Project in which a variety of organizations are piloting the implementation of EMS standards (the project is being coordinated by NSF International, a not-for-profit company specializing in environmental and public health standards and certification). The case studies, written by the companies themselves, share experiences of EMS assessment, planning, and implementation, and discuss challenges that are special to particular industries.     

Can ISO 14063 be a tool to plan the environmental communication strategy of a territorial area?

Over the past two decades, communication on environmental values, actions and performance has become an essential activity of organisations, because of the increased public concern and legislation related to the environment.

Stakeholders put pressure on companies to take environmental responsibility. In this framework, an effective environmental communication can generate value-added on companies' environmental work, and consequently, their competitiveness and profitability can benefit from communicating their environmental responsibility.

In 2006, the International Organization for Standardization (ISO) launched a standard for environmental communication, ISO 14063. ISO 14063 should not be used for third-party certification purposes. Instead, it is intended to be used as a guideline and support companies to ensure successful environmental communication. The aim of this paper is to prompt a discussion about the applicability of the standard ISO 14063 not only to single organisations but as a tool to plan the environmental communication strategy of a whole territorial area. This is achieved by performing a case study relating to the Interreg IVC-funded project “Progresland”. The project involved three Italian and one Spanish natural areas and demonstrated that ISO 14063 could be a valid support to define and implement an environmental communication plan for a territorial area.     

Mixed methodology to analyze the relationship between maturity of environmental management and the adoption of green supply chain management in Brazil

The aim of this research is to verify the relationship between the maturity levels of environmental management and the adoption of green supply chain management (GSCM) practices by electro-electronic companies in Brazil. In this work a two-phase research was conducted, with one quantitative and the other qualitative. The quantitative phase aimed to test whether a relationship between the maturity levels of environmental management and GSCM exists, while the qualitative phase tried to detail the characteristics of this relationship. The quantitative phase was conducted through a survey with 100 Brazilian electro-electronic companies and the collected data were processed using Structural Equation Modeling. For the qualitative phase, a multiple case study was conducted with three companies located in Brazil. The results indicate that: (1) The main hypothesis was confirmed and considered statistically valid, indicating that, indeed, the maturity level of environmental management influences the adoption of GSCM practices; (2) a coevolution tends to occur between the environmental maturity and the GSCM practices; that is, the more developed is the company's environmental management, more complex GSCM practices are adopted; and (3) the GSCM internal practices tend to present a greater relative adoption than the external practices; these external practices of GSCM tend to be adopted when the company is inserted in a higher environmental stage and/or operates under a scenario of stronger normative environmental pressure. By the way, this is the first research mixing survey and case studies on GSCM in Brazil.     

Designing metrics that fit: Rethinking corporate environmental performance measurement systems

If you don't measure it, you can't manage it. Over the past decade, many companies have recognized this need to track environmental performance. Failure to plan metrics systems to fit organizational needs, work flows, and culture has left many companies with costly and ineffective environmental performance measurement systems. This article presents numerous practical steps for designing effective metrics systems which avoid common pitfalls.     

A SWOT analysis of environmental management practices in Greek Mining and Mineral Industry

Over the last two decades, mining and mineral exploration companies have adopted various environmental management practices in response to society’s pressure for better environmental protection. The literature highlights a number of benefits and challenges for companies adopting environmental management practices with the Greek Mining and Mineral Industry (GMMI) facing similar issues. In order to analyze the challenges faced by the GMMI, a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis was conducted, which examined the strengths, weaknesses, opportunities and threats faced by the industry when adopting environmental management practices. The analysis prescribes policy recommendations both for the government and industry which, if adopted, could facilitate improved environmental performance.     

How do green charges transform industrial behaviour? An explorative case study of institutionalisation and transition in post-Communist Poland

Based on three explorative case studies of industrial environmental practices in Poland, this paper examines how green charges alter the situated knowledge of companies' environmental managers. The study illustrates that following the Communist collapse, companies began to take the environmental authorities seriously because more severe enforcement and higher levels of green charges were implemented. However, the study also develops the hypothesis that environmental managers' comprehension of environmental problems is determined by the chemicals imposed with a duty.     

推动环境信息披露能改善投资效率吗？

落实企业环境责任,推动环境信息披露,有利于推动结构调整和高质量发展。本文根据《环境信息公开办法（试行）》,对发布企业社会责任报告的上市公司环境信息披露进行刻画,基于Richardson投资期望模型对投资效率进行测度,分析环境信息披露对上市公司投资效率的影响。研究发现,环境信息披露能在一定程度上缓解投资不足,但对过度投资的影响并不显著,而且环境信息披露对投资不足的缓解作用在国有企业、两权分离度高等代理成本较高的企业中表现更为显著。本文因此提出推动环境信息披露的建议,一方面发挥政府作用,加大监管压力,确保企业环境责任的落实,健全环境治理企业责任体系;另一方面发挥市场的决定性作用,强化诱致企业披露环境信息的动力,让市场形成对环境信息披露的强需求,促使企业提升环境信息披露水平。