Presentation of an Environmental Reporting Model: Based on the Global Reporting Initiative (GRI) Standards

Document Type : Original Article

Author

department of accounting, Kha.C., islamic azad university, khalkhal,iran

Abstract

Objective: In the present era, environmental responsibility is recognized as a fundamental component of corporate sustainability globally. However, companies listed on the Tehran Stock Exchange face significant challenges in disclosing environmental information, as there is no specific model for reporting these dimensions that aligns with global environmental reporting standards. The purpose of this research is to develop and propose a comprehensive model for disclosing various aspects of corporate environmental responsibility in annual reports, in accordance with the fourth generation of environmental reporting standards.
Methods: This study employs a descriptive survey method aimed at presenting an environmental reporting model for Iranian capital market companies. Initially, a study was conducted to develop a checklist for environmental reporting based on international guidelines and standards. Subsequently, a questionnaire was designed to assess the significance of the proposed items in the checklist. To validate this framework against the realities of the Iranian capital market, expert opinions were gathered, and Cronbach’s alpha coefficient was used to evaluate reliability. Additionally, exploratory and confirmatory factor analysis methods were employed to analyze structural validity and extract final components and indicators. The statistical population included university professors, managers of listed companies, and environmental responsibility experts, ultimately forming a sample of 286 informed respondents in the Iranian context in the year 2022.
Results: The findings indicate that environmental reporting should include key elements such as greenhouse gas emissions, energy consumption, wastewater and waste management, biodiversity, environmental protection costs and investments, water resources, and products and services.
Conclusion: The results of this study demonstrate that the proposed model for environmental reporting significantly enhances the transparency and accountability of companies concerning their environmental responsibilities. Listed companies must consider the environmental impacts of their activities in environmental reporting. The stock exchange organization should evaluate these reports and establish environmental information disclosure standards in Iran, ensuring that all companies are obliged to publish these reports.
Innovation: This study, for the first time, presents a comprehensive and localized fourth-generation environmental reporting framework for companies listed on the Tehran Stock Exchange, which, in addition to aligning with international standards, is adapted to the economic, cultural, and legal conditions of Iran.
 

Keywords

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Journal of Finance and Corporate Sustainability
Volume 1, Issue 1 - Serial Number 1
August 2025
Pages 129-152

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History

  • Receive Date: 07 March 2025
  • Revise Date: 14 April 2025
  • Accept Date: 14 April 2025
  • First Publish Date: 23 August 2025
  • Publish Date: 23 August 2025

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