Disclosure of Circular Economy Activities and Sustainable Development Goals in Sustainability Reporting: Evidence for Pharmaceuticals and Biotechnology Companies
Master thesis
Permanent lenke
https://hdl.handle.net/11250/3172217Utgivelsesdato
2024Metadata
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Sammendrag
This thesis examines how pharmaceutical and biotechnology companies disclose Circular Economy (CE) activities and align with the United Nations Sustainable Development Goals (SDGs) in their sustainability reports. As sustainability becomes a central concern, the study explores how firm size, geographical location, and stakeholder pressures influence these disclosures.The findings indicate mixed results regarding circular economy and SDG disclosures. While companies, especially those in OECD countries, report on certain circular economy practices, such as recycling and reduction, there is an overall inconsistency in circular economy and SDG disclosures across firm sizes and regions. Small and medium-sized enterprises (SMEs) report less on these activities and are less likely to disclose key SDGs, such as 7, 8, and 13. Probit Regression analysis further highlights that while firm size and location influence disclosure practices, circular economy and SDG reporting remain uneven. SMEs often face challenges due to resource limitations and varying stakeholder expectations.The study concludes that more robust policy frameworks are needed to promote broader circular economy adoption, particularly among smaller firms; thus, these should encourage voluntary sustainability reporting. Policymakers, investors, and stakeholders should encourage more comprehensive sustainability reporting. Future research should include a broader range of firms and regions to better understand global sustainability reporting practices.