Adaptation of Climate-Related ESG Reporting to Legal Requirements: Evidence from Polish Energy Companies
Purpose: The purpose of this article is to assess the compliance of climate-related information disclosed in the ESG reports of Polish listed companies in the energy sector with current legislative requirements. Design/Methodology/Approach: The research methodology was based on a critical analysis of the literature and a comparative analysis in time and space of ESG reports published by selected Polish companies in the energy sector listed on the Warsaw Stock Exchange. The study was qualitative in nature, using multiple case studies and applying content analysis and comparative methods. Findings: The results indicate that the current legal regulations at both the national and European levels have significantly contributed to the systematization of disclosures relating to the impact of the entities under study on the climate. This allows for the ongoing monitoring of companies' impact on the climate and facilitates its interpretation. However, the diversity of the entities surveyed in terms of the scope of services provided, their impact on the climate, including the risks involved, and thus their needs in terms of transformation for climate mitigation, does not allow for direct comparisons of the impact of these entities on the climate. Practical Implications: The article presents a systematic review of the literature and legal acts concerning the disclosure of information on climate impact and reviews the practices applied by the surveyed Polish listed companies in the energy sector. The study is pilot in nature and aims to determine the degree of preparedness of the surveyed entities to disclose information on their impact on the climate. Despite the relatively long study period, the analysis did not cover the reports of all entities in the energy sector, but only those of the leading ones. The limitations introduced at the stage of selecting the research sample do not allow the results to be generalized to all energy companies. This limitation provides a basis for further research in this area. Originality/Value: The results of the study highlight the need for further analysis of the issue of reporting the impact of companies on the climate, with particular emphasis on the compliance of disclosures with legal requirements.