Global Sustainability Reporting in the Automotive Industry via the eXtensible Business Reporting Language

Sustainability measurement has become one of the most important topics for automotive manufacturers. The financial reporting practice has been faced with an increased digitization and standardization process, which was enabled by the either voluntary or required implementation of the eXtensible Busi...

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Autores principales:	Árpád Tóth, Alex Suta
Formato:	article
Lenguaje:	EN
Publicado:	AIDIC Servizi S.r.l. 2021
Materias:	Chemical engineering TP155-156 Computer engineering. Computer hardware TK7885-7895
Acceso en línea:	https://doaj.org/article/e89de4d9ec694170aa9ba470bcb23f9a
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spelling	oai:doaj.org-article:e89de4d9ec694170aa9ba470bcb23f9a2021-11-15T21:47:09ZGlobal Sustainability Reporting in the Automotive Industry via the eXtensible Business Reporting Language10.3303/CET21881812283-9216https://doaj.org/article/e89de4d9ec694170aa9ba470bcb23f9a2021-11-01T00:00:00Zhttps://www.cetjournal.it/index.php/cet/article/view/11974https://doaj.org/toc/2283-9216Sustainability measurement has become one of the most important topics for automotive manufacturers. The financial reporting practice has been faced with an increased digitization and standardization process, which was enabled by the either voluntary or required implementation of the eXtensible Business Reporting Language (XBRL) platform. The obligatory adaption appeared in European legislation, which covers both financial, and non-financial information. In the current study, we have made a comparison of the most significant European and American automakers' sustainability reports data content to utilize the sustainability XBRL taxonomy adaptation. Using literature, the development of disclosure requirements was reviewed, following which the adaptation to global sustainability standards (GRI, SASB) in reporting was examined from a qualitative point of view, using a text mining methodology. It has been concluded that by the biggest automotive manufacturers the conditions are currently met to a limited extent, but the most significant obstacle is the lack of linking sustainability information to financial impacts. If the financial regulations require OEMs to adapt, and potentially disclose negative information (such as pollution data, penalties) may negatively affect investor perception. Based on the review XBRL is capable to become a global standard, however, reported contents should be carefully audited and linked to objectively verifiable financial data to provide relevant information to investors, decision-makers.Árpád TóthAlex SutaAIDIC Servizi S.r.l.articleChemical engineeringTP155-156Computer engineering. Computer hardwareTK7885-7895ENChemical Engineering Transactions, Vol 88 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Chemical engineering TP155-156 Computer engineering. Computer hardware TK7885-7895
spellingShingle	Chemical engineering TP155-156 Computer engineering. Computer hardware TK7885-7895 Árpád Tóth Alex Suta Global Sustainability Reporting in the Automotive Industry via the eXtensible Business Reporting Language
description	Sustainability measurement has become one of the most important topics for automotive manufacturers. The financial reporting practice has been faced with an increased digitization and standardization process, which was enabled by the either voluntary or required implementation of the eXtensible Business Reporting Language (XBRL) platform. The obligatory adaption appeared in European legislation, which covers both financial, and non-financial information. In the current study, we have made a comparison of the most significant European and American automakers' sustainability reports data content to utilize the sustainability XBRL taxonomy adaptation. Using literature, the development of disclosure requirements was reviewed, following which the adaptation to global sustainability standards (GRI, SASB) in reporting was examined from a qualitative point of view, using a text mining methodology. It has been concluded that by the biggest automotive manufacturers the conditions are currently met to a limited extent, but the most significant obstacle is the lack of linking sustainability information to financial impacts. If the financial regulations require OEMs to adapt, and potentially disclose negative information (such as pollution data, penalties) may negatively affect investor perception. Based on the review XBRL is capable to become a global standard, however, reported contents should be carefully audited and linked to objectively verifiable financial data to provide relevant information to investors, decision-makers.
format	article
author	Árpád Tóth Alex Suta
author_facet	Árpád Tóth Alex Suta
author_sort	Árpád Tóth
title	Global Sustainability Reporting in the Automotive Industry via the eXtensible Business Reporting Language
title_short	Global Sustainability Reporting in the Automotive Industry via the eXtensible Business Reporting Language
title_full	Global Sustainability Reporting in the Automotive Industry via the eXtensible Business Reporting Language
title_fullStr	Global Sustainability Reporting in the Automotive Industry via the eXtensible Business Reporting Language
title_full_unstemmed	Global Sustainability Reporting in the Automotive Industry via the eXtensible Business Reporting Language
title_sort	global sustainability reporting in the automotive industry via the extensible business reporting language
publisher	AIDIC Servizi S.r.l.
publishDate	2021
url	https://doaj.org/article/e89de4d9ec694170aa9ba470bcb23f9a
work_keys_str_mv	AT arpadtoth globalsustainabilityreportingintheautomotiveindustryviatheextensiblebusinessreportinglanguage AT alexsuta globalsustainabilityreportingintheautomotiveindustryviatheextensiblebusinessreportinglanguage
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Global Sustainability Reporting in the Automotive Industry via the eXtensible Business Reporting Language

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