Árpád Tóth
57215031756
Publications - 34
Dictionary-based assessment of European Sustainability Reporting Standard (ESRS) disclosure topics
Publication Name: Discover Sustainability
Publication Date: 2025-12-01
Volume: 6
Issue: 1
Page Range: Unknown
Description:
As the imperative for sustainable business practices and corporate responsibility has grown, the analysis and integration of Environmental, Social, and Governance (ESG) issues into corporate strategies has become a crucial aspect of business strategy. The paper assesses the ESG reporting preparedness of companies in the Central and Eastern European (CEE) region by analyzing their compliance with the European Sustainability Reporting Standards (ESRS). The study assesses the variability in disclosures across ESG pillars and examines their relationship with financial metrics using a test of independence and bootstrapped multiple regression. By employing an automated text analysis methodology on sustainability reports from top-performing companies, including Hungary, the Czech Republic, Poland, Austria, Slovenia, and Romania, the research identifies significant differences in reporting scores across various ESG disclosure topics. The results indicate that Climate Change (E1) scores are higher than those of other topics, suggesting an uneven emphasis on different aspects of sustainability. Furthermore, the analysis reveals that larger companies tend to achieve higher ESG scores, reflecting their greater resources for comprehensive and transparent reporting practices. The research contributes to the understanding of ESG reporting practices in the CEE region and highlights the importance of improvement in sustainability reporting to foster greater transparency and comparability. The findings suggest policy initiatives to encourage balanced reporting across all ESG topics and that companies, particularly smaller ones, could benefit from capacity-building efforts to enhance their reporting capabilities.
Open Access: Yes
ESG disclosure topics and reporting frameworks: exploratory research across automotive, construction, and energy industries
Publication Name: Discover Sustainability
Publication Date: 2025-12-01
Volume: 6
Issue: 1
Page Range: Unknown
Description:
Environmental, Social, and Governance (ESG) reporting and proper measurement of greenhouse gas emissions are becoming increasingly important for industries with substantial environmental impact. This research aims to assess the current state of ESG reporting practices and highlight areas for improvement across the automotive, construction and energy industries operating in the Central Eastern European (CEE) region. To achieve this aim, a multi-industry sustainability disclosure database was created and analyzed through a Python-based text-mining methodology, using term frequency-inverse document frequency and keyword-in-context analysis. The process involved extracting and preprocessing text from 60 sustainability reports for the year 2021, followed by constructing a custom dictionary of key ESG terms aligned with the European Sustainability Reporting Standards. The findings reveal considerable variance in the focus of qualitative disclosures across industries, particularly regarding climate change and biodiversity. The investigation underscores the need for enhanced transparency, consistent metrics, and rigorous validation in ESG reporting. The study also provides new insights into the technical possibilities of automated text analysis for sustainability reporting in the CEE region, and highlights key areas where improvement appears necessary.
Open Access: Yes
Measuring Corporate Compliance with the SDGs Based on the GRI’s ESG Reporting Methodology
Publication Name: Journal of Sustainability Research
Publication Date: 2025-01-01
Volume: 7
Issue: 1
Page Range: Unknown
Description:
Background: This research examines the efficiency of ESG reporting in corporate contributions toward achieving the SDGs, relative to the literature gaps and sectoral differences in reporting practices. It also highlights that full ESG disclosure is invariably instrumental in ensuring corporate transparency and accountability. Methods: The study used the GRI framework to analyze SDG compliance in sustainability reports from companies in the technology, automotive, energy, and health sectors. Results: Key findings include significant variations in SDG compliance across industries: the automotive sector demonstrated the highest compliance at 85%, while the technology sector showed the lowest at 49%. The study also found a notable difference between reported and substantiated SDGs, indicating that many companies engage in ‘rainbow washing’ or ‘cherry-picking’ SDGs to fit their agendas without fully integrating them into their strategies. The research concludes that although the GRI framework provide. Conclusions: The study urges the combination of other standards, such as ESRS and SASB, together with more intense regulatory frameworks and industry-specific guidelines to increase comparability and the credibility of the reports on sustainability.
Open Access: Yes
DOI: 10.20900/jsr20250010
Strategic integration of residential electricity: An optimisation model for solar energy utilisation and carbon reduction
Publication Name: Energy
Publication Date: 2024-11-30
Volume: 310
Issue: Unknown
Page Range: Unknown
Description:
The Solar Combined Cooling, Heating, and Power (S-CCHP) system, distinct from traditional centralised generation, provides clean energy solutions by installing user-side renewable energy capture facilities like solar panels to address the energy crisis and mitigate global warming. Previous research on the design of S-CCHP for buildings has often emphasised self-sufficiency, with less focus on the role of these systems as energy suppliers on the market. However, it is feasible to install scaled-up solar facilities that generate enough power to export to the grid, reducing grid pressure and enhancing the renewable energy mix. This study analyses the optimal design deployment for electricity within the S-CCHP system, based on the Renewable Energy System for Residential Building Heating and Electricity Production (RESHeat) system installed in Limanowa. It aims to optimise owner energy deployment by strategically integrating electricity generation, hybrid storage, and the electricity market to maximise owner benefits. A Life Cycle Assessment is also conducted to explore greenhouse gas emissions across scenarios with different storage facilities and reuse rates. Results show that the optimal deployment of 264 PV panels, each with a rated power of 440 W, generates 105 MWh annually, resulting in the surplus of 90.18 MWh with a selling price of 115 EUR/MWh. Vanadium redox flow batteries offer the highest revenue (4922.01 EUR) with the lowest storage costs, while lithium-ion batteries have the lowest carbon emissions (1.22 t CO2 eq/y). Sensitivity analysis and revenue break-even analysis are further conducted to assess the robustness and financial viability.
Open Access: Yes
Operational optimisation of integrated solar combined cooling, heating, and power systems in buildings considering demand response and carbon trading
Publication Name: Energy Conversion and Management
Publication Date: 2024-09-01
Volume: 315
Issue: Unknown
Page Range: Unknown
Description:
The Solar Combined Cooling, Heat, and Power (S-CCHP) system offers a promising solution to the energy crisis and environmental concerns. Its operation optimisation is essential due to intermittent solar irradiation. However, previous studies have concentrated on the “electricity-heating” subsystem and economic costs, with less emphasis on the integrated system's broader benefits and environmental impact. This study introduces an operational optimisation approach across “electricity-heating-cooling-gas” subsystems based on the design extension of the Residential Building Heating and Electricity Production (RESHeat) system. Specifically, the approach optimises operation from both the demand and supply sides, incorporating the demand response (DR) and Ladder Carbon Trading (LCT) on the demonstration in Limanowa, Poland, to balance economic and environmental impacts. The results show that the optimised electricity is reduced by 0.71 % per day while heating and cooling demands rise by 0.57% and 0.91%. PV/T panels provide 87.11% of electricity, with excess sold back to the grid in summer. DR combined with LCT in the extension design contributed to cutting costs by 16.15 % and CO2 by 57.79% compared with the initial design, underscoring the efficacy of collaborative operational in enhancing both economic and environmental performance.
Open Access: Yes
Sustainability accounting for greenhouse gas emissions measurement using the GREET LCA model: practical review of automotive ESG reporting
Publication Name: Clean Technologies and Environmental Policy
Publication Date: 2024-05-01
Volume: 26
Issue: 5
Page Range: 1631-1642
Description:
The production and personal use of passenger vehicles contribute significantly to greenhouse gas (GHG) emissions, making personal transport a major contributor. In response to increasing pressure from regulators and consumers to lower emissions, original equipment manufacturers (OEMs) have introduced alternative powertrains, such as battery electric vehicles (BEVs). To assess the economic and environmental feasibility of BEVs, OEMs conduct various life cycle assessment (LCA) approaches as part of their internal management practices. However, the public presentation of their results is often ambiguous and of unverifiable quality. This study conducts a review of sustainability impact reporting using the GREET model, which is based on the total vehicle life cycle. The paper provides a summary of the input data requirements for validating emissions from both the fuel and vehicle cycles as part of the proposed model. The availability of the model components was tested against actual public corporate environmental, social and governance reporting disclosures of the largest global automotive OEMs, indicating a deficit in the public presentation of essential sustainability information. The implications of the research suggest that LCA models could benefit sustainability accounting by incorporating proper tagging during accounting practices and taking advantage of digital accounting and reporting practices such as the extensible business reporting language (XBRL). By further developing the model, sustainability reporting can benefit from its structure and workflow, thus ensuring improved information validity for stakeholders. Graphical abstract: (Figure presented.)
Open Access: Yes
Towards Predicting Business Activity Classes from European Digital Corporate Reports †
Publication Name: Engineering Proceedings
Publication Date: 2024-01-01
Volume: 79
Issue: 1
Page Range: Unknown
Description:
Digital financial reporting enables automated analyses on vast datasets. This study illustrates the benefits of integrating XBRL and machine learning. XBRL, an open-source financial reporting language, was used to create a unified database of over 5600 IFRS-tagged reports. The IFRS taxonomy tags containing textual data on company activities were analyzed using the Zero-Shot Learning algorithm to identify specific activities. This study highlights how digital reporting and machine learning can extract and analyze textual data, offering insights into company activities and demonstrating the potential of these technologies in financial reporting.
Open Access: Yes
Economic Analysis of Electric Vehicle Manufacturers: a Comparative Study
Publication Name: Chemical Engineering Transactions
Publication Date: 2024-01-01
Volume: 114
Issue: Unknown
Page Range: 937-942
Description:
This study investigates the market dynamics of Tesla and NIO in the electric vehicle (EV) industry, with a focus on NIO's innovative Battery as a Service (BaaS) model and its pricing strategy. While NIO’s competitive pricing attracts buyers, the study reveals that its low vehicle and battery prices negatively impact profitability. The research also identifies NIO's recent market share decline and the challenges posed by its pricing model. From a sustainability perspective, the study highlights the significant freshwater usage in the manufacturing processes of both Tesla and NIO, stressing that this places a strain on local water resources. To contribute meaningfully to emission reduction, the optimization of water recycling and energy efficiency in manufacturing is crucial. The analysis provides insights into NIO's declining market share and offers suggestions for future market participation.
Open Access: Yes
DOI: 10.3303/CET24114157
Environmental tax reform efficiency: Prerequisites and consequences
Publication Name: Journal of International Studies
Publication Date: 2024-01-01
Volume: 17
Issue: 4
Page Range: 90-108
Description:
Ensuring green transformations of the national economy requires the careful development of effective mechanisms for influencing the behaviour of key stakeholders who impact the environment. Implementing environmental tax reforms (ETR) to balance environmental and economic effects was successful for many European countries. Adapting this experience for developing countries requires considering the impact of national specifics on the expected result. In the first stage, the key consequences of the ETR implementation were assessed using the Differences-in-Differences method. In the second stage, the impact of economic, social, technological and institutional factors on the result of the ETR implementation was tested using panel regression modelling. The calculations showed that the positive effect of increasing the security of the national economy due to the ETR implementation occurs with a relatively long time lag. This indicates that ETR should be considered a strategic instrument for regulating the national economy and developed for the long term, supported by tactical operational tools. At the same time, the most significant manifestations of ETR are observed in the context of their impact on business activity and foreign trade. The key prerequisites for ensuring the ETR's effectiveness are the role of the fiscal and budgetary system, the welfare and gender equality of society, the spread of digital technologies among the population and the rule of law.
Open Access: Yes
The development of the European Union auditing research over the past decade: a systematic literature review and future research opportunities
Publication Name: Journal of Financial Reporting and Accounting
Publication Date: 2024-01-01
Volume: Unknown
Issue: Unknown
Page Range: Unknown
Description:
Purpose: The purpose of this study is to provide a systematic review of research development on auditing in the European Union over the past decade and suggest future research directions. Design/methodology/approach: Following the PRISMA protocol, the authors systematically reviewed the relevant literature and conducted a qualitative content analysis of 107 studies on auditing in the European Union published between 2012 and 2023. Findings: The results indicate increased auditing literature in the European Union from 2012 to August 2023. Around 40% of the papers were focused on six nations: Germany, Spain, Italy, the UK, Sweden and France. Additionally, 35.5% of papers have been published in three major journals: Accounting in Europe, International Journal of Auditing and the European Accounting Review. Moreover, 82.24% of papers used quantitative methods, with a few using qualitative or mixed methods. Also, most of the studies in the sample endorsed the European Union’s auditing reforms, which included implementing a cap on nonaudit fees and enhancing the independence of audit committees. Contrary to this viewpoint, multiple studies have expressed disagreement with enforcing a total prohibition on nonaudit services, as certain services can enhance auditing quality. Similarly, other studies have contested the necessity of mandatory auditor rotation every 10 years, citing the significant additional expenses associated with this practice. Finally, further studies supported the European Union’s decision to make the joint audit voluntary, as it is related to high audit fees and low audit quality. Research limitations/implications: The limitations of this research primarily stem from the authors’ choices in selecting the database and defining the criteria for searching the studied papers. Practical implications: This paper offers valuable insights into the future research prospects in the European Union’s auditing field. Hence, this analysis can be helpful for researchers and practitioners in developing this field based on future research recommendations and the identified themes. Originality/value: To the best of the authors’ knowledge, this paper is the first study to systematically review the developments of the European Union auditing literature over the past decade.
Open Access: Yes
A comprehensive, semi-automated systematic literature review (SLR) design: Application to P-graph research with a focus on sustainability
Publication Name: Journal of Cleaner Production
Publication Date: 2023-08-20
Volume: 415
Issue: Unknown
Page Range: Unknown
Description:
Because of the vast number of academic products with focus on sustainability being currently generated, it is becoming exceedingly difficult and time-consuming to perform accurate literature reviews that have actual relationship with such a topic and correctly reflect its state of the art. Thus, this work proposes a comprehensive Systematic Literature Review (SLR) design as a novel approach for collecting the body of contributions for any given research field in general and sustainability in particular. This design is guided by a semi-automated procedure that aims at incorporating the best automation features of earlier SLRs and involves available scientific databases, e.g., Scopus and Web of Science. The results of the proposed SLR design include bibliometric analyses, a list of researcher and institution networks, and a qualitative assessment of practical applications of the field of interest. Moreover, the proposed semi-automated approach allows for the inclusion of subject categorization based on the generation of author-density maps and keyword co-occurrence networks. For illustration, the semi-automated SLR design is implemented by thoroughly reviewing the contributions pertaining to the P-graph (Process Graph) framework with a focus on sustainability. The P-graph framework has been applied to multiple areas, such as network design, optimization, and system integration; in particular, the framework has proven to be useful for the development of sustainable systems. Upon execution, the semi-automated SLR design collected 284 contributions related to P-graph, of which 139 were classified as sustainability-related, and further partitioned into specific categories. It is expected that the proposed semi-automated SLR design will help researchers in the sustainability community accelerate the generation of works in that area by rapidly generating accurate literature reviews.
Open Access: Yes
Towards the resilience quantification of (military) unmanned ground vehicles
Publication Name: Cleaner Engineering and Technology
Publication Date: 2023-06-01
Volume: 14
Issue: Unknown
Page Range: Unknown
Description:
In the case of Unmanned Ground Vehicles (UGVs), resilience can be an economical, an environmental, but most importantly, a mission-critical question as well: mission failure caused by the lack of resilience in some cases might imply the loss of the UGV, which could lead to human and financial losses and environmental damage. Thus, the aim of this article is to provide a methodology for UGV resilience analysis by introducing a generalizable method that can be applied both for complete UGV systems and subsystems, and leads to resilience quantification. After proposing a specific resilience definition for UGVs, this article proposes a method for UGV resilience assessment using process graphs, created based on the system components and the expected behavior of UGVs. To provide a context for the introduced solution, existing methods applied for UGV resilience assessment are briefly mentioned. The application of the proposed method is showcased on the perception subsystem of a UGV, finalized with the evaluation of the achieved results.
Open Access: Yes
Systematic review on blockchain research for sustainability accounting applying methodology coding and text mining
Publication Name: Cleaner Engineering and Technology
Publication Date: 2023-06-01
Volume: 14
Issue: Unknown
Page Range: Unknown
Description:
Blockchain and other Distributed Ledger Technologies (DLTs) are often considered major improvements in the capability of certain areas in sustainability accounting research. As such, it is argued that blockchains could be used for validation, data management, transactions settlements and objective measurement for corporate sustainability indicators, such as Greenhouse Gas (GHG) emissions during production processes. Following a Systematic Literature Review (SLR) methodology in data collection and database formation, the current work provides an analysis of the existing literature consisting of 59 contributions on blockchain applications in sustainability accounting. Several analysis steps containing bibliometric analyses were performed and presented, including novel coding of methodologies and industrial applications. Additionally, text mining analysis of the meta-data of contributions was conducted for the purpose of topic generation and retrieval of comparative insights. Results provide insights into the mapping of baseline technologies, regulatory environment, and practical factors outlined by previous contributions that influence the applications of blockchains for this cause. Future research areas include blockchains paired with other future-proof technologies, such as digital accounting tools (e.g. XBRL) or hardware IoT technologies in smart factories, to aid in the development of new pipelines of measurable and traceable sustainability information.
Open Access: Yes
Overview of XBRL Taxonomy Usage for Structured Sustainability Reporting in European Filings
Publication Name: Chemical Engineering Transactions
Publication Date: 2023-01-01
Volume: 107
Issue: Unknown
Page Range: 577-582
Description:
The increasing requirement for businesses to disclose sustainability information digitally has prompted significant changes in the content and format of Environmental, Social, and Governance (ESG) disclosures. However, companies mandated to adapt to these changes face technological and information challenges regarding ‘what’ and ‘how’ to report. For European filers, the Corporate Sustainability Reporting Directive (CSRD) and its requirements, the European Sustainability Reporting Standards (ESRS), along with the International Financial Reporting Standards (IFRS S1 and S2), propose the use of the eXtensible Business Reporting Language (XBRL) as the anticipated technical solution for the digital data structure. The objective of this paper is to provide a methodological framework for effectively navigating the complex and interrelated concepts relevant to stakeholders. Rather than relying on cumbersome textual guides, this framework leverages an examination of existing taxonomies to offer readers insights into the essential glossary of disclosures and metrics considered crucial by official regulatory sources. Furthermore, the research discusses the emphasis on qualitative and narrative disclosures in ESG reporting and their feasibility of comparable results. Employing this methodology facilitates the implementation of corporate case studies and enables the analysis of mass amounts of future annual reports for comprehensive sustainability performance measurement.
Open Access: Yes
DOI: 10.3303/CET23107097
The Vision that Carries the Digital Transformation on Its Back—The Promises of 5G for Sustainability and for the Corporate Sector Focusing on the SMEs in Hungary
Publication Name: Springer Proceedings in Business and Economics
Publication Date: 2023-01-01
Volume: Unknown
Issue: Unknown
Page Range: 119-144
Description:
Digital transformation, including emerging telecommunication technologies, can be a game changer in the case of SMEs. 5G technology paves the way to substitute different expansive communication technologies, becoming the backbone of i4.0 solutions. Although companies declare the importance of digital transformation, 5G is not necessarily part of it. Especially, SMEs are uncertain about 5G. This paper highlights the business model opportunities and benefits of utilizing this disruptive technology. We analyze the 5G awareness of Hungarian SMEs based on a survey targeting their digital transformation. Hungarian SMEs have significant unawareness regarding the technical issues and the business manners as well. Providing information and guidance based on governmental funding is expected and required.
Open Access: Yes
AMERICAN VERSUS DOMESTIC DIGITAL COMPANIES IN THE CHINESE MARKET
Publication Name: Decision Making Applications in Management and Engineering
Publication Date: 2022-10-01
Volume: 5
Issue: 2
Page Range: 120-139
Description:
The digital economy has become an increasingly important part of the world economy. It is vastly concentrated in two economies, namely, the United States and China. The main aim of our study is to investigate Chinese digital companies and government policy enabling the rapid development of the country’s digital economy and the largest American digital companies’ performance in the Chinese market. Our findings show that the largest American digital companies, which are globally active players, usually have a very limited market share in different segments of the Chinese digital economy or have been forced to leave the Chinese market after a short period of operation. In the future, Chinese government policy will continue to ensure the priority role of domestic digital companies in the upgrading and structural transformation of the Chinese economy driven by services, high-tech sectors, and consumption while limiting the role of American digital companies.
Open Access: Yes
Interrelation between the climate-related sustainability and the financial reporting disclosures of the European automotive industry
Publication Name: Clean Technologies and Environmental Policy
Publication Date: 2022-01-01
Volume: 24
Issue: 1
Page Range: 437-445
Description:
The financial reports of the automotive companies' are measured in a standardized manner; therefore, they are transparent and comparable to each other, but this is not valid for the sustainability reports and it is not possible to compare their sustainability performances. Standard-setting organizations are currently searching for better reporting procedures. This study aims to investigate the connection between sustainability and financial reports for the most dominant European car manufacturers. It reviews the traceability of the sustainability elements back to the financial statements, which helps transparency, comparability, and impact measurement of the disclosed items and issues. This investigation allowed us to additionally review whether these companies are targeting to disclose the most harmful pollution impacts, or only focus to disclose the required obligatory items. Given the financial and sustainability reports magnitude manual testing would not provide complete and proper coverage, therefore we utilized an automated and AI-assisted content analysis with natural language processing. In this new review method, the sustainable elements of the textual reports were automatically retrieved following the 5-stage model of Landrum & Ohsowski (2018). The study highlights the lack of true sustainability information content of reports and the potential discrepancies and connections between the financial and the sustainability reports. Findings concluded that sustainability disclosures at the reviewed companies from several aspects could be improved and quantified, traced back to the financial disclosures, and to be comparable to each other if they apply a similar review method. Graphic abstract: [Figure not available: see fulltext.].
Open Access: Yes
Presenting Climate-related Disclosures in the Automotive Sector: Practical Possibilities and Limitations of Current Reporting Prototypes and Methods
Publication Name: Chemical Engineering Transactions
Publication Date: 2022-01-01
Volume: 94
Issue: Unknown
Page Range: 379-384
Description:
The eXtensible Business Reporting Language (XBRL) digital reporting system presents the annual accounts and financial data in a standardized format, thus producing comparable reports. This study examines how new sustainability reporting requirements proposed by the recent International Financial Reporting Standard (IFRS) S2 exposure draft could affect current reporting conditions of public listed European automotive manufacturers, from a taxonomical perspective. It was attempted the IFRS taxonomy to be linked with the ISSB's (International Sustainability Standards Board) proposed factors. Based on the changes in the regulatory environment and the existing digital reporting methodology, the paper proposed the inclusion of climate-related disclosure of automotive companies in the existing IFRS Taxonomy. In the taxonomical assessment, it was found that the recent sustainability reporting prototypes will likely affect certain financial statement sections, mostly the Notes to the financial statements. At present, there is no direct information available to investors and consumers on the environmental performance, which could be verified in the financial statements. There is no detailed emissions data that the company produces, as it is mainly the emissions compliance of the final product that is declared, especially in the automotive industry.
Open Access: Yes
DOI: 10.3303/CET2294063
Corporate Reporting of CO2 Emission Disclosures in Electric Vehicle Manufacturing: an Overview of Tesla Inc.
Publication Name: Chemical Engineering Transactions
Publication Date: 2022-01-01
Volume: 94
Issue: Unknown
Page Range: 391-396
Description:
Electric vehicles have been gaining ground over the past decade, with sales reaching 3 M units worldwide by 2020. From an environmental point of view, this type of propulsion has advantages in terms of lower emissions, which contributes to the growth in demand. In the present research, using content analysis of corporate reports, we have examined the CO2 emissions data of Tesla Inc., which has recently experienced heavy growth in the electric vehicle market. The research question is particularly relevant due to the increasing emphasis in the international regulatory environment on the obligation to disclose corporate sustainability information in a relevant and clear manner. Tesla's position, given its geographically extensive manufacturing network, is questionable in the application of public standards, guidelines, and measurement methods. Based on findings, Tesla’s disclosures do not fully comply with the proposed requirements of International Sustainability Standards. Among research results, the emissions-focused disclosures connected to vehicle production and sales volume were examined. Model 3 production between 2017-2021 has significantly increased from 2,7 k to 906 k vehicles globally, which puts a measurable impact on well-to-wheel CO2 emissions, influenced by the location of use and type of charging system. The disclosure gaps were addressed by examining the actual emissions performance from the open data source available to stakeholders as a contribution to the development of a future assessment system for digital reporting and accountability.
Open Access: Yes
DOI: 10.3303/CET2294065
The Resilience Barriers of Automated Ground Vehicles from Military Perspectives
Publication Name: Chemical Engineering Transactions
Publication Date: 2022-01-01
Volume: 94
Issue: Unknown
Page Range: 1195-1200
Description:
In the case of autonomous and semi-autonomous unmanned ground vehicles (UGVs), the military application of these systems is becoming more evident and is expected to play an increasingly important role in the future. This paper aims to present and analyse the military applicability and resilience of currently available autonomous ground vehicle perception and control systems. It is important to underline that the paper, after a comprehensive literature review and a presentation of the currently applied methods, attempts to provide a methodological classification of these complex vehicle platforms from the resilience perspective. The methodological classification is based on observations from both economic and engineering perspectives as a result of the systematic review. Furthermore, possible results of resilience are also discussed: survivability, supportability, agility and reusability of the analysed autonomous ground vehicle systems. All these factors can be significant from the point of view of sustainability. As UGVs used under challenging conditions get damaged or outdated, they tend to be dismissed without reusing expensive components, thus generating additional waste. UGVs designed with resilience in mind could be kept in service for a longer period, or their components could be reused more successfully, which supports sustainability. Based on findings there are not yet widely adopted estimation methods to measure the long-term resilience of autonomous military ground vehicles. Thus, a possible theoretical solution for system-autonomy resilience quantification was discussed relying on sensory components and perception methods extracted from the literature as input variables.
Open Access: Yes
DOI: 10.3303/CET2294199
Carbon accounting measurement with digital non-financial corporate reporting and a comparison to european automotive companies statements
Publication Name: Energies
Publication Date: 2021-09-01
Volume: 14
Issue: 18
Page Range: Unknown
Description:
The regulatory environment for both sustainability and financial reporting is changing as standardisation and digital reporting (e.g., XBRL) are gaining traction within regulators. The measurement methodology and mandatory information content of disclosures are yet to be decided for corporate CO2 reporting by EU regulators and standard-setting organisations. In our study, we reviewed the sustainability reports of three leading German automotive groups by revenue for the period 2016–2020 as a case study. The research methodology was carried out with text-mining-aided content analysis to provide a collection of sustainability standards (GRI and SASB) in the evaluation of emissions reporting. As an addition to prior literature, conditions of relevance and clarity regarding published information were introduced in the evaluation process of compliance to CO2 disclosures. Companies by reporting practice were assigned to different stages of carbon management and actual emissions were evaluated. In the conclusions, discussion of the reliability of reported sustainability information, the applicability of digital reporting is provided through regional perspectives. We found that although analytical methods are available to assess the level of corporate carbon management, their usefulness is limited if the data are not reliable. Significant progress can be expected from analyses using standardised, comparable corporate carbon data.
Open Access: Yes
DOI: 10.3390/en14185607
Global Sustainability Reporting in the Automotive Industry via the eXtensible Business Reporting Language
Publication Name: Chemical Engineering Transactions
Publication Date: 2021-01-01
Volume: 88
Issue: Unknown
Page Range: 1087-1092
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.
Open Access: Yes
DOI: 10.3303/CET2188181
Example of a German free-float car-sharing company expansion in East-Central Europe
Publication Name: Resources
Publication Date: 2019-12-01
Volume: 8
Issue: 4
Page Range: Unknown
Description:
This study examines the expansion of a German free-float car-sharing company in Hungary from financial and sustainability perspectives. BMW and Daimler recently created the joint ventures ShareNow, ChargeNow, ReachNow, FreeNow, and ParkNow, which are having a significant global impact, as their services are now available in 14 different countries. We also expect further market development, since ShareNow started to operate in Hungary in May 2019. The whole EU market is just one step away from being covered by the same professional service, and the future might bring a real globally available free-float car-sharing service provider. Our review used a combination of two methodologies: financial statement-based business analysis and sustainability analysis. On the basis of this study, we concluded that these companies are primarily operated for profit and not on a sustainable operation basis. Additionally, it was also found that the current statistical data collection method does not measure precisely these activities. Financial reporting and sustainability reporting are connected, but they cover different areas. As a subject of further research, we suggest examining whether it is possible to establish a clear connection between these methodologies in the foreseeable future.
Open Access: Yes
Linking sustainability reporting and energy use through global reporting initiative standards and sustainable development goals
Publication Name: Clean Technologies and Environmental Policy
Publication Date: 2025-12-01
Volume: 27
Issue: 12
Page Range: 8659-8667
Description:
This paper addresses the critical need for an integrated approach to sustainability reporting by examining the transition from internal combustion engine vehicles to electric vehicles within the automotive industry. By focusing on the top 8 highest-revenue global automakers in 2022, the study utilizes the Global Reporting Initiative (GRI) standards and United Nations Sustainable Development Goals to assess contributions to SDG 7 (affordable and clean energy) and other pertinent indicators. A comprehensive content analysis and logistic regression analysis are employed to explore the correlation between energy use and compliance with GRI standards from 2018 to 2022. The findings reveal significant trends in sustainability reporting, with a noted decrease in quality in the final year analyzed. Specifically, GRI 302-3 (energy intensity) shows a significant negative relationship with energy consumption, indicating higher energy usage correlates with lower compliance. The study reinforces the necessity for more transparent and effective sustainability reporting frameworks to enhance corporate practices and drive progress toward sustainability goals.
Open Access: Yes
Quantitative analysis of green investments in European automotive companies: a digital reporting analysis
Publication Name: Clean Technologies and Environmental Policy
Publication Date: 2025-12-01
Volume: 27
Issue: 12
Page Range: 8749-8761
Description:
Automotive companies are a major driver of the economy due to their high production volumes and extensive supply networks. However, the shift towards focusing on Environmental, Social, and Governance (ESG) aspects to comply with regulatory constraints and meet shareholder expectations presents significant challenges. This study addresses the need for transparency in green investments and their impact on CO2 emissions within the automotive sector. To achieve this, a sample of 22 listed European automotive companies were selected based on their digital financial reports (XBRL), as well as their annual sustainability reports. Key variables, including Scope 1, Scope 2, and Scope 3 emissions, were evaluated alongside three categories of corporate investments: tangible, intangible, and other long-term assets. A robust Analysis of Covariance (ANCOVA) model was employed to quantify the relationship between these investment activities and emissions. The results indicate a significant interaction effect on Scope 1 emissions, while the effects on Scope 2 emissions were not significant and Scope 3 emissions showed marginal results. These findings suggest that companies disclose green investments to mitigate reputational risks, offering insights into the relationship between financial and sustainability metrics in ESG reporting, while highlighting the importance of transparent reporting for achieving sustainability goals and enhancing comparability among companies.
Open Access: Yes
Toward Social Disclosure Alignment: Evaluating the Interoperability of ISSB S2 with ESRS and GRI Standards
Publication Name: Societies
Publication Date: 2025-10-01
Volume: 15
Issue: 10
Page Range: Unknown
Description:
The evolution of sustainability reporting has led to an increased emphasis on environmental disclosures, often at the expense of social and governance dimensions. While frameworks such as the International Sustainability Standards Board’s (ISSB) IFRS S2 standard offer important advances in climate-related transparency, they insufficiently address the broader social aspects of corporate sustainability performance. In response to this gap, this study investigates the interoperability of social disclosures across three major frameworks: ISSB S2, the European Sustainability Reporting Standards (ESRS), and the Global Reporting Initiative (GRI) standards. Using a structured interoperability index, we systematically map and score the degree of thematic and structural alignment between these standards, focusing specifically on social disclosure topics. The analysis reveals moderate interoperability between ESRS and GRI social disclosures, but far lower alignment between ISSB S2 and either ESRS or GRI, confirming the ongoing underrepresentation of the social pillar within the ISSB framework. Connectivity ratios remain below 6% across all matrices, underscoring persistent fragmentation in global ESG reporting standards. These findings highlight the need for regulatory bodies and standard setters to advance harmonization efforts that equally prioritize environmental, social, and governance dimensions. By foregrounding the interoperability gaps in social disclosures, this study contributes to the academic debate on ESG convergence and informs policy discussions on developing multidimensional, stakeholder-responsive reporting architectures.
Open Access: Yes
DOI: 10.3390/soc15100273
Categorisation of SDG targets into ESG pillars based on ESRS taxonomy
Publication Name: Discover Sustainability
Publication Date: 2026-12-01
Volume: 7
Issue: 1
Page Range: Unknown
Description:
This study examines the alignment between the Sustainable Development Goals (SDGs) and the Environmental, Social, and Governance (ESG) pillars through the lens of the European Sustainability Reporting Standards (ESRS) taxonomy, complemented by the Global Reporting Initiative (GRI). The research introduces a policy-relevant framework that categorizes SDG targets within ESG pillars, offering structured guidance for policymakers and regulatory bodies to harmonize global sustainability goals with corporate reporting practices. By mapping 199 GRI and 201 ESRS accounting entries to the 17 SDGs, the study identifies significant opportunities to address thematic and procedural gaps in existing reporting systems. The findings demonstrate that SDG 8 (“Decent Work and Economic Growth”) exhibits the highest linkage rate to ESRS accounting items, reinforcing its relevance for policy-driven frameworks that integrate economic resilience with social equity. This harmonized approach underscores the role of policy in fostering alignment between corporate ESG strategies and broader sustainability objectives, mitigating greenwashing risks, and advancing standardization across regions and sectors. The study advocates for policy interventions that leverage this framework to enhance transparency, accountability, and long-term decision-making for sustainable development.
Open Access: Yes
Joint Audit Research: A Systematic Literature Review and Future Research Agenda
Publication Name: Accounting Perspectives
Publication Date: 2026-01-01
Volume: Unknown
Issue: Unknown
Page Range: Unknown
Description:
We perform a systematic literature review in accordance with the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) protocol to uncover the characteristics and evolution of research on joint audits. The sample includes 53 papers published in the Scopus database from January 2007 to May 2025. Although many researchers have examined the primary benefits and drawbacks of joint auditing, the research on this subject remains relatively sparse compared to other areas of auditing, suggesting it warrants further exploration. Most joint audit research has focused on two main aspects—audit quality and fees—while only a few studies have examined audit report delays, the concentration of the audit market, and other limited topics related to joint auditing. This study also offers critical perspectives for future research avenues. This analysis serves as a valuable resource for researchers and practitioners seeking to deepen their understanding of joint audits.
Open Access: Yes
Investor Bias in ESG Ratings: Implications for Sustainable Portfolios
Publication Name: Ecocycles
Publication Date: 2025-12-15
Volume: 11
Issue: 2
Page Range: 67-77
Description:
ESG ratings are crucial tools that align financial strategies with the purpose of sustainability. Their reliability is often undermined because biases distort their comparability and dependability. The present study offers a novel contribution to the multidimensional analysis of biases in ESG ratings. Focusing on methodological inconsistencies, like firm size disparities, media influence, and self-disclosure practices. The unique contribution is integrating a behavioural finance perspective, considering psychological biases related to confirmation, overconfidence and herding behaviour factors that affect investor interpretation of ESG scores. This study synthesizes literature from diverse sources to identify the combined effects of these biases on capital allocation, market dynamics, and sustainable investment outcomes. It is a call for standardized ESG rating methodologies, increased transparency, and heightened awareness in practice to overcome these biases effectively. The actionable insights provided will help policymakers, rating agencies, and investors to create a more equitable and trustworthy ESG evaluation frameworks.
Open Access: Yes
ESG Ratings, Scope Emissions, and Corporate Creditworthiness: Insights into Rating Divergence in the U.S. and EU
Publication Name: Ecocycles
Publication Date: 2025-01-01
Volume: 11
Issue: 2
Page Range: 27-34
Description:
This study explores the relationship between corporate credit ratings, Environmental, Social, and Governance (ESG) ratings, and Scope 1, 2, and 3 emissions for the largest 100 publicly traded companies by market capitalization in the U.S. and the EU. By integrating credit ratings from Moody’s and S&P Global, ESG ratings from Refinitiv and S&P Global, and emissions data from corporate sustainability reports, this research addresses the inconsistencies in how emissions transparency impacts creditworthiness. Employing statistical analyses such as correlation, regression, and quartile comparisons, the study provides novel insights into the weak association between ESG ratings and actual emissions performance. The findings reveal that higher credit-rated companies tend to report higher Scope 1 and 2 emissions, while ESG ratings, despite being seen as indicators of sustainability, fail to consistently reflect a company’s emissions data, particularly Scope 3 emissions. This study contributes to the literature by underlining the methodological divergences among ESG rating agencies, emphasizing their limited alignment with environmental performance metrics. Highlighting the need for a standardized ESG reporting framework, this paper calls attention to the limitations of current ESG scores as a proxy for corporate sustainability and their implications for credit rating assessments.
Open Access: Yes
Audit fees in the mandatory joint audit setting: a comparative study between the European Union and the MENA region
Publication Name: Journal of Financial Reporting and Accounting
Publication Date: 2026-01-01
Volume: Unknown
Issue: Unknown
Page Range: 1-28
Description:
Purpose – This study aims to investigate audit fees for nonfinancial listed companies under mandatory joint audit regimes, comparing the effects of different joint audit pair compositions in France (EU) and Morocco (MENA region). Design/methodology/approach – Using a sample of 397 nonfinancial listed companies (349 French, 48 Moroccan) from 2014 to 2023 (3, 970 firm-year observations), this study uses multivariate regressions in Stata to examine audit fee variations across six joint audit pair types: B4B4 (two Big Four firms), B4S1 (one Big Four with one non-Big Four international), B4S2 (one Big Four with one local), S1S1 (two non-Big Four international), S1S2 (one non-Big Four international with one local) and S2S2 (two local). Findings – Results reveal significant differences in audit fees across joint audit pairs in both France and Morocco, regardless of pair type or firm size. Notably, fees are consistently higher in France, which has stronger investor protection, than in Morocco. In terms of pair ranking in France, B4B4FR commands the highest fees, followed by B4S1FR and B4S2FR. There is no significant fee difference between B4B4FR and B4S1FR, supporting the preference for joint Big Four pairs among large companies. By contrast, in Morocco, B4B4MO has the highest fees, followed by B4S2MO; B4S1MO has the lowest. Non-Big Four pairs (S1S1, S1S2 and S2S2) show no significant fee differences in either country, suggesting that medium-sized companies rationally select two non-Big Four international auditors. Further analysis shows that, in France, Big Four premiums and interpair fee gaps narrow as firm size increases. Conversely, in Morocco, B4B4MO and S1S1MO are more competitively priced for small firms, while B4S1MO targets larger firms. Regarding industry specialization, it generally raises fees – except in B4S2 and S1S1 pairs (no effect) and in B4S1FR, where it reduces fees. Practical implications – This study offers significant insights for investors, policymakers and companies involved in joint audit frameworks, as well as those considering implementing joint audits, through an in-depth analysis of a crucial issue in joint auditing. Originality/value – To the authors’ knowledge, this is the first comparative study of joint audit fees for nonfinancial companies in mandatory regimes across developed (France) and emerging (Morocco) markets. It classifies joint audit pairs into six categories and investigates the effects of company size and auditor industry specialization on these fees.
Open Access: Yes
Joint audit work allocation in the mandatory joint audit setting: a comparative study between the developed and the emerging economies
Publication Name: Cogent Business and Management
Publication Date: 2026-01-01
Volume: 13
Issue: 1
Page Range: Unknown
Description:
This study investigates the effects of joint audit work allocation on audit quality, fees, and report delays. It analyzes data from 347 non-financial listed firms in France and Morocco. Audit fee shares serve as a proxy for workload distribution. The findings reveal notable differences between France and Morocco. At the macro level, there is no statistically significant relationship between joint audit work allocation and either audit quality or audit report delays in France. However, greater imbalances in work allocation are associated with higher audit fees. In Morocco, greater imbalances in the allocation of work are associated with lower audit quality, higher fees, and longer delays. At the joint audit pair level, most pairs in both countries exhibit no significant relationship between work allocation and audit quality, fees, or report delays. Nevertheless, specific French and Moroccan pairs with greater imbalances in work allocation experience higher audit fees and longer delays. Regarding company size, joint audit work allocation has a minimal effect on audit quality, fees, and delays among large firms. As unbalanced joint audits have parallels to single audits, our findings contribute to current discussions of their comparative advantages and disadvantages. This study provides valuable and practical insights for a wide audience, including investors, board members, practitioners, academics, and policymakers.
Open Access: Yes
Mapping Firm Debt and Productivity with Spatial Analysis in the Visegrad Countries
Publication Name: International Journal of Financial Studies
Publication Date: 2026-03-01
Volume: 14
Issue: 3
Page Range: Unknown
Description:
Economic crises significantly restrict corporate access to external financing, and regional differences in recovery capacity deserve close attention. This study examines the financial structure and debt of large enterprises in the Visegrád Four (V4) countries (Hungary, Czechia, Poland, Slovakia), focusing on firms with annual revenues above €10 million. Using data from 2021 to 2023, the analysis explores the relationship between corporate debt—including total debt and loan volumes—and regional economic characteristics at the NUTS 3 level. Financial indicators are assessed in comparison with regional productivity data and a sector-specific specialization index sourced from Eurostat. The analysis targets the post-COVID-19 recovery period, which significantly influenced corporate financial behavior. The results indicate that corporate debt increased sharply at the onset of the COVID-19 pandemic and subsequently declined, while remaining strongly concentrated in capital regions. Higher firm concentration and employment scale are associated with greater regional indebtedness, whereas stronger productive capacity is linked to lower reliance on external debt outside metropolitan cores. Overall, the findings highlight pronounced structural and regional heterogeneity, illustrating how spatial concentration and underlying regional characteristics shape corporate debt dynamics during periods of economic stress.
Open Access: Yes
DOI: 10.3390/ijfs14030064
Varieties of capitalism and sustainability reporting: Text analysis-based evidence on European companies
Publication Name: Sustainable Futures
Publication Date: 2026-06-01
Volume: 11
Issue: Unknown
Page Range: Unknown
Description:
Sustainability reporting has become a crucial tool for global corporations to disclose environmental, social, and governance (ESG) aspects. This paper examines how corporate sustainability reporting depth varies with firm financial characteristics and with the institutional diversity of European economic systems. Companies are classified using the Varieties of Capitalism (VoC) framework, accounting for the economic differences represented by distinct capitalism models. The quantitative design applies dictionary-based text mining to 2022 and 2023 sustainability reports, using ESRS-aligned scoring to measure disclosure breadth and topic coverage. The sample includes the 20 highest-revenue firms from each VoC group. WordStat-based text analytics generate ESRS topic scores and link disclosure outcomes to firm size, profitability, and leverage. Results indicate systematic cross-VoC differences in ESRS coverage, with higher median disclosure breadth in Social-Democrat Economies (SDE) and Mediterranean Capitalism (MED) settings, thinner coverage more common in Continental European Capitalism (CEC) and Eastern and Central European Capitalism (EAST) settings, and Liberal Market Economies (LME) typically occupying an intermediate position. Regression evidence identifies firm size as the most consistent positive determinant of disclosure breadth, while profitability shows weaker or inconsistent associations and leverage is more often linked to thinner environmental coverage. Findings imply that achieving ESRS comparability across Europe require not only harmonized standards but also institution-sensitive implementation and enforcement capable of reducing persistent cross-country differences in disclosure depth.
Open Access: Yes
