Browsing by Author "Liimatainen, Iida"

A striking change has taken place in the corporate responsibility reporting, when reporting obligation under the Corporate Sustainability Reporting Directive, approved by the European Parliament and of the Council came into effect from the beginning of 2024. Corporate Sustainability Reporting Directive sets new requirements to the companies regarding the amount and quality of reported data. Changes in the reporting process introduced by the directive pose challenges for companies as they need to be able to identify the material sustainability issues most relevant to their own activities as well as manage large amounts of data. This thesis studies the corporate responsibility reporting challenges of the Corporate Sustainability Reporting Directive from the perspective of six Finnish food companies, whose reporting obligation will start from the beginning of 2025, in the second phase of the directive’s implementation. The study for this thesis was conducted as semi-structured thematic interviews with a total of six experts responsible for corporate responsibility reporting. The interviews were conducted in February 2024 and the analysis was made as thematic content analysis. Institutional theory was used as a theoretical framework to better understand the impacts of institutional changes on companies’ operations and how they adapt their own operations to them. The results show that companies face several different challenges in their corporate responsibility reporting related to project management, data collection and interpreting and understanding reporting requirements. The key finding from this study is that the challenges faced by the companies are significantly affected by the tight schedule for the implementation of the Corporate Sustainability Reporting Directive. The changes introduced by the directive, such as the double materiality analysis and the machine-readability of reports, have posed major challenges for companies, as they are very different from one another and therefore require the input of different experts.