Corporate Social Responsibility Reports ; Samfélagsskýrslur fyrirtækja

The social responsibility of companies is a subject of much discussion, and stakeholders want companies to inform about their standing in that area. This article focuses on how Icelandic companies inform about their status and where they are heading in these matters. The purpose of this study is to look at the social responsibility reports of Icelandic companies to understand what information appears in them, the presentation of the data and the performance of the companies in aspects related to the environment, society and governance (ESG factors). A total of 33 social responsibility reports issued by Icelandic companies published in 2021 were analysed to review what issues appear in the social responsibility reports, where the companies are doing well and where the disclosure can be improved. The study sought answers to two research questions, firstly, whether social responsibility reports were standardized, comparable and verified by external parties and how is it done. Secondly, it was examined whether the social responsibility reports contain enough information to inform investors and other users about how the companies perform in informing about the status of ESG factors, their development, their success and where they are headed. The study shows that companies generally use standards when preparing social responsibility reports that facilitates comparisons between companies and periods, however, the use of measurement units in the reports can be better standardized. As for the verification of social responsibility reports, it is not common practice, which reduces their reliability and credibility. In general, companies report well on the status and development of ESG factors in social responsibility reports, but they could provide better information about their goals in ESG factors. Information in social responsibility reports is useful for investors and other users to understand the position of companies in ESG factors and their goals. Issuance of social reports of Icelandic companies are relatively ...