Environmental Reporting by Multinationals From the Triad: Convergence or Divergence?1

Zusammenfassung

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Environmental reporting has become rather common for many multinationals, but how and to what extent this differs for the Triad regions is largely unknown. This paper investigates the differences in patterns and trends in reporting by Triad multinationals, also examining whether, in line with the globalization thesis, convergence has occurred, and what the influence of institutional factors is. The empirical section is based on an analysis of environmental reporting occurrences by the Fortune Global 250 companies, using the panel of those multinationals that were included in the 1998 list and survived into 2002, and with their home base in the Triad regions (n = 203). In the 1999-2002 period, environmental reporting by US multinationals has stabilized, while a significant rise can be noted in both Japan and Europe. The differences between the Triad regions have increased, especially between US and Europe/Japan.

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Auszug

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Environmental Reporting by Multinationals From the Triad: Convergence or Divergence?1

Introduction

Since the 1990s, the 'Janus face' of globalisation and the power of multinationals has increasingly received attention (Eden/Lenway 2001, Hertz 2001, Klein 2000, Stiglitz 2002, Vernon 1998), most notably at meetings of international organisations such as the WTO and the G8. Suspicion about corporate behaviour and accountability has been fuelled further by accounting scandals such as those at Enron, WorldCom and Ahold. Multinational corporations (MNCs) in particular are singled out in the debates on corporate governance and social responsibility. They have increasingly been targeted to show their commitment and take action to prevent environmental pollution, human rights violations and other 'externalities' of international trade and production.

Although attention for the international environmental and social implications of multinationals' activities is not new - there was an earlier, rather shortlived wave in the 1970s - MNCs' responses in the 1990s have been different. Under pressure from especially non-governmental organisations, which voiced their strong concerns about the negative implications of globalisation in general and multinationals' behaviour in particular, many MNCs have started to adopt codes of conduct, implement management systems and publish reports on their environmental and sustainability activities. Half of the largest MNCs publishes a sustainability report on environmental and sometimes also societal issues, a percentage that rises to 60% if only the industrial firms are included (KoIk 2003, KPMG 2002, Krut/Moretz 2000, Line/Hawley/Krut 2002). Apparently, some form of accountability on environmental issues has become rather common for many large multinationals, and to a lesser extent, for smaller firms as well.

While environmental reporting has become so widespread because of the international spread of activities of MNCs, their visibility and the pressure ex...

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