Corporate social responsibility (CSR) has become increasingly important for companies in recent years. On the one hand, regulatory frameworks require the disclosure of measures for sustainable management. On the other hand, for long-term corporate success, stakeholders must be strategically engaged in the dialog on sustainability aspects. Social media, and Twitter in particular, offer the potential to foster a meaningful stakeholder dialogue on CSR topics. Due to Elon Musk's acquisition in the fall of 2022, this strategic disruption provides an opportunity to systematically capture the platform's past activities and strategies to synthesize practical information that can guide Twitter usage decision making and be used for research to serve as the basis for future comparative longitudinal studies of changes in usage. We conducted a literature review including 42 papers to contribute to the body of evidence on CSR communication strategies on Twitter across industries and countries by deriving interdisciplinary suggestions for strategic CSR-related stakeholder management. Results cover relevant CSR topics, prioritized stakeholder groups for CSR communication on Twitter and successful communication strategies for companies to obtain beneficial results, such as generating social media capital. The results contribute to the strategic planning and implementation of CSR stakeholder management on Twitter and offer starting points for future studies on social media mining and CSR communication strategies.

The business practices and the vast academic research on the field have shown that even in the years of the great economic recession, there CSR and Ethics in business environment are still on the spotlight. The current study is conducted in Greece and is a cross-sector analysis. The study aims to evaluate if the concept of Carroll’s pyramid (1991) is still applied nowadays. This model expresses the business priorities, admitting that the rational business prioritizes profit as the base of the pyramid, followed by a legal way of operating, followed by ethical and philanthropic responsibilities. However, the growing interest on CSR and ethical issues may set this model on question. Baden (2016) has developed a critical evaluation that showing that the priorities have been changed. We employ a similar methodology to evaluate these priorities within the Greek business environment. A sample of 950 participants has been employed. The sample is consisted of various business hierarchy employees, from various Greek cities. The results show that despite the bad economic situation of the country, the economic responsibilities are not ranked on highest position: legal and ethical responsibilities are prioritized against economic responsibilities. These results confirm the findings of Baden (2016) and contribute on the relevant literature considering the necessity of CSR and Ethical issues in business environment nowadays.

This study analyzes the evolution of Corporate and Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) concepts in social media, specifically on Twitter, from 2007 to 2022. The research aims to understand how society perceives organizational practices related to these aspects. Twitter provides an authentic environment for capturing user perceptions. The methodology involved collecting Tweets using Python and analyzing them in English, Spanish, and Portuguese with RStudio. The study's main findings highlight significant contributions and concerns within the CSR and ESG debates. While CSR's popularity showed a downward trend from 2010 to 2019, ESG grew exponentially during the pandemic and post-pandemic periods. Word analysis revealed the impact of specific hashtags: RSC in Spanish, #CSR in English, and #ESG in Portuguese. Society's increasing concerns concern environmental issues for combating global warming and ensuring a better quality of life, alongside financial transparency and ethical practices in companies. However, the social aspect of ESG, represented by the letter "S," didn't garner the same attention as environmental and governance matters. This discrepancy might stem from a lack of awareness or lower priority in public discussions on social media, overshadowing the social dimension in the ESG framework.

This study aims to understand the changes in management trends among global companies before and after the onset of COVID-19. To achieve this, we employed keyword and topic modeling to analyze 420 CEO messages extracted from the reports of the Fortune Global 100 largest companies. The analysis revealed a noteworthy prevalence of keywords associated with shared culture, such as face-to-face interactions and cooperation, during the initial period. In the subsequent period, we observed a higher frequency of keywords related to community-centeredness and digital trans-formation, including employee health and well-being, inequality reduction, and sustainable cities. Furthermore, we identified common topics before and after COVID-19, such as risk management and competitive advantage. However, the topics that exhibited variation were the significance of corporate leadership and the evolution of digital technologies. This study is significant in that it enables us to analyze CEO messages and deduce the trajectory of corporate management post-COVID-19.

The present study finds the association of board characteristics (such as gender diversity, independence, female chairperson or/and female CEO, and board size) and the quality of Corporate Social Responsibility (CSR) disclosure of the top 100 Pakistan Stock Exchange (PSX) listed companies. Unlike most earlier studies in similar contexts, we have focused on CSR disclosure ‘quality’ and not ‘quantity’. We conducted the content analysis of secondary Corporate Governance (CG) and CSR data extracted from the annual reports of PSX-listed companies across ten industrial sectors from period of 2017 and 2018. Our empirical investigation through univariate and multiple regression analysis with Ordinary least squares (OLS) techniques revealed that all the board characteristics potentially have a significant association in lessening CSR disclosure quality. We acknowledge several research limitations, including the study time period and selected board characteristics. While our study has provided some understanding of the association of board characteristics with CSR disclosure quality of PSX-listed companies, several research gaps still need to be addressed. Future investigators should examine this association through the pre-COVID-19 and post-COVID-19 connections and the inclusion of a systems theory perspective.

Reporting on CSR activities has become the essence of reporting for modern business entities. In this regard, particular attention is paid to public interest companies. Therefore, the following paper aims to answer the question of whether there are differences in the linguistic structure of the studied CSR reports in three selected industry indices on the Warsaw Stock Exchange (WSE) in Poland, i.e. WIG-energy index, WIG-fuel index, WIG-mining index and their relationship with the performance of selected companies. The study was conducted on a purposely selected sample of companies between 2013 and 2018. A total of 138 CSR reports and 138 annual separate financial statements prepared in accordance with international balance sheet law were collected. The study was carried out based on a panel regression model. It was found that CSR reports contained similar average percentages of parts of speech such as nouns and adjectives. When linking the economic performance of companies, expressed with selected indices, to the information on the implementation of CSR concepts, it was revealed that the results are more likely to describe business performance when it is satisfactory.

This study aimed to investigate the current status of the Sustainable Workplace Equality Policy (SWEP) in an emerging country—Kuwait—and how it impacts firms’ financial and market performance. The study included companies listed in the Kuwait Boursa (Boursa Kuwait is the operator of the Kuwait Stock Exchange) in the period between 2012 and 2020. A disclosure index was prepared for SWEP based on guidelines provided by a combination of various sources and standards such as the Global Reporting Initiatives (GRI) standard, S&P global corporate sustainability assessment, Dow Jones sustainability index, United Nations global compact, and KPMG sustainability reporting standards. Time series regression analysis was used to examine the study hypotheses. The analysis revealed a strong positive relationship between the SWEP disclosure and firm measures of financial performance. The results indicate that SWEP is value-relevant and affects firms’ market value, suggesting that investors should consider firms’ disclosure of the SWEP when making investment decisions. The results of the current study are of interest to several stakeholders, especially investors and policymakers. Specifically, the study is relevant to the Kuwaiti Government, which has defined a clear path for sustainable growth with the Vision 2035/New Kuwait that is aimed at transforming the country into a financial and commercial hub for the region by 2035.

Without doubt, the social and environmental business impact will become more important as the governments cannot take care about these problems. Thus, launching the EU Green deal rules, World Global Sustainable Development Goals, corporate social responsibility (CSR) activities and strategies are part of this global commitment. Additionally, CSR is strongly connected to the exploration of (social) market awareness and technology development and application as it focusses on social, environmental and economic business impact. The main goal of the paper is to verify that contemporary greener CSR strategies are beneficiary activity for high-tech companies because of better competitive advantages acquisition through management of corporate reputation risk and patenting innovative technologies. The structure of the paper is the next: 1. Introduction – explanation the previous researches that explore the relation: CSR strategy – high-tech company competitiveness; 2. State of art – exploring the corporate reputation and patent rights as factors in CSR strategy; 3. Patent monopoly and CSR – research the connection between reputation risks of patents rights and CSR strategy; 4. Business performance and CSR reporting – briefly research methodology is presented as some results from Bulgarian companies; 5. Discussion and conclusions – summarizing a methodology for patent rights and reputation risk management for better CSR effects.

This document aims to adapt the dimension of the Socially Responsible Brand Personality (SRBP), proposed by Mayorga (2017), in the midst of the Covid-19 pandemic. The interest of this work is to contribute with the management of the CSR, contributing from a communicational perspective with a tool that optimizes the construction of a socially responsible image by the different stakeholders. The results allow us to conclude that there is a structural modification of the brand personality, which can be presumed to be generated by the current environment and can be established as a pillar of CSR management in the new normality.

This study analyzes the relationship between economic policy uncertainty (hereinafter EPU) and corporate value, and verifies the differential effects of EPU on corporate value according to corporate social responsibility (hereinafter CSR) activities. The study period was from 2010 to 2020, and the EPU indexes measured by Baker et al. (2016)'s method and Hexun's CSR scores for companies listed on the Chinese stock market were used. Hexun is one of the three major evaluation agencies in China, and the CSR scores evaluated by this agency have been widely used in previous studies as a representative indicator of Chinese companies' CSR performance. The results of this study are as follows. First, EPU and corporate value were found to have a negative (-) relationship. Second, active CSR activities relieved the negative (-) relationship between EPU and corporate value. Finally, companies were divided into groups according to CSR activity scores to analyze the relationship and according to the result, the negative (-) relationship between EPU and corporate value was greater in the groups with low CSR activity scores than in the groups with high CSR activity scores. A lag model was applied to control endogeneity, and the results were consistent with the main results above. Previous studies have mainly focused on microscopic factors to investigate factors affecting corporate value. This study focused on macroeconomic policies and paid attention to the effects of changes in the macroenvironment caused by economic policy uncertainty on corporate value. In addition, this study is meaningful in that it expanded previous studies related to CSR activities by confirming that active CSR activities can be an advantageous tool for overcoming EPU.

Traditional Corporate Social Responsibility (CSR)-programs rarely include participatory components that connect CSR-activities of private companies with their local communities. However, there is an increasing demand to include citizens as well as the resources and expertise of the private sector in the design and implementation of local community planning processes. To assess the potential, opportunities, and challenges of including private companies into participatory community planning at a local level, we analyzed the experiences that we collected during the piloting phase and the commercial roll-out of the ‘Bürgercockpit’-application for citizen participation, as well as the results of a digital CSR-questionnaire that we shared with different companies in Austria. Our research indicates that most of the participating companies are interested in including local communities into their CSR-projects using a digital tool, if this tool is easy-to-use, easy-to-access, and provides a flexible structure to address specific project requirements as well as properly designed features for stakeholder communication and user feedback. The findings of both, the ‘Bürgercockpit’-pilot study and the CSR-questionnaire provided us valuable input for designing a prototype solution of a digital CSR-tool for participatory community planning at a local level as well as recommendations for future research in this topic of growing interest.

(1) Background: Presentation of the method of increasing the competitiveness of the mining industry through the demonstration of the possibility and potential in closing the loop of supply chains through waste management; (2) Methods: The source literature analysis and an arithmetic analysis of the data of statistical materials and data obtained from business in static and dynamic perspectives; (3) Results: According to the latest data available, in Poland, mining wastes account for over a half of industrial wastes, while the annual growth of mining wastes is on the level of 4%. The recorded recovery of mining wastes is on the level of ca. 19%. The exemplary company that deals with the recovery of carbon wastes recovers ca. 80% of material, which is handed over for utilization (4) Conclusions: It has been found that the structure of the level of mining wastes and the level of their recovery rates demonstrate a large potential of closing the loop of chains in this industry and, at the same time, a potential to extend the chains through directing the material from recovery to various sectors. This constitutes an example of the direction of activities that are in line with the EU strategies for the economies of other states which possess this type wastes.

The objective of this study was to investigate the relationship between high-performance work systems and a company’s social performance, taking into account the organizational climate as a situational variable. Specifically, this study aimed to analyze the impact of perceptions of a high-performance work system on the perception of a company’s social responsibility (CSR) among employees of Jordanian companies with an organizational size of 300 or more. This study used 175 valid questionnaires, and SPSS and AMOS 24 were used to test the hypotheses. The results showed that there was a positive relationship between the perception of a high-performance work system and the perception of a company’s CSR. Furthermore, this study found that a positive diversity climate could enhance the positive relationship between the two. These findings suggest that high-performance work systems can contribute to the development of sustainable human resource management systems and that a positive diversity climate is essential in shaping these systems. Based on these results, it is recommended that companies implement HPWSs and encourage workforce diversity to maximize the value of CSR activities and ensure their sustainability.

Corporate sustainability reporting, also known as Triple-bottom-line reporting, involves reporting nonfinancial and financial information to a broader set of stakeholders than just shareholders and seek to fortify an organization’s ability to manage key risks. The current case is that, the quality, rigor, and utility of sustainability reporting remains contentious with concerns about the suitability of the criteria or standards used to prepare the reports. Despite the rapid increase in the number of companies around the world adopting Global Reporting Initiative standards, little is known about the extent of practice of corporate sustainability reporting in public universities in Kenya. The study selected five universities that had their 2017-18 audited financial reports available online for the readers, which served as the main source of secondary data. The guidelines on corporate sustainability reporting was derived from literature review, which provided key indicators upon which the data from each university was evaluated. It was observed that almost all the institutions recognize the critical role of both internal and external independent audit of financial statements. In conclusion, financial reporting sustainability is guided by strict compliance to the factors of sustainability.

We examined how combinations of corporate social responsibility (CSR) activities lead to high performance in Korean companies. This study addressed two related questions to expand our limited knowledge in this area. The first was what combinations of CSR activities achieve high performance. The second was to identify how CSR activities form an interdependent system, depending on different corporate situations. Korean Economic Justice Institute index data, from 2012 to 2018, were used with fuzzy set qualitative comparative analysis, and the results revealed several effective CSR activity factor combinations under given strategies and management environments. Companies with high performance exhibit complementarity between social contribution, environmental management, fairness, and employee satisfaction. By contrast, companies with low corporate performance show no complementarity between relatively unrelated activity factors. For companies whose CSR activities lead to low financial performance, most of the causal pathways focused only on activities at the primary stakeholder level, with weak diversity of CSR activities’ combinations at the primary and secondary stakeholder levels. These results indicate not only the appropriateness of CSR activity factor combinations for companies’ strategy and management environment contexts, but also their effectiveness, and are expected to provide companies with significant implications for CSR activities.

This study investigates the relationship between Corporate Social Responsibility (CSR) dimensions and employees' satisfaction and retention for sustainability in banks. Carroll (1991) proposed a theoretical approach that consists of four components (economic, legal, ethical, and philanthropic) to analyze CSR activities and their effects on employee’s satisfaction and retention in the company. Simple random sampling was used to get the information from 221 participants. The entire form of the dataset is utilized to execute regression and correlation analysis using SPSS. In order to find out the relationship between economic, legal, ethical, and philanthropic factors and employee's satisfaction and retention, regression beta coefficient and correlation coefficients were used to analyze. This study also examines the relationship between job satisfaction and intentions to retain with an organization. The findings demonstrate that the CSR aspects of ethical and philanthropic have a considerable and favorable influence on employee's satisfaction. The outcome also demonstrates a good and prominent influence of legal CSR on the satisfaction of employee's to retain with the firm. Moreover, this study demonstrates that economic aspect of CSR has no significant impact on employee's retention and satisfaction. Correlation analysis depicts that economic CSR is positively and significantly connected with employee's retention and satisfaction. This research came to the conclusion that enhancing employees view regarding CSR activities such as economic, legal, ethical, and philanthropic will increase employee's satisfaction. Therefore, executives and managers in the banks should take steps to influence how employees see CSR areas in order to raise employee's satisfaction and retention in the banks for sustainability.

This study investigates the impact of brand lovemark on three customer behavioral outcomes (i.e., green brand loyalty, willingness to pay a deposit, and machine use intention) in coffee shops’ CSR practices. We used a scenario-based experimental design on CSR practices in two coffee shop brands (i.e., Starbucks and Dunkin'). The study demonstrates that consumers with a high level of brand lovemark respond more positively to CSR practices of coffee shops than do customers with a low level of brand lovemark. In addition, the interactions between brand lovemark and gender appear to be important in all three behavioral outcomes. Specifically, it confirms that men and women show different levels of behavior outcomes depending on their level of brand lovemark. Theoretical and managerial implications are also suggested with the direction for future study.

This study takes a two-echelon agricultural products supply chain (APSC) composed of an agricultural product processor (processor) and an agricultural product supermarket (supermarket) as the research object. In order to ensure the stable supply of high-quality agricultural products, this paper considers both fairness concern and corporate social responsibility (CSR), and establishes four Stackelberg game models with or without considering fairness concern and CSR, and obtains the influence mechanism of fairness concern and CSR on bilateral quality efforts in APSC through comparative analysis and numerical analysis. Research shows that the supermarket’s fairness concern can take the role of "profit distribution mechanism", but it is not conducive to improving bilateral quality efforts resulting in the inability to improve market demand, and it is not conducive to improving the utility of the supply chain system and consumer surplus; both members of APSC sharing CSR can not only improve the quality of agricultural products and promote the expansion of market demand, but also can achieve Pareto improvement of both profit of all members and supply chain system. Besides, The CSR shared by both members has a greater impact on bilateral quality efforts decision than the supermarket’s fairness concern, and thus the positive effect of CSR can overcome the negative effect of supermarket’s fairness concern.

As the digital era advances, many industries continue to expand their use of digital technologies to support company operations, notably at the customer interface, bringing new commercial opportunities and increased efficiencies. However, there are new sets of responsibilities associated with the deployment of these technologies, encompassed within the emerging concept of corporate digital responsibility (CDR), which to date has received little attention in the academic literature. This exploratory paper thus looks to make a small contribution to addressing this gap in the literature. The paper adopts a qualitative, inductive research method, employing an initial scoping literature review followed by two case studies. Based on the research findings, a simple model of CDR parameters is put forward, and the article concludes with a discussion of a number of emergent issues - fair and equitable access, personal and social well-being, environmental implications, and cross-supply chain complexities - that suggest possible directions for future research.

Although numerous organizational researchers have acknowledged that COVID-19 shocks reduced the tourism industry’s financial performance, relevant literature remains scarce. Do tourism firms reduce corporate social responsibility (CSR) investments to decrease costs? The answer is unclear. This study fills the gap between stakeholder and cost stickiness theories. Based on a quasi-natural experiment of listed Chinese tourism companies from 2017 to 2021, the study finds that the COVID-19 shock caused tourism firms to increase strategic and decrease responsive CSR. In addition, tourism firms that adopted cost leadership strategies trimmed responsive CSR more than strategic CSR. Tourism firms with differentiated leadership strategies increased strategic and decreased responsive CSR. Tourism firms with higher levels of political connections increased responsive CSR, while tourism firms with higher organizational resilience increased strategic CSR. At the theoretical level, this study reveals the theoretical mechanism of the COVID-19 epidemic’s shock on tourism firms' adjustment of CSR from the perspective of cost stickiness. On a practical level, it helps inform tourism firms’ decision-making regarding CSR adjustments for sustainable development when they face widespread crisis scenarios.

The Coronavirus (COVID-19) pandemic has created big challenges and opportunities in Higher Education (HE). In this situation, several universities worldwide have responded with digital methods and hybrid classes in a short period of time. The aim of this paper is to show how the universities have adapted teaching methods to digital platforms in the academic year 2020–21. This case study is based on the experience of 37 postgraduate communication students in the course Business and Communication from a Communication Programme. The objective of this course was to promote the 17 sustainable development goals (SDGs) in business and following the Principles for Responsible Management Education (PRME) of the United Nations. To do this, the students provided different solutions related to the SDGs and developed a communication strategy to inform and engage the stakeholders in the companies analyzed in a hybrid class. The results show that using this methodology and working in digital platforms, students have learned the importance of SDGs through implementing specific solutions linked to the corporate social responsibility (CSR) strategy. Based on this analysis, they also developed a communication strategy showing how companies can improve society with specific actions through the lens of the SDG perspective.

An increasing number of studies have proposed that corporate social responsibility (CSR) performance depends on how companies apply their resources and capabilities to implement CSR. A firm’s ability to integrate, build, and reconfigure internal and external competencies to respond to environmental changes is its dynamic capability. Implementation of CSR at the strategic level will contribute to a firm’s sustainability. However, the research on strategic CSR is incipient. This study explores possible mechanisms to investigate how dynamic capability influences the performance of strategic CSR in China. By analyzing 134 Chinese listed companies in the period 2017–2019, in this study, we found that firms with a high level of dynamic capability were less likely to adopt strategic CSR practices, and had a low strategic CSR adoption performance. The results confirmed the loss aversion channel, indicating that firms with a high dynamic capability level were loss averse and that managers had a decreasing sensibility in decision-making and allocated fewer company resources in CSR projects. These results can help companies to better understand the dynamic capability and how dynamic capability contributes to the adoption of strategic CSR and performance over time. The policy implications of the study are also discussed.

The textile and clothing (T&C) industry is not usually viewed as an exemplar of sustainable de-velopment and the circular economy, as the industry has hitherto made its products in linear fashion, with relatively little recycling of the finished goods. This article examines the industry’s approach to the core sustainability concept and the circular economy in particular, through a re-view of the available academic literature, evidence from corporate sustainability reports and websites, and feedback from an online survey of industry professionals. The role of digital technology deployment in engendering sustainability and the circular economy in the industry is also explored. The study finds that whilst sustainability is now firmly embedded at the strategic level in the vast majority of companies studied, attitudes towards the circular economy remain fickle. The use of digital technologies in support of sustainability objectives is also limited at present, but the article concludes that the need to meet compliance requirements and new cus-tomer perceptions of sustainability will speed the transition to circular economy activities, facili-tated by greater exploitation of digital technologies. Building upon the research findings, existing models and an initial conceptual framework, a simple operational model for initiating such a transition for small-to-medium sized enterprises in the T&C industry is put forward.

Currently, companies and SMEs (small and medium enterprises) are looking to be more competitive. In order to achieve this, they are adopting new business models and strategies that allow them to move towards sustainability. Strategies such as CSR (Corporate social responsibility) and supply chain management have become essential for ensuring a company’s permanence and financial consolidation. The literature has stated that the theories of Stakeholders and Sustainability are fundamental pillars for the development and sustained growth of business. The purpose of this article is to examine the effects of CSR and the SC (supply chain) on innovation, image and reputation, and in turn, their influences on profitability in SMEs. This research is based on a sample of 143 companies in the city of Guaymas Sonora, in Mexico. For the analysis and validation of the results, we used the SEM (Structural Equation Modeling) statistical technique based on the variance, through PLS (Partial Least Squares) (using SmartPLS version 3.2.6 Professional). The findings show that SMEs that develop social and sustainable practices increase their level of innovation, and improve their image, their reputation, and their financial profitability. This work contributes mainly to the development of Stakeholders and Sustainability.

This study proposes a framework to integrate Sustainability within Management Systems Standards and subsequently implement and disclose Sustainable Development goals and results. Moreover, it investigates the SD goals (SDGs) and results (SDRs) that Portuguese organizations with Integrated Management Systems (IMSs) disclose to their interest parties. The study, supported by content analysis, highlights that the four more frequently disclosed SDGs are “life on land“(50.0%), “industry, innovation, and infrastructure” (47.1%), “responsible consumption and production” (47.1%), and “partnerships for the goals” (47.1%). Conversely, the four SDRs most frequently disclosed are “employment” (82.4%), “economic performance” (79.4%), “anti-corruption” (64.7%), and “occupational health and safety” (61.8%). Hence, SDGs disclosure emphasizes the environmental dimension, while SDRs disclosure highlights the social dimension (economic dimension present in both SDGs and SDRs). Finally, the disclosure of SDGs and SDRs in institutional reports presents a positive and strong correlation that is statistically significant. Overall, the contributions of this research are twofold. First, it supports the integration of the SDGs within organizations, and second, it stimulates the demonstration of their impacts on the SDGs (the SDRs).

Although numerous articles have been published to address drivers or barriers of corporate social responsibility (CSR), some parts of the world have received less attention. In this study, I reviewed the literature, from 2010 to 2021, to identify drivers and barriers of CSR in the the Middle East and North Africa (MENA) region and compare them with the findings in western countries. (2) Methods: For this study, I used a structured literature review method. By setting the inclusion and exclusion criteria, only 28 articles remained from selected database; (3) Results: The findings revealed some CSR drivers, such as leadership styles, profitability, reputation, moral commitment, and environmental conservation are common in both regions. There are also some differences between CSR drivers, for example religious beliefs, low concentration of ownership, and company characteristics are some of the drivers in the MENA region. Maintaining social license to operate, avoiding the risks of community opposition, pressure from the government, and consumer demand tend to be more important in western countries. Common barriers in both regions are lack of financial resources, cost, lack of CSR knowledge and awareness, and ownership concentration. This review also highlighted that lack of law enforcement, lack of stakeholder communication, lack of management commitment, lack of interests, corruption, and financial debts are some of the addressed barriers of CSR in the MENA region, while cost/benefit ratio, lack of customer interest, and lack of scientific frameworks are the special barriers in western countries. (4) Conclusions: While researchers in western countries have more focus on energy sector, there is a lack of research about drivers and barriers of CSR in the MENA region in several industries, including oil and gas.

The objective of this study was to identify the factors determining a company’s corporate governance related to climate change. We analyzed the effect of various sustainability corporate governance variables on the disclosure level of climate change governance. These variables included facts such as having a dedicated sustainability executive and board committee, the mediating effect of female representation on the board of directors, number of reporting years according to TCFD, membership in a sustainability index, MSCI ESG rating, the existence of a corporate climate transition plan, a mention of the UN Global Compact and GRI, company location, as well as company size and profitability. By adopting a multi-theoretical framework that included stakeholder theory as well the legitimacy and agency theory, the underlying research study used a sample of 100 of the largest global companies by market capitalization and their reporting for the year 2020. Based on 1,400 observations for fiscal year 2020 and using correlation analysis, univariate and linear multiple regressions, we find a positive association between having a climate transition plan in place, being a leader in sustainability according to MSCI ratings, and being a DJSI constituent and the propensity to disclose information on governance for climate change. In addition, we find a company with a dedicated sustainability executive show an increased tendency to be transparent on climate governance issues. Furthermore, having a company location in a developed country is significantly and positively associated with climate change governance. Surprisingly, gender diversity in the corporate board or having a sustainability board committee did not show any significant correlation between a higher climate change governance level. The same was true for companies being active in either the extractive or non-extractive sector. Companies referring to the Global Reporting Initiative (GRI) or UN Global Compact also did not score higher in climate change governance. Neither did corporate profitability or size play a significant role. Our results are robust to variations and provide valuable insights for researchers, academics, executives, practitioners as well as regulators. As more and more companies are shifting towards a climate change reporting framework, it is of paramount importance that we are able to determine the contributing variables that lead to effective climate change corporate governance. Our results are inconsistent with stakeholder theory and are strongly suggesting that a diversified board and the existence of a sustainability committee that meets often/sufficiently may not necessarily lead to a higher level of transparency/quality regarding climate change. While more research is needed, knowing that a dedicated sustainability executive as well as having a climate plan in place can make a difference in climate change reporting, can be very beneficial to many corporate stakeholders. Given the current urgent climate change situation and the crucial role that corporation play in it, dedicated sustainability positions and committees need to be established. The findings could be useful for managers as well as governmental standards setter and regulators who are interested in improving corporate practices dealing with climate change. This study applies STATA software with various regression models to empirically test the relationship between CG and other variables and corporate climate change reporting.