Tracing the evolution of sustainability reporting: insights from public and private energy companies

This study sets out to investigate the sustainability reporting practices of public and private companies in the energy sector, with particular attention to their evolution following the introduction of the Non-Financial Reporting Directive (NFRD). The research examines how sustainability reporting practices have evolved over time. The methodology is qualitative: a content analysis was conducted on the sustainability reports of 10 companies covering the period 2017–2023, resulting in a dataset of 70 reports. This longitudinal approach made it possible to identify significant shifts in sustainability discourse and disclosure practices within the energy sector. Given the sector’s crucial role in the impacts related to Environmental, Social and Governance (ESG) issues, the credibility and transparency of its sustainability practices are essential to achieving broader climate and social objectives. This study contributes to the literature by shedding light on the evolution of sustainability reporting in both public and private sectors, identifying key differences between SOEs and private firms in the energy industry, and offering theoretical and practical implications for academics, policymakers, and practitioners.