Sustainability Disclosures in the EU Textile Industry: Past, Present, and Future
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Journal Title
Journal ISSN
Volume Title
School of Business |
Bachelor's thesis
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Author
Date
2023
Department
Major/Subject
Mcode
Degree programme
Laskentatoimi
Language
en
Pages
30+7
Series
Abstract
Sustainability disclosures in the European textile industry have significantly evolved over the course of the past few decades. The changes throughout history have contributed to the turning point happening currently in sustainability reporting. The European Union is at the forefront of global development in sustainability reporting which makes the EU a highly attractive landscape for research. In the EU, the textile industry holds a remarkable role both economically and socially, however, the sustainability-related issues within the industry call for action. Sustainability reporting plays a vital role in addressing the environmental and social challenges and thus, by successful sustainability disclosures European textile companies can contribute to achieving the EU’s target of becoming climate neutral by 2050. In the future, the upcoming sustainability disclosures are expected to become as important as financial disclosures are from a reporting perspective. As seen through Marimekko’s reporting practices from 2000 to 2022, sustainability disclosures have evolved profoundly for textile and clothing companies in the EU. However, much of sustainability reporting has also been disclosed willingly as a display of companies’ commitment to CSR and thus, work remains to be done in order for companies to fully account for sustainability.Description
Thesis advisor
Pham, LyKeywords
sustainability reporting, sustainability disclosures, textile industry, EU, CSR, GRI, IFRS, NFRD
