The impact of non-financial reporting standards on Swiss-based multinationals
SONAR|HES-SO
- Brestaz, Alexia
- Godinet, Sylvain (Degree supervisor)
- Genève : Haute école de gestion de Genève
57 p.
Bachelor of Science HES-SO in International Business Management: Haute école de gestion de Genève, 2024
English
Nowadays, sustainability and corporate social responsibility play a crucial role in reshaping the way people and businesses act, produce, buy and consume. The aim of this thesis is to investigate the impact of non-financial reporting standards on Swiss-based multinational companies, focusing on the Corporate Sustainability Reporting Directive (CSRD), the Corporate Sustainability Due Diligence Directive (CS3D or CSDDD), and the counter-project of the Swiss Code of Obligations (CO).
The research as well as the various interviews conducted revealed a certain level of complexity and a large number of different standards implemented. Therefore, the introduction of numerous sustainability standards has led to significant internal restructuring within companies. New departments and positions have been created like "Head of Sustainability" to manage compliance and enhance the shift towards sustainable business conducts.
Companies demonstrate a mixed mindsets, with some focused on regulatory compliance and others genuinely committed to sustainable practices. Financial concerns, including restructuring and compliance costs, pose challenges, although demands from suppliers and consumers are driving companies to adopt more sustainable operations.
In addition, emerging markets stand to benefit significantly from improved corporate practices, which could attract more foreign investors and promote better working conditions and environmental protection. However, they are not yet as comfortable with non-financial reporting standards as in Europe, for example, and need support in this area.
To address these challenges, the thesis recommends harmonizing global standards to simplify compliance, increasing penalties for non-compliance to ensure rigorous adherence, and supporting emerging markets in adapting to these standards in order to enhance their social and economic development.
This study demonstrates that while non-financial reporting standards are driving Swiss-based multinationals towards sustainability and positive change, tackling the complexity of standards, cost management, and enforcement is crucial for effective implementation.
The research as well as the various interviews conducted revealed a certain level of complexity and a large number of different standards implemented. Therefore, the introduction of numerous sustainability standards has led to significant internal restructuring within companies. New departments and positions have been created like "Head of Sustainability" to manage compliance and enhance the shift towards sustainable business conducts.
Companies demonstrate a mixed mindsets, with some focused on regulatory compliance and others genuinely committed to sustainable practices. Financial concerns, including restructuring and compliance costs, pose challenges, although demands from suppliers and consumers are driving companies to adopt more sustainable operations.
In addition, emerging markets stand to benefit significantly from improved corporate practices, which could attract more foreign investors and promote better working conditions and environmental protection. However, they are not yet as comfortable with non-financial reporting standards as in Europe, for example, and need support in this area.
To address these challenges, the thesis recommends harmonizing global standards to simplify compliance, increasing penalties for non-compliance to ensure rigorous adherence, and supporting emerging markets in adapting to these standards in order to enhance their social and economic development.
This study demonstrates that while non-financial reporting standards are driving Swiss-based multinationals towards sustainability and positive change, tackling the complexity of standards, cost management, and enforcement is crucial for effective implementation.
- Language
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- English
- Classification
- Economics
- Notes
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- Haute école de gestion Genève
- International Business Management
- hesso:hegge
- Persistent URL
- https://sonar.ch/global/documents/330908
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