Proceedings

CONCLUSIONS
The level of environmental reporting in the case of Romanian entities is very low. The
average report in 2008, the highest of the three periods analyzed is 0,78 thus resulting
a low interest manifested by the Romanian entities towards these aspects. Because
0,78 comes close to the qualitative level 1, which shows that an entity offers general
information about a certain category of environmental information, we could say that
the entities of Romania offer only general information regarding their impact on the
environment, incomplete and irrelevant information for its users;
The environmental information category which got the highest score or the
environmental aspects most often offered by the Romanian entities is the information
regarding general aspects of environment management / corporative politics, and the
less tackled aspects consist of the information regarding the environmental risks /
costs / obligations. Although the latter is the most relevant information for a detailed
analysis of the entities' impact on the environment, these aspects are neglected or
hidden by the Romanian entities. They stick to general aspects regarding the
environmental management, politics, targets and objectives, without mentioning any
details.
The main source of environmental information is represented by annual reports. 44
environmental informational cases were presented in the annual reports of the entities
(generally in section 1.1.6), which shows that annual reports are the main sources of
information of the entities of Romania. Also, the entities' sites (for those that have
one) and the explaining notes to the financial situations represent relevant sources of
information regarding the environmental impact. We could also see that no entity of
Romania listed on the BVB emits a separate environmental reporting or sustainable
reporting, which have become a regular aspect for numerous entities of European
countries, both developed and in course of development.
The factors best explaining the variation of environmental reporting in the case of
Romanian listed companies are the public exposure of the company (by means of
variables like stock exchange tier and the export sales percentage), the size of the
company (by means of turnover variable), respectively the type of capital (by means
of the Romanian / foreign capital variable), explaining 64,7% of the environmental
reporting variation in the case of Romanian listed companies. The exposed
environmental information are positive information fact representing an advantage for
companies in their relations with users, and environmental reporting is not correlated
with environmental performance, which raises again the issue of objectivity regarding
these information.
ACKNOWLEDGEMENTS
This paper is part of the research project POSDRU/89/1.5/S/59184 ‘Performance and
excellence in postdoctoral research within the field of economic sciences in
Romania’, Babeş-Bolyai University, Cluj-Napoca being a partner within the project.
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