University of Vaasa - Vaasan yliopisto

Content Analysis
640
In order to be able to examine reports published by these companies, a work tool has
been devised in the form of a file/questionnaire with the G3 environmental standards.
The structure of the file/questionnaire is based on the quality and quantity of the
environmental and social information supplied by the companies in their
sustainability reports.
Analyzing these sustainability reports of the Spanish energy companies, is a
brainstorming exercise with respect to all the main indicators both side as determined
by the GRI at present. Given the purpose of this study, the analysis focuses on the
environmental dimension. Despite the complexity and indivisibility of business
interests are only those considered most relevant environmental aspects and see how
they have dealt with companies trying to meet the demands of different interest
groups.
Analysing the sustainability reports from Spanish energy companies involves an
exercise in thought regarding all the standards currently set by the GRI; explaining
the reasons why this type of report and information has been made is not as
significant as their disclosure. Given the aim of the study, the analysis focuses on
environmental dimensions, although these are largely difficult to separate from the
social and financial ones. It is necessary to know how these companies have faced up
environmental aspects that awaken the greatest interest and are most important for
the stakeholders and society as a whole.
Reports
A clear, positive development can be observed in writing reports in accordance with
the GRI standards. It is evident that the companies have made an effort to adapt to
the new standards; while in 2005, almost all of them followed the G2 guide,
published in 2002, in 2006, 6 companies followed the new G3 standard published in
the same year, which rose to 100% in 2007. Such effort in complying with the latest
standards set by the GRI creates pressures within the sector which tend to reduce
differences within it, making the companies tend towards similarity with each other
in responding to a demand for information which still has no definite shape
(DiMaggio et al, 1983). Ample evidence of the growth in the amount of information
provided is proved by the volume of reports, as shown in table 1. The differences in
the volume of information are being reduced over time, following Iberdrola, the main
producer (UNESA 07)