Sustentabilidade das empresas com potencial poluidor: uma análise dos capitais não financeiros (integrated reporting), ODS E ESG.

Abstract

The main objective of this thesis is to analyze the contribution of the SDGs, ESG, and nonfinancial capital (intellectual, human, natural, social, and relationship) of Integrated Reporting to the Sustainability of companies with medium and high polluting potential. Given this, exploratory, descriptive, and mixed character research was adopted as materials and methods, as it used qualitative and quantitative approaches. The sample consisted of all public companies listed on the Brazilian Stock Exchange (Brasil, Bolsa, Balcão - B3), with data available and published in the integrated reports and sustainability reports from 2016 to 2021. Regarding nonfinancial capital, it was verified that the most relevant capitals, in terms of disclosure, were the natural, social, and relationship capitals, both in the overall result and in the classification of medium and high polluting potential. They demonstrated that organizations are geared towards meeting the most current demands of society and the market, evidencing adequate environmental management of resources and ecosystem services; and emphasizing in its reports the concern with climate change and the reduction of greenhouse gas emissions. Concerning the SDGs, it was observed that the disclosure of the information is in the process of consolidation, with a still incipient condition for disclosure being verified. Within the scope of the ESG Score, it was identified that organizations classified as high polluter potential had the best score, compared to the average polluter potential. It was detected that, among the three categories of legitimacy, Pragmatics was the most evident, especially the subcategory gaining legitimacy. Among the contributions of this study, the following stand out: first, the restructuring proposal for adherence level 1 of the KPIs, with a new scale, validated by the results, for the study of levels of disclosure of information no. The SDGs, research made a contribution to the principles of dissemination of the SDGs of the model by Adams, Druckman, and Picot (2020). Concerning the ESG score, it was identified that the organizations that presented the best scores are inserted in the Novo Mercado of B3 (Brasil, Bolsa, Balcão). Therefore, it is possible to conclude that organizations use non-financial capital, sustainable development objectives, and ESG practices as validation instruments, before society and the Financial Market. Therefore, they make use of these instruments, from the perspective of the Theory of Legitimacy, aiming to legitimize their operations and commercial activities, to maintain their image and reputation. Finally, these findings may also be associated with the need that these organizations have to disclose a much broader set of environmental, social, and corporate governance information, seeking social and environmental legitimacy to continue operating with society, consolidating the social contract signed.