第2回「ウォーク・ザ・トーク」レポート：CSRDがフィンランド上場企業のサステナビリティパフォーマンスに与える影響

Unofficial AI-generated summary based on the public title and abstract. Not an official translation.

🔬研究者:CSRDが企業のサステナビリティパフォーマンス報告に与える影響を実証的に示した点が有用。

🏢実務担当者:開示要件の強化が実際のパフォーマンス改善につながる可能性を示唆し、自社の報告戦略に示唆を与える。

🏛政策担当者:規制の効果を評価する上で、CSRD導入後の企業行動の変化を捉えた貴重なデータを提供。

This report is the second in a series examining sustainability reporting practices among Finnish listed companies. In this study, we are aiming to investigate the impact of the implementation of CSRD by analyzing the changes in corporate reporting behaviors in the context where the EU sustainability-related regulations are rapidly evolving with persistent uncertainties. The analysis builds partly on the results from our first report published in 2025. Using a sample of 172 companies listed on the Helsinki Stock Exchange, we find that 80% of companies in the sample continue to exhibit a “talk more than walk” pattern, although the share has decreased from 89% in the previous year. While the average Talk score slightly increase, the average Walk score significantly increases by approximately 15.7% (from 8.62 to 9.97). It possibly suggests that the implementation of CSRD, with its more structured and harmonized disclosure requirements, has improved companies’ reporting of their actual sustainability performance. Further analysis shows that, compared to FY2023, Mid Cap and Small Cap companies significantly improved their Walk scores. Small Cap firms remained below the sample average in both Talk and Walk scores, but showed notable convergence toward the average compared to the previous year. First North listings continue to display below-average performance, despite modest improvements in both Talk and Walk scores. Finally, a comparison of selected key indicators demonstrates an overall improvement in sustainability reporting practices in the post-CSRD period.

• openalex http://hdl.handle.net/10138/637151first seen 2026-08-30 04:46:15