Do ESG Disclosures Capture Systemic Sustainability Risks? Integrating Life Cycle Sustainability Assessment into ESRS-Based Sustainability Accounting
ESG開示はシステム全体のサステナビリティリスクを捉えているか？ライフサイクルサステナビリティアセスメントをESRSベースのサステナビリティ会計に統合する (AI 翻訳)
Radosveta Krasteva-Hristova, Biser Krastev
🤖 gxceed AI 要約
日本語
本研究は、ESRSに基づくESG開示がライフサイクル全体をカバーしているか、またサステナブルファイナンスに十分なリスク情報を提供しているかを検証する。Enel、Unilever、Siemens AGの2024年開示データを質的内容分析し、現状はエンティティ中心で次元が分断されていることを発見。これに対し、LCSA-ESRS実装モデルを提案し、バリューチェーン全体のリスク透明性向上を図る。
English
This study examines whether ESRS-based ESG disclosures cover a life cycle perspective and provide risk-relevant information for sustainable finance. Using qualitative comparative content analysis of 2024 disclosures from Enel, Unilever, and Siemens AG, it finds current reporting is entity-centered and dimensionally segmented, with limited cradle-to-grave integration. It proposes an LCSA–ESRS Operationalization Model to enhance systemic risk capture and decision-usefulness.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
本論文はEUのESRSを対象とするが、ライフサイクル思考を開示基準に組み込む手法は、現在策定中のSSBJ基準や日本企業の統合報告にも示唆を与える。特に、バリューチェーン全体のリスク可視化は、日本のサプライチェーン対応やScope3開示強化に役立つ。
In the global GX context
This paper contributes to the global disclosure debate by demonstrating how life cycle assessment can be operationalized within ESRS-based reporting. Its findings are relevant for ISSB, CSRD, and other standard-setters seeking to improve risk transparency and systemic coherence in sustainability disclosures.
👥 読者別の含意
🔬研究者:Provides a framework for operationalizing life cycle thinking in sustainability accounting, useful for scholars studying disclosure quality and risk transparency.
🏢実務担当者:Corporate sustainability teams can use the proposed LCSA–ESRS model to identify gaps in value chain reporting and enhance risk coverage.
🏛政策担当者:Policymakers refining sustainability reporting standards (e.g., ESRS, ISSB) should consider integrating life cycle assessment to improve coverage of systemic sustainability risks.
📄 Abstract（原文）
This study examines whether ESRS-based ESG disclosures capture a life cycle perspective and whether they provide sufficiently risk-relevant information for sustainable finance decision-making. Drawing on Life Cycle Sustainability Assessment (LCSA), the paper analyzes the extent to which sustainability reports of major European non-financial enterprises reflect upstream, operational, downstream, and end-of-life impacts. The study applies qualitative comparative content analysis to the 2024 sustainability disclosures of Enel, Unilever, and Siemens AG. The findings indicate that ESG reporting remains predominantly entity-centered, indicator-based, and dimensionally segmented. Although value chain impacts and circular economy initiatives are increasingly disclosed, comprehensive cradle-to-grave integration remains limited. Environmental life cycle elements are more visible than social and economic dimensions, while cross-dimensional integration across life cycle stages is weak. These limitations may reduce the ability of ESG disclosures to capture systemic sustainability risks, including transition risks, supply chain vulnerabilities, and long-term value chain externalities. In response, the study proposes an LCSA–ESRS Operationalization Model based on boundary reconfiguration, stage-based indicator mapping, dimensional harmonization, and an accounting translation layer. The paper contributes to sustainability accounting and sustainable finance by showing how life cycle thinking can enhance the decision-usefulness, risk transparency, and systemic coherence of ESRS-based reporting.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.20944/preprints202606.1427.v1first seen 2026-07-18 06:07:16
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