MATHEMATICAL MODELLING OF SOCIO-ECONOMIC PROCESSES AND SYSTEMS
Conceptual model for developing a Sustainability Balanced Scorecard – taking into account ESG aspects
- 1 University of Sopron, Alexandre Lamfalussy Faculty of Economic, Hungary
Abstract
Sustainability is a complex issue and framework for companies, with the common goal of meeting economics, environmental awareness and social justice. The focus should be on achieving medium- and long-term goals, and the environmental and social impacts of corporate operations should be examined. The Sustainability Balanced Scorecard, which takes into account ESG aspects, is one of the strategic controlling tools that can be adapted to this framework. The Sustainability Balanced Scorecard also includes a sustainability dimension to embed environmental, social or ethical considerations, including sustainability objectives and performance indicators. The paper attempts to identify the most usable, optimized Sustainability Balance Scorecard model for companies that will be part of sustainability reports in the near future. I have done research on Environmental Management Accounting / Green Controlling, the paper presents a conceptual model, using an interpretive and synthesizing approach by recombination of work in the field.
Keywords
References
- DIRECTIVE 2014/95/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL (2014) [Online], [access date: 07.02.2022], URL: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32014L0095
- EUROPEAN COMISSION (2020): Corporate sustainability reporting. [Online], [access date: 07.02.2022], URL: https://ec.europa.eu/info/business-economy-euro/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting_en
- European Securities and Markets Authority (2021): ESMA calls for legislative action on ESG ratings and assessment tools. [Online], [access date: 02.02.2022], URL: https://www.esma.europa.eu/press-news/esma-news/esma-calls-legislative-action-esg-ratings-and-assessment-tools
- Fathi, A. (2019): Sustainability Balanced Scorecard: a comprehensive tool to measure Sustainability performance. [Online], International Journal of Social Science and Economic Research. Volume: 04, Issue:02 February 2019. pp. 948-962. ISSN: 2455-8834 [access date: 02.02.2022], URL: https://www.researchgate.net/publication/331688857_SUSTAINAB ILITY_BALANCED_SCORECARD_A_COMPREHENSIVE_TO OL_TO_MEASURE_SUSTAINABILITY_PERFORMANCE
- Hasna, Abdallah. (2007). Dimensions of sustainability. Journal of Engineering for Sustainable Community Development. 1. 10.3992/2166-2517-1.2.47.
- Hampel, Gy. (2020): Egy folyóirat adatait tartalmazó adatbázis koncepciós modelljének elkészítése. JELENKORI TÁRSADALMI ÉS GAZDASÁGI FOLYAMATOK 15 : 3-4 pp. 119-132.
- Lamberton, G. (2005): Sustainability accounting — a brief history and conceptual framework. Accounting Forum 29, 7–26. Elsevier
- Rogmans, T., El-Jisr, K (2022): Designing Your Company’s Sustainability Report. [Online], Harvard Business Publishing [access date: 19.02.2022], URL: https://hbr.org/2022/01/designing-your-companys-sustainability-report
- Szóka, K. (2022): The importance of the Green Controlling – The connection of the Sustainability Balanced Scorecard and the ESG. In: 38th EBES CONFERENCE - WARSAW: PROCEEDINGS - VOLUME I. Warsaw, University of Warsaw, Faculty of Economic Sciences (2022) 1,049 p. pp. 866-880.
- Szóka, K., Gácsér, N. Gy. (2021): Sustainability accounting - historical development and future perspectives of the discipline. JOURNAL OF BUSINESS ECONOMICS AND FINANCE 14:1 pp. 1-4.
- Watson, R. T. (2006): The Essential Skills of Data Modeling. Journal of Information Systems Education. 17 (1): pp. 39–41.
- World Commission on Environment and Development (1987): Report of the World Commission on Environment and Development: Our Common Future. [Online], Oxford University Press, 1987. p. 383., ISBN 019282080X. [access date: 15.02.2022], URL: http://www.un-documents.net/our-common-future.pdf