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Objectives of the study are to identify the extent and types of environmental disclosures of Sri Lankan public listed companies and to examine significance differences among the listed companies regarding the level of quality as well as quantity of environmental disclosures. The study employs legitimacy and stakeholder theories as the basis for explaining environmental reporting practices. By reviewing 284 companies annual reports published in 2012/2013, it was observed that 134 companies disclosed environmental information i.e. 47%. Out of them, 74% of (99) companies are selected by using proportionate stratified random sampling according to business sector as a sample to carry out the study. Descriptive statistics, Kruskal Wallis and Mann–Whitney tests were used to analysis the study. Results of the study show that companies disclose more soft environmental information than hard environmental information. Moreover, it is noted that a statement of corporate environmental policy, values and principles, environmental codes of conduct is disclosed by 78 companies. Notably diversified companies disclose more environmental information. Next to that bank, finance and insurance companies disclose. Further, it is noted that diversified and bank, finance and insurance companies significantly differ from manufacturing and beverage food and tobacco companies regarding quality as well as quantity of environmental disclosures. The findings from this research could provide relevant insights both to the companies, the stakeholder and the regulators in order to devise ways and means on how to move forward.

Keywords: Environmental reporting, GRI, Legitimacy theory, Stakeholder theory.

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