Sustainable Development Goals Reporting by Listed Companies in an Emerging Economy-Evidence from Nigeria

Abstract

Sustainable development goals (SDGs) have become a global agenda in recent years shaping both national and corporate institutions. At the mid-way point to 2030, the Sustainable Development Goals (SDGs) are in deep trouble. Corporate institutions are required to partner with governments in achieving the goals. The inclusion of SDGs in corporate disclosure will further enhance the quality of financial reporting and spur business leaders into action. This study explores the current state of SDG reporting by publicly listed companies in Nigeria given that the literature in this area is few. The research design was ex-facto using content analysis of annual reports of listed manufacturing and construction companies constituting a sample of thirty-four companies using ten of the seventeen sustainable development goals. The manufacturing sector scored 44 of a possible 124 representing 35% with only 9 companies making a good disclosure of SDGs. Only 1 company is the clear leader of the 3 listed in the construction sector. We conclude that corporate listed companies have a lot to do in reporting these important development goals. This study contributes to accounting literature in corporate reporting and how SDG issues are addressed in corporate information. We recommend that the regulatory agency for financial reporting, professional accounting associations, and the Stock Exchange take necessary steps to develop a framework, train, and enforce compliance to improve reporting of activities on social development goals. Government should engage business leaders to commit to accelerate business actions and reporting to achieve the SDGs by 2030.