Nachhaltigkeitsberichtserstattung und -kennzahlen in der Bauindustrie: Chancen und Risiken nach ESG und EU-Taxonomie

Abstract

The concept of sustainability was shaped in the 18th century by Carl von Carlowitz. In today's business world, the term ESG, which addresses economic, ecological, and social aspects, has become the standard for evaluating corporate activities in the sustainability sector. Given the pressing challenges of climate change, ecological and social aspects are gaining increasing importance. Stakeholders demand accountability for sustainability activities from companies. Companies are required to intensify their sustainability efforts and communicate transparently, supported by guidelines from organizations such as the Global Reporting Initiative. In the context of the European Green Deal, the European Union has taken initiatives to steer the economy towards more sustainable investments, resulting in the development of the EU Taxonomy Regulation. This regulation defines criteria for sustainable activities and sets six environmental objectives that economic activities can be assigned to. The performance of these activities is measured using Key Performance Indicators (KPIs). Large coporates are required to disclose KPIs that conform to the taxonomy. The construction industry, characterized by its high resource and personnel requirements, significant energy consumption, and CO2 emissions, is particularly targeted by the Green Deal. It is expected to promote sustainable construction processes, reduce resource use, and make sustainable investments. Adequate metrics are necessary for evaluating such measures. The aim of this work is to outline the opportunities and risks of implementing taxonomy-compliant sustainability metrics in the ESG context for the construction industry. Furthermore, the role of controlling in steering and monitoring sustainability activities is discussed. The stakeholder theory is used as a theoretical framework for evaluating sustainability reports from the construction industry. A thorough literature review, serving as the basis for the empirical analysis of sustainability reports of Austrian construction companies, has been conducted. The sustainability reports of the four leading Austrian construction companies, Strabag SE, PORR AG, Wienerberger AG, and Swietelsky AG, were analyzed, particularly focusing on the Triple Bottom Line approach, the Stakeholder Theory, and stakeholder engagement. Finally, statements about the construction industry were made in the discussion. The analysis concludes that meeting stakeholders' needs regarding sustainable practices and considering social and ecological minimum standards take precedence and are considered in the materiality analyses of the examined companies. Calculating taxonomy-compliant metrics is currently challenging due to a lack of transparency in supplier and client data. Specialized software tools are recommended for capturing sustainability data, as popular tools like Microsoft Excel will not be sufficient. Controllers currently act as data collectors and analysts, responsible for consolidating sustainability data.

Date of Award	2024
Original language	German (Austria)
Supervisor	Melanie Lubinger (Supervisor)