Stamatios K. Chrysikopoulos

This study examines how double materiality is structured and disclosed during the early implementation of the European Union’s Corporate Sustainability Reporting Directive (CSRD) and the corresponding European Sustainability Reporting Standards (ESRS). While prior research has primarily focused on the identification of material topics, less attention has been given to the way these elements are organized within corporate reporting systems. To address this gap, the concept of disclosure architecture is adopted as an analytical lens. The analysis is based on sustainability statements published for the 2024 reporting period by seven large European oil and gas companies. Employing qualitative content analysis, the study applies an ESRS-based analytical framework operationalized through a structured coding scheme. Given the transitional nature of the 2024 reporting cycle, this framework provides a common analytical basis for examining how companies structure and present double materiality disclosures despite differences in reporting approaches. The framework captures two related aspects of reporting: disclosure content, specifically impact and financial materiality, and disclosure structure, including formal double materiality framing and the use of transition-related tools. The findings indicate a clear asymmetry in double materiality disclosure. Impact-related disclosures are highly standardized across companies, reflecting a shared reporting baseline shaped by regulatory expectations and industry norms. In contrast, notable differences emerge in financial articulation, formal double materiality framing, and the positioning of transition-related tools. These patterns suggest that differences emerge less in the disclosed topics themselves and more in how disclosure elements are structured and connected within sustainability statements. Building on these observations, the study identifies recurring disclosure architecture configurations observed within the sample, described as Structured Integrators, Emerging Integrators, and Selective Adopters. These recurring disclosure patterns help illustrate the different ways companies present and connect regulatory requirements, financial considerations, and transition-related elements within disclosures. The study contributes to the literature by shifting the focus from disclosure content to disclosure structure. In doing so, it provides a framework for examining how double materiality is represented and structured within reporting systems and offers insights into the coexistence of convergence and variation in sustainability disclosures examined through an ESRS-based analytical lens during the early phase of CSRD implementation.

The rising energy demands of data centers combined with increasing sustainability requirements require the integration of green energy solutions. This study identifies and analyzes the Critical Success Factors (CSFs) that affect the effective adoption of green energy in data centers, addressing both technical and organizational challenges. Through a systematic literature review and expert validation, eleven key CSFs were identified, encompassing aspects such as energy efficiency, renewable energy integration, carbon neutrality strategies, regulatory compliance, and investment strategies. This study employs the Decision-Making Trial and Evaluation Laboratory (DEMATEL) methodology to explore the interdependencies among these factors, mapping causal relationships within the CSF network. The findings indicate that governance and organizational culture, along with investment strategy, are the most influential CSFs, driving the effectiveness of energy transition efforts. Carbon neutrality strategies serve as a crucial mediating factor, linking governance and financial commitment to operational sustainability outcomes. Additionally, renewable energy integration and regulatory compliance act as structural mediators, ensuring that governance-led sustainability initiatives result in practical, measurable impacts. These insights provide a strategic roadmap for data center operators, policymakers, and industry stakeholders to prioritize interventions that promote a resilient and sustainable energy transition. By clarifying the cause-and-effect dynamics within the green energy adoption framework, this study contributes to the development of more effective policies and investment strategies aimed at reducing the carbon footprint of data centers and enhancing their long-term sustainability.

The critical importance of effective industrial symbiosis is emphasized in the rapidly evolving landscape of manufacturing, energy, and environmental sustainability. This study employs the Decision Making Trial and Evaluation Laboratory (DEMATEL) methodology to examine and outline the complex interrelationships among critical success factors (CSFs) pivotal for the successful implementation of industrial symbiosis. Key findings indicate that leadership and technology are the most significant causal CSFs, driving positive outcomes in waste reduction, environmental impact, and economic growth, identified as primary effect factors. Leadership emerges as the predominant influence, guiding strategic alignment, fostering a collaborative and sustainable organizational culture, and affecting all other CSFs. Technological integration acts both as a direct driver of operational efficiency and as a mediator of leadership’s influence, enabling optimized resource flows and data-driven decision-making. Additional CSFs such as clear communication, enhanced training and education, and policy and regulatory support also serve as essential mediators connecting leadership to key outcomes. This research outlines an actionable pathway for stakeholders, including policymakers, engineers, and corporate executives, to strategically prioritize and utilize these CSFs to promote more resilient and sustainable industrial ecosystems.

This study examines the adoption of Power Purchase Agreements (PPAs) and Renewable Energy Certificates (RECs) as strategic tools for decarbonization in the oil and gas sector. Focusing on the 21 largest oil and gas companies across Europe, North America, and South America, the analysis reveals varied adoption rates and strategic emphases between regions. European companies exhibit robust integration of PPAs and RECs to expand renewable energy capacities and reduce emissions, aligning closely with aggressive EU climate policies. In contrast, American companies show a cautious approach, focusing more on emission reduction from existing operations than on renewable expansions. The study’s findings indicate that, while both regions are advancing in their decarbonization efforts, European companies are leading with more defined renewable energy targets and comprehensive low-carbon strategies. This research contributes to understanding how different regulatory environments and market conditions influence corporate strategies towards sustainable energy transitions in traditionally hard-to-abate industries.

In recent years, sustainability initiatives and the prominence of renewables have emerged as pivotal priorities in addressing environmental, ecological, and socioeconomic challenges. Within this context, green certificates—representing proof of electricity generation from renewable sources—have gained substantial recognition, enabling organizations to demonstrate their commitment to clean energy. This study employs a bibliometric analysis to chart the evolution and current state of green certificates research. Drawing from the Scopus database, we sourced bibliographic data, resulting in a refined dataset of 940 documents spanning from 2000 to 2022. Through performance analysis, we systematically evaluated the landscape of green certificates research, assessing publication trends, identifying influential works, spotlighting prolific authors, highlighting leading academic institutions, mapping regional research hotspots, and pinpointing the top publishing journals in the domain. Employing science mapping techniques—such as co-authorship networks, keyword co-occurrence analysis, and bibliographic coupling—we delineated the collaborative patterns and the conceptual and intellectual structure of the field. This was further augmented by content analysis, revealing four salient research themes, emphasizing the consistent and central focus on support mechanisms and policies for renewable energy sources, sustainable renewable technologies and market dynamics, technological innovations and green certificate trading, and renewable energy sources investment strategies. Building on these findings, the paper concludes by outlining practical implications and prospective research avenues. These encompass a detailed understanding of renewable energy support mechanisms, the pivotal role of electricity disclosure in enhancing transparency, and the transformative potential of emergent technologies, such as artificial intelligence and blockchain, in the green certificate trading landscape. The research also emphasizes the fundamental role of guarantees of origin in advancing sustainability goals, the dynamic discourse on green hydrogen certification standards, and the intricate dynamics of trading mechanisms in shaping investment strategies.