Sustainability Reporting during the Crisis—What Was Disclosed by Companies in Response to the COVID-19 Pandemic Based on Evidence from Poland

Abstract

This study presents the results of sustainability reporting investigations in the context of the COVID-19 pandemic. It is based on a content analysis of 297 reports published by 161 companies operating in Poland in the 2020–2021 period. This study covers specific disclosures on the impact of the pandemic on economic conditions and business activity of companies, corporate environmental performance, the safety and well-being of employees, and companies’ community and stakeholder engagement. Moreover, an analysis is conducted of disclosures on changes in business strategies and environmental activities undertaken to respond to the pandemic, initiatives improving the safety and well-being of employees, and companies’ social involvement during the COVID-19 crisis. Our study demonstrates that ensuring the safety and well-being of employees was the highest priority in the analyzed sustainability reports. Furthermore, the investigated companies exerted considerable efforts to harmonize adverse economic challenges created by the pandemic with altruistic actions manifested in active and wide-ranging social involvement addressed to local communities and primary stakeholders during the period under analysis. We believe that our study offers intriguing insights into disclosures on sustainability issues during the COVID-19 pandemic and addresses the call for research on the sustainability initiatives that emerged during that time to help companies remain resilient and sustainable.