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    Investigating the quality and drivers of sustainability reporting in the electricity industry : a global context : a thesis submitted in partial fulfilment of the requirements for the degree of Doctor of Philosophy in Accounting at Massey University, Albany, New Zealand
    (Massey University, 2024-11-07) Marasigan, Alva
    This research investigates the quality and determinants of sustainability reporting in the electricity industry, in particular the electricity generation sector. Electricity is a major driver of economic development and a major influence on climate change, hence an interesting setting for this study. Understanding the trends and determinants relating to the quality of sustainability reporting (QSR) may contribute to improved QSR and consequential improvements in transparency, accountability, and value creation. Part 1 of this study is qualitative and investigates the QSR of 100 electricity generators included in the S&P Platts Top 250 Global Energy Companies Rankings for 2021. The assessment of QSR is based on the qualitative characteristics of reporting, namely relevance (including materiality) and reliability. Content analysis of sustainability disclosures during 2018-2020 suggests the QSR of sample companies is relatively high and improving over time. Companies in countries with mandatory sustainability reporting regimes generally tend to achieve higher QSR. Part 2 of this study is quantitative and concerns testing selected determinants of QSR through regression analyses. Findings suggest that sustainability performance, use of the Global Reporting Initiative framework, and institutional shareholding have significant positive impacts on all QSR measures, while foreign shareholding has the same effect on relevance and overall QSR (contemporaneous as well as one-year lagged effects). Rule of law and carbon pricing policy have significant negative effects on relevance (contemporaneous as well as one-year lagged effects) while gender diversity shows the same effect on reliability (one-year lagged effect only). Rule of law also has a significant negative influence on overall QSR but only when testing for one-year lagged effects. Robustness and additional tests support these results. This study extends the existing literature on sustainability reporting by providing a holistic longitudinal, global, as well as an environmental, social, and economic perspective on QSR in the electricity industry. It also covers a wider range of QSR determinants than most others and improves on the precision of QSR measurement. This study may be useful to regulators and standard setters in their efforts to harmonise sustainability reporting and provides useful insights to decision makers and practitioners on the need to link sustainability disclosures to sustainability performance, as well as stakeholder activities, assurance considerations, and materiality.
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    Climate change : a global issue : is a renewable energy target an effective response for the New Zealand electricity sector? : a thesis presented in partial fulfilment of the requirements for the degree of Master of Applied Science at Massey University
    (Massey University, 2001) Dyson, Tracy Jennifer
    The main objective of this thesis is to investigate the effectiveness of a mandatory renewable energy target (MRET) in reducing greenhouse gas (GHG) emissions from the electricity sector. New Zealand's electricity sector emissions have grown at a rapid rate over the last decade ( + 19%) due to an increasing reliance on thermal generation plant. Since the mid 1980's there has been increasing scientific evidence and acceptance that GHG emissions caused by human activity are reducing the amount of solar heat that would otherwise be radiated back out into space leading to climate change. The Intergovernmental Panel on Climate Change (IPCC) has found new and stronger evidence that most of the observed warming of the past 50 years is attributable to human activities. The IPCC findings show potential for significant changes in temperature ( 1.4-5.8°C by 2100), rainfall patterns and sea level (9-88cm by 2100) and adverse weather events. This will impact on the global economy, the natural environment and the quality of life for present and future generations. The Kyoto Protocol is the international vehicle for fighting anthropogenic climate change by reducing GHG emissions. Despite the US withdrawal from the Protocol in 200 l, it could still enter into force and countries that ratify it could have legally binding GHG emission responsibilities by late 2002. Domestic policy and legislation presently under development will guide New Zealand's efforts to reduce GHGs and meet its future Kyoto Protocol commitments. To assess the impact of a possible MRET, a tool was developed which evaluates the effect of five different MRET scenarios on the electricity sector's GHG emissions, the wholesale price of electricity and the level of renewable energy supply. It was found that an MRET is an effective method of reducing GHGs and increasing the level of renewable energy supply, however this effectiveness depends on the level of the target. The higher the target the higher the electricity price, which will also increase if inappropriate investment decisions lead to plant redundancy or oversupply of the market. Implementing energy efficiency measures with an MRET further reduces GHG emissions. If existing renewable generation was prioritised over thermal generation then environmental outcomes are further improved.