Disclosure ambiental no setor de utilidade pública da B3: uma análise dos fatores explicativos.

Abstract

This research aims to investigate which factors explain the mandatory environmental disclosure of companies listed in B3 in utilities sector in light of the CPC 25. For this, through a content analysis, we used the Standardized Financial Statements (DFPs) for 2018. The research sample is made up of publicly traded companies belonging to the utilities sector with shares traded in B3 and, according to Law No. 10.165 / 2000 carry out medium and high environmental impact activities. Based on the theory of legitimacy and previous studies, compliance with CPC 25 was evaluated through a checklist developed. The possible influence of seven distinct variables on the level of environmental disclosure was verified. By regression using the ordinary least squares method, only the disclosure of sustainability reports was significant. By the tobit model, the variables profitability, indebtedness, current liquidity and audit were significant, however, only the audit variable presented positive coefficient. This research aims to add the existing literature, contributing to the expansion of the knowledge that permeate the environmental disclosure.