The Voluntary Adoption of Integrated Reporting for Releasing Sustainability and Circular Economy Disclosure: An Empirical Case

This paper aims to examine the rationale underlying the voluntary adoption of the integrated report (IR) for sustainability dis closure by a company (Coopservice) that is not required to adopt the sustainability reporting requirements (at the time of the research, the Non- Financial Reporting Directive 2014/95/EU), based on interviews with key board members involved in the preparation of the IR. The findings reveal that the company decided to voluntarily adopt the IR mainly because of institutional pressures and its willingness to meet its stakeholders' information needs. Furthermore, the case shows how the company has interpreted sustainability as a strategic value closely linked to the principles of the circular economy, adopting practices to opti mise resources, reduce waste and obtain environmental certifications. This research contributes to the literature on voluntary disclosure by highlighting the link between IR and the circular economy in small and medium- sized enterprises (SMEs), suggest ing that IR can serve both as a communication tool and as a lever for the development of circular practices, also offering useful insights for policy makers and managers interested in promoting sustainable development and CE pathways in SMEs.