Research Article

Materiality Conditions in the Interplay between Environment and Financial Performance: A Graphical Modeling Approach for EEA Oil and Gas Companies

Table 1

Independent variables included within the econometric models.

AcronymDetailsUnit of measureCategory

P_emissPolicy Emissions, if the company has a policy to improve emission reduction. Policy measureBinaryEP (greenhouse gas, GHG, emissions category)
T_emissTargets Emissions, if the company has set concrete targets to achieve emissions’ reduction. Target measureBinary
CO2CO2 Equivalent Emissions Total, the total amount of carbon dioxide (CO2) and CO2 equivalents emitted. Concrete measureTones
NoxNOx and SOx Emissions Reduction, if the company reports any initiative to reduce, reuse, recycle, or cut out the NOx or the SOx emissions. Policy measureBinaryEP (air quality category)
Voc_emissVOC or Particulate Matter Emissions Reduction, if the company reports any objectives to reduce or cut out the volatile organic compounds (VOC). Target measureBinary
EmissNOx Emissions, the amount of NOx emissions emitted. Concrete measureTones
P_energyPolicy Energy Efficiency, if the company has a policy to improve energy efficiency. Policy measureBinaryEP (energy management category)
T_energyTargets Energy Efficiency, if the company has set targets to achieve energy efficiency. Target measureBinary
EnergyEnergy Use Total, as total direct and indirect energy consumption. Concrete measureGigajoules
P_waterPolicy Water Efficiency, if the company has a policy to improve water efficiency. Policy measureBinaryEP (water and wastewater management category)
T_waterTargets Water Efficiency, if the company has set targets to achieve water efficiency. Target measureBinary
WaterWater Withdrawal Total, the volume of water withdrawn. Concrete measureCubic meters
P_wasteWaste Reduction Initiatives, if the company reports any initiative to reduce, reuse, recycle, or cut out the waste Policy measureBinaryEP (waste and hazardous materials management category)
E-wastee-Waste Reduction, if the company reports any initiative to reduce, reuse, recycle, or cut out the e-waste. Target measureBinary
WasteHazardous Waste, the amount of hazardous waste produced. Concrete measureTones
P_chemicToxic Chemicals Reduction, if the company reports any initiative to reduce, reuse, recycle, or cut out the toxic chemicals. Policy measureBinaryEP (ecological impact category)
Land_envLand Environmental Impact Reduction, if the company reports any initiative to reduce environmental impact on land owned. Target measureBinary
Env_expEnvironmental Expenditures, total amount of environmental expenditures reported. Concrete measureMonetary units

Binary: true = 1; false = 0. Source: own contribution.