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European countries are likely to increasingly adopt integrated reporting (IR) voluntarily, after the 2014/95/EU Directive is revised and other initiatives are implemented. Therefore, the present study provides insights on the relevance of IR in voluntary contexts by exploring analysts' reactions to the release of integrated reports in diverse institutional settings.

Drawing on voluntary disclosure theory, a quantitative empirical research method is used to explore the moderating role of country-level institutional characteristics on the associations between voluntary IR release and analyst forecast accuracy and dispersion.

IR informativeness is not uniform in the voluntary context and institutional settings play a moderating role. IR release is associated with increased consensus among analyst forecasts. However, in countries with weak institutional enforcement, a reverse association is detected, indicating that analysts rely largely on IR where the institutional setting strongly protects investors. Although a strong institutional setting boosts the IR release usefulness in terms of accuracy, it creates noise in analyst consensus.

Academics can appreciate the usefulness of voluntary IR across the institutional enforcement contexts.

Managers can use these findings to understand opportunities offered by IR voluntary release. The study recommends that policymakers, standard setters and regulators strengthen the institutional enforcement of sustainability disclosure.

This study is a unique contribution to recent calls for research on the effects of nonfinancial disclosure regulation and on IR “impacts”. It shows on the international scale that IR usefulness for analysts is moderated by institutional patterns, not country-level institutional characteristics.

Bangladesh is one of the most flood-prone countries in the world. A number of research works have identified that the flood scenario will be aggravated with climate change context in Bangladesh. In 2014, Bangladesh had prepared municipal level master plan for 222 municipalities with a view to planned urban development. But climate change-induced flood has not been considered in master plan, which poses a question toward the sustainability of the plan. Ullapara Municipality of Sirajganj district has been selected to conduct the research. This study aims to evaluate how infrastructure in proposed master plan will be exposed to climate change-induced flood.

The methodology of this study follows geographic information system (GIS)-based flood exposure analysis of selected infrastructure. These infrastructures include transport infrastructure, educational infrastructure, health infrastructure and other urban facilities. Climate change-induced flood for the year 2040 has been used for flood exposure analysis.

It is evident from the flood exposure analysis that about 33.99% roads will be exposed to 1.5 m–2 m inundation level; seven primary school, six secondary school and four colleges would be highly exposed to 2.0 m–2.50 m inundation level; four health facilities would be exposed to 1.0 m–2.0 m inundation level because of future climate change. This inundation scenario for long duration will lead to dysfunction of concerned infrastructure and, in turn, undermine the stability of a socioeconomic system of Ullapara Municipality.

As the master plan is not fully implemented till now, there is scope for intervention for considering climate change-induced flood to make the plan sustainable.

Economic integration in the 21st century is driven largely by market signals, rather than by inter-governmental trading arrangements. It also means much more than “free trade.” Integration needs to consider all of the ways economies are connected in international markets, including trade in goods, services ideas and information, along with essential and complementary international movements of people and capital.

Except for a small number of sensitive products, especially in agriculture, most goods and services face no, or very low, formal trade barriers. Reducing border protection of the remaining sensitive products will certainly require negotiations, but they are no longer the most strategic obstacles to economic integration.

These days, the problems of most concern of those engaged in international commerce are logistics, communications, coping with security concerns and with different regulations in other economies. The effective constraint to designing and implementing cooperative arrangements to reduce such costs or risks of international commerce is the capacity to do so, rather than political resistance. Inter-governmental negotiations are not always necessary to deal with these practical issues.

Therefore, it should be possible to have a logical division of effort between APEC and the WTO in the Asia Pacific with the WTO dealing with those issues that do need to be negotiated; and APEC dealing with the many other issues where negotiations are not needed. In the longer term, an efficient division of labour could also emerge between the G20 and the WTO.