The Global Reporting Initiative (GRI) has welcomed the findings of the most recent global survey from KPMG which finds that disclosure on corporate economic, environmental and social performance has become the norm among larger companies globally. Now, over 80 per cent of Global Fortune 250 companies (G250) disclose their sustainability performance in “sustainability” or “corporate responsibility” reports.
The KPMG survey also looked at the largest hundred companies by revenue in 22 countries and found that overall uptake of sustainability reporting was 45 percent with wide variation between countries.
The survey reveals that 70 percent of the reporting companies worldwide use the GRI Guidelines.
Report author Wim Bartels, Global Head of KPMG's Sustainability Services said: "Credible reporting needs to be based on credible standards. We value the increase in reports that are based on the GRI guidelines as this contributes to the comparability and professionalism of Corporate Responsibility reporting."
Investors, consumers, employees and other stakeholders are increasingly seeking information on how companies are responding to the challenge of sustainability. They want to know how, in a company’s thinking, and its actions, it is addressing the critical sustainability issues of the day. Transparent disclosure against internationally recognized guidance provides companies with the opportunity to show how they are taking leadership on these issues.
However, often the greatest sustainability impacts a company has are outside of its main operations and in its supply chain. The KPMG survey reveals that 63 per cent of the G250 now present data on this topic in their reports.
The KPMG survey shows that transparency on sustainability performance has come a long way in recent years, but the journey is far from over.
Read the KPMG International Survey of Corporate Responsibility Reporting 2008 here.
Read the full press release here.