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Corporate Social Responsibility
News
7.01.2005 ET
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KPMG Survey Shows Dramatic Increase in Corporate Responsibility Reporting
(CSRwire) The KPMG International Survey of Corporate Responsibility Reporting
2005 shows that:
The majority of the 250 biggest companies in the world issued
separate reports on Corporate Responsibility: 52 percent compared to 45
percent in 2002.
Corporate Responsibility reporting has changed from purely
environmental reporting to sustainability (social, ethical, environmental
and economic) reporting.
At national level, 41% of the companies issued separate reports. The
two top countries are Japan (80%) and the UK (71%). The highest increases
are in Italy, Spain, Canada, France and South Africa. There were
significant decreases in Norway and Sweden.
The most remarkable is the financial sector, which shows more than a
twofold increase in reporting since 2002.
The KPMG International Survey of Corporate Responsibility Reporting 2005
has been the most comprehensive survey of its kind since its initiation in
1993. This survey analyses trends in Corporate Responsibility reporting of
the world's largest corporations, including the top 250 companies of the
Fortune 500 (Global 250) and top 100 companies in 16 countries (National
100) With this vast coverage of 1600+ companies, the survey provides the
truly global picture of reporting trends over the last ten years.
Professor George Molenkamp, chairman of KPMG Global Sustainability
Services™, says that the findings of the survey are both striking and
exciting. "Corporate responsibility reporting is easier said than done. The
real challenge is in the integration of corporate responsibility into the
strategy and operations of a complex organisation in a more and more
globalising economy. We have observed increasing professionalism in the
form of new global reporting standards. Corporate responsibility
performance has definitely caught the eye of the financial sector as is
reflected in recent developments, such as the so-called Equator
Principles, the Dow Jones Sustainability Index (DJS) and the FTSE4 Good
Index on the stock markets and the emergence of Social Responsible
Investment funds. The awareness of the financial implications of climate
change issues on businesses is also growing among the financial sector
after the introduction of the European Union Emissions Trading Scheme and
the ratification of the Kyoto Protocol."
Annex to press summary KPMG Global Sustainability Services
Major findings of the KPMG International Survey of Corporate
Responsibility Reporting 2005:
Corporate Responsibility (CR) reporting has been steadily rising
since 1993 and it has increased substantially in the past three years. In
2005, 52% of the Global 250 and 33% of the National 100 companies issued
separate CR reports compared to 45% and 23% respectively in 2002. If we
include annual financial reports with CR information, these percentages
are even higher: 64% (G250) and 41% (N100).
There has been a dramatic change in the type of CR reporting, which
has changed from purely environmental reporting up until 1999 to
sustainability (social, environmental and economic reporting), which has
now become mainstream among G250 companies (70%) and is fast becoming so
among N100 companies (50%).
Although the majority (80%) in most countries still issue separate CR
reports, there has been an increase in the number of companies publishing
CR information as part of their annual reports.
At national level, the two top countries in terms of separate CR
reporting are Japan (80%) and the United Kingdom (71%). The highest
increases in the 16 countries in the survey are seen in Italy, Spain,
Canada, France and South Africa. There have been significant decreases in
Norway and Sweden.
The typical industrial sectors, with relatively high environmental
impact, continue to lead in reporting. At global level (G250), more than
80% of the companies are reporting in the electronics & computers,
utilities and automotive & gas sectors. At national level (N100), over 50%
are reporting in the utilities, mining, chemicals & synthetics, oil & gas,
forestry and paper & pulp sectors. But the most remarkable is the
financial sector, which shows more than a two-fold increase in reporting
since 2002.
The survey includes a detailed analysis of the reports of the Global
250 companies, focused on why they are committed to corporate
responsibility and what influenced the content of the reports. The
conclusion is that business drivers are diverse, both economic (75%) and
ethical (50%). The top three are innovation & learning, employee
motivation and risk management & reduction, with about 50% as motivating
factors.
Independent assurance remains a valuable part of reporting. In 2005
the number of reports with an assurance statement increased to 30% (G250)
and 33% (N100) from 29% and 27% respectively in 2002. Major accountancy
firms continue to dominate the Corporate Responsibility assurance market
with close to 60% of the statements.
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