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Laxman Pai, Opalesque Asia: The world's largest companies are improving on climate reporting, but progress is lagging in key areas of sustainability and ESG, said a study.
According to PMG's latest survey of sustainability reporting, over 79% of leading firms provide sustainability reports, up from two-thirds of the top 100 companies ten years ago.
However, less than half report on the social and governance components of ESG, and over 25% have no link to external ESG targets, said the study, which analyses sustainability and ESG reports from 5,800 companies across 58 countries and jurisdictions.
Among the thousands of reports analyzed, less than half of the world's largest companies are providing reporting on 'social' and 'governance' components of ESG.
"There has been marked improvements in companies reporting carbon reduction targets, but the action remains too slow in key related areas, with less than half of companies currently recognizing biodiversity loss as a risk," it said.
KPMG outlines a series of recommendations, including companies shifting from a narrative-driven approach and making better use of data to drive change and provide evidence of action.
The world's top 250 companies - known as the G250 - are almost all providing some form of sustainability reporting, with 96 percent of this group reporting on sustainability or ESG matters.
Meanwhile, there has been a steady and consistent increase in reporting from the so-called N...................... To view our full article Click here
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