More people think that companies are being honest with the information they publish in sustainability reports than they did two decades ago although public faith in sustainability reporting remains relatively low, particularly in the West. A survey of 27,000 people across 27 countries, conducted by research firm GlobeScan for sustainability reporting standards non-profit Global Reporting Initiative (GRI), found that 47 per cent of people globally agree that companies are truthful about their social and environmental performance. In 2003, just 30 per cent of people felt the same way. Trust in sustainability reporting differs markedly by region, with Asians far more likely to believe the information provided by corporates than people in the West. Indonesians are the most trusting, with eight in 10 believing in corporate sustainability information, followed by Vietnamese, Thais, Chinese and Indians. The high level of trust in Asia could be explained by the increasing number of markets that have policies that recommend or require ESG reporting. In the last few years, all the major Asian stock exchanges have implemented ESG reporting as a listing requirement, adding new pressure for corporate transparency in the region.

Posted by

Eco-Business