Majority of companies keeping sustainability information under wraps: Study
- POSTED: 31 Jul 2014 21:22
Two out of three mainboard-listed companies are not communicating their sustainability information to stakeholders, according to a new study.
SINGAPORE: Two out of three mainboard-listed companies are keeping their sustainability information in the dark. This is according to a new study released on Thursday (July 31) by Singapore Compact for Corporate Social Responsibility and the National University of Singapore Business School.
The study shows that out of the 537 listed companies, only 160 - or less than one third - communicated information related to the governance, economic, environmental and social aspects of their businesses to stakeholders. This, however, is almost double the 79 companies which did so in 2011, when the survey was last done.
Of the 160 companies, only 19 used internationally recognised sustainability reporting frameworks, which guide them to provide more comprehensive and in-depth information about their businesses to their stakeholders. The top three sectors with the highest level of sustainability disclosures are the multi-industry, hotels and transport, storage and communication sectors.
The study also shows that companies providing sustainability information are evenly distributed among large, medium and small capitalisation companies. This is in contrast to the findings in 2011, when large capitalisation companies accounted for almost 60 per cent of those who provided such information.