Reports Do Not Reflect CR Importance
According to a research, there is no portrayal of the importance of corporate responsibility in reporting’s of the company.
Black Sun, the corporate reporting consultancy says that it involves matters encircling the environment, society and other stakeholders.
However, as stated by more than half of company reports, CR is disconnected from their overall business and operations.
The recent report of Black Sun, Talking the Talk or Walking the Walk, unveils that even though there has been a slight increase in the number of companies reporting, yet there are over 60% of FTSE companies which do not link corporate reporting to their overall business policies and 40% reports unsuccessful in giving accounts of any non financial key performance indicators (KPIs).
There are many numbers of companies leading the way in order to provide a ‘holistic’ story of the activities involved in their business, which includes issues concerning both financial and non financial.
The report says that the growth in trend signifies that many of these companies are acknowledging the intrinsic value in improving and reporting on their social and environmental performance.
This argument was backed up by 73% of respondents in a recent Black Sun poll, saying that
the corporate reporting and sustainability would be on their agenda for the year 2010/2011.
According to the consultancy, it is seen that in most cases companies have to struggle so as to present an established link between the business and corporate reporting activities, and very often the non financial information comes across as disconnected from the major business activities and operations.
Further, the consultancy adds that the availability of several guidance, frameworks and standards existing presently might add to a company’s confusion of how and what to report to the stakeholders.