KPMG: China Sees Rise in Corporate Responsibility Reporting12-11 00:00 财经网
There has been a growing trend in corporate responsibility (CR) reporting in China, with 75 percent of surveyed Chinese companies producing such reports in 2013,compared with 59 percent in 2011, a KPMG survey found.
In terms of CR reporting percentage, China ranks 11th in Asia where has seen a dramatic increase in CR reporting rates over the last two years, according to the KPMG Survey of Corporate Responsibility Reporting released Wednesday.
Almost three quarters (71 percent) of companies based in Asia Pacific now publish CR reports, an increase of 22 percent since 2011 when less than half did so. On global average, the percentage is 71 percent up from 64 percent two years ago, according to the report.
The reporting rate in America is 76 percent on average, 73 percent in Europe and 54 percent in the Middle East and African region.
"Reporting requirements from the Shanghai Stock Exchange and CR guidelines for state-owned enterprises have been in place since 2008. It is likely the recent growth reflects the greater expectations in the marketplace regarding corporate social responsibility," says Sean Gilbert, Director, Climate Change & Sustainability, KPMG China.
"In addition, the Hong Kong Stock Exchange plans to raise the obligation level of some recommended disclosures in the Environmental, Social and Governance Reporting Guide to "comply or explain" by 2015. This will also help raise awareness of CR reporting among Hong Kong companies," he adds.
In terms of quality of CR reports by the largest 250 companies surveyed, Chinese firms scored only 39 out of 100, compared to companies in Italy, Spain and the UK which achieved 76 to 85. It also lags behind the global average (59) and its Asian peers in Korea (60) and Japan (55).
The KPMG Survey of Corporate Responsibility Reporting provides a snapshot of current global trends in corporate responsibility reporting. The survey covers 4,100 companies in 41 countries and a deep-dive into the quality of reporting among the world's largest 250 companies.
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