Trust in sustainability reporting hits record high
Global Reporting Initiative (GRI) research in 27 markets has found that trust in how companies communicate sustainability performance has increased to a record high
After surveying 1,000 individuals in each region, the GRI found that 51% agree that companies are honest about their social and environmental performance, up from 30% in 2003. The highest agreement was found in Indonesia (81%), Vietnam (80%) and Thailand (79%).
The US, Australia, Canada and EU member states are at the lower end, from 44% in the US to 31% in France. However, a number of these countries have seen increases. In comparison to a 2016 survey, levels of trust from respondents increased in Germany (by 16%), Spain (10%), Canada (8%), the US (5%) and the UK (3%).
“This goes hand-in-hand with growing expectations from consumers regarding more and better reporting,” said Peter Paul van de Wijs, GRI chief external affairs officer. “At the same time, finding the featured EU member states at the low end of the rankings strongly supports the case for the thorough revision of the European Non-Financial Reporting Directive, initiated in early 2020 by the European Commission.
“Mandating the reporting of comprehensive, comparable and assured data – using globally accepted standards, such as provided by GRI – is needed if we want to maintain momentum and progress further.”