India leads corporate responsibility reporting rates in the world with 100%, up 27% from 2013, thanks to a mandatory requirement for large companies to do so, says a KPMG report.
Besides India, the greatest increases in country specific corporate responsibility (CR) reporting rates since 2013 have been seen in Norway (over 17%), South Korea (over 25%) and Taiwan (over 21%), said the KPMG Survey of Corporate Responsibility Reporting 2015.
All countries with a CR reporting rate of 90% or above have mandatory reporting requirements: India, Indonesia, Malaysia, South Africa, UK, France, Japan, Denmark and Norway.
“Today, all of the largest Indian firms report on CR, compared with just 20% of companies in 2011. Last year the government made it mandatory for large companies to report on CSR projects undertaken and to disclose details, including the spending on these projects, in their annual report. This, combined with Business Responsibility Reporting (BRR) requirement for top 100 listed entities from the Securities and Exchange Board of India, has pushed the rate of CR reporting in India to the highest in the world” said Santhosh Jayaram of KPMG in India.
Four emerging economies have the highest CR reporting rates in the world: India, Indonesia, Malaysia and South Africa. The Asia Pacific region has overtaken others on CR reporting rates, with India amongst the top 10 countries with the highest rate of CR information, according to the survey.
The survey published in the run-up to the upcoming annual UN Climate Talks (COP21), taking place on December 7-8 in Paris, where expectations are high for global agreement on reducing carbon emissions. The report also focuses on the quality of carbon reporting among the world’s 250 largest companies (G250).