Disclosure efforts by governments around the world

01:47 PM, July 11, 2014

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CSR, Trend, global

Argentina: Since 2008 local and international companies in Buenos Aires with more than 300 employees are required to present an annual sustainability report.

Australia introduced ethical disclosure requirements in 2010 under the Financial Services Reform Act.

Belgium: In 2006 the Federal Action Plan for CSR was developed to promote CSR in Belgium and encourage companies to integrate it into their management structures.

Canada: The government of Canada has adopted a national position that encourages Canadian corporations to practice CSR.

China: An influential directive from 2008 encourages state-owned enterprises to comply with sound CSR practices.

In Denmark, beginning in 2010, the 1,100 largest companies in the country began reporting on their CSR efforts.

Ecuador: Mining companies are to record consumption of materials and resources and to present an annual environmental audit.

Finland: The government introduced a mandatory reporting requirement for state-owned companies in 2011.

France: Since 2002 all listed companies have had to divulge information about social and environmental conditions in their annual reports.

In India under Companies Act, 2013, any company with a net worth of Rs 500 crore (ca. $80 million) or more must spend 2 percent of their net profits on CSR activities.

 
Graphic: Harvard University Initiative for Responsible Investment; Abhinav Prakash/Designing Corporate Citizenship Initiative; Jeannet Lingan/Stakeholder Forum, Wikipedia
Graphic: Harvard University Initiative for Responsible Investment; Abhinav Prakash/Designing Corporate Citizenship Initiative; Jeannet Lingan/Stakeholder Forum, Wikipedia

The Indonesian government has signed a law that requires listed companies to report on their activities in society and for the environment.

Ireland: State-owned banks have to publish CSR reports at least biannually.

Malaysia: Listed companies are required to publish CSR information on a “comply or explain” basis.

Netherlands: Listed companies are required to publish annual environmental reports.

Since 2013 Norwegian law requires large companies to disclose information on how they are integrating social responsibility into their business strategies.


Saudi Arabia: Companies are required to pay amounts equal to 2.5 percent of their income to the revenue department, which then distributes the amount to the needy.

Singapore: The Code on Corporate Governance regulates corporate governance disclosures.

South Africa: The Code of Corporate Governance (King III) requires integrated sustainability reporting and third-party assurance from all South African companies as a listing requirement for the Johannesburg Stock Exchange.

Spain: Government-sponsored companies must publish corporate governance and CSR reports.

Sweden: All state-owned companies must report using GRI G3 standards.

Taiwan: Financial market regulators require all public and listed companies to disclose their CSR performance.

United Kingdom: The Financial Reporting Council is finalizing rules for corporate disclosures on environmental, social, and diversity issues. The new guidelines are intended to replace the existing “business review” section of annual reports.

In the United States, the EPA Mandatory Reporting of Greenhouse Gases requires large emitters of greenhouse gases to report GHG data.


Sources: Harvard University Initiative for Responsible Investment; Abhinav Prakash/Designing Corporate Citizenship Initiative; Jeannet Lingan/Stakeholder Forum, Wikipedia

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