AMSTERDAM: Sustainability reporting plays a fundamental role in contributing to governments’ efforts in advancing towards sustainable development, according to the latest edition of the Carrot and Sticks report.

Carrot and Sticks, which is produced jointly by KPMG, the United Nations Environment Programme (UNEP), Global Reporting Initiative (GRI) and the Centre for Corporate Governance in Africa at the University of Stellenbosch Business School, also found sustainability reporting contributes towards economic growth, transparency, sustainability production and consumption patterns and building trust among governments’ constituents.

The report was launched today on the third and final day of the GRI global conference on sustainability reporting. This edition covers 45 countries and regions and 180 sustainability reporting policies and initiatives, both triggered by governments and market regulators.

The emerging trends found include, an increase in ‘report or explain’ approaches in policy making and growing reference to existing frameworks, in an effort to harmonise requirements.

UNEP industry and economics division of technology director Sylvie Lemmet said word about the positive effects of corporate sustainability reporting is "spreading quickly" and governments have been quick to realise they have an "important" role to play.

"After introducing initiatives to promote it, governments have been rewarded with an almost immediate scaling up of the number of companies reporting."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

KPMG global head of sustainability assurance Wim Bartels said the "rising interest from the financial world to see the full picture of a company, alignment between regulators would create a level playing field for business".

"Not just for disclosure, but primarily for what will make the difference ultimately: sistsaonable business for a prosperous society," he added.

Related article
Barnier calls for more transparency across EU

Related links