What Responsibility?

Sustainability reporting is still Greek to most listed companies in Sri Lanka while non-listed companies don’t even have annual reports, shows a recent survey.





Sustainability reporting is still Greek to most listed companies in Sri Lanka while non-listed companies don’t even have annual reports, shows a recent survey. A survey, by the Association of Certified Chartered Accountants of Sri Lanka (ACCA), on environmental and social disclosures in annual reports, show low disclosure levels across the board.

The ACCA survey targeted the top 100 Sri Lankan companies – 75 listed and 25 non-listed.

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"Only 69 percent of the 75 listed companies reported some form of disclosure on environmental and/or social issue, while 31 percent did not report on these issues at all," said the ACCA on Tuesday.

A majority didn’t bother to provide any information on bribery and corruption, energy, environmental management and procurement issues.

The ACCA also notes a "significant lack of quantified performance indicators," among the top local listed companies.

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Public quoted companies in Sri Lanka, for the most part, like to talk about community related matters