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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.
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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.
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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