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KPMG Survey of Corporate Responsibility Reporting 2017
KPMG Survey of Corporate Responsibility Reporting 2017
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The road
ahead
The KPMG Survey of Corporate
Responsibility Reporting 2017
kpmg.com/crreporting
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. www.kpmg.com/crreporting | 0
No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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Contents
About this survey 2 Linking CR activity to the Sustainable Development Goals
Research samples: the N100 and G250 3 SDGs emerge as a clear trend in CR reporting 39
Executive Summary 4 SDG reporting among the world’s largest companies 42
What do these findings mean for business? 6 Acknowledging human rights as a business issue
Quantitative global trends in corporate responsibility reporting Human rights is firmly on the agenda as a global business issue 44
N100 companies continue to catch up with the G250 9 Companies in India, the UK and Japan are the most likely to discuss 46
human rights
Reporting in Latin America grows, Eastern Europe yet to catch up 11
Mining companies are the most likely to acknowledge human rights 47
Regulation, stock exchanges and investor pressure drive national 15
reporting rates Linking carbon targets to the global climate goal
Lagging sectors gain ground 20 More companies set carbon targets 49
More companies include CR data in annual financial reports 21 Most carbon targets are not linked to greater climate goals 50
Integrated Reporting takes off in certain countries 24 How we can help 51
Assurance of CR data continues steady growth 26 Methodology 52
GRI remains the most popular framework for CR reporting 28 Acknowledgments 56
Acknowledging the financial risks of climate change
Three quarters of companies worldwide yet to acknowledge climate 30
change as a financial risk
Very few companies quantify climate risks or model their financial 31
impacts
What is driving acknowledgement of climate risk in the leading 32
countries?
Mixed picture for TCFD priority sectors among the N100 33
Climate risk reporting: the world’s largest companies (G250) 34
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. www.kpmg.com/crreporting | 2
No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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N100 G250
The N100 refers to a worldwide sample of 4,900 The G250 refers to the world’s 250 largest
companies comprising the top 100 companies by companies by revenue based on the Fortune 500
revenue in each of the 49 countries researched in ranking of 2016. Large global companies are
this study. These N100 statistics provide a broad- typically leaders in CR reporting and their behavior
based snapshot of CR reporting among both large often predicts trends that are subsequently
and mid-cap firms around the world. adopted more widely.
For more details on these research samples, a full list of the 49 countries and
regions covered and the research methodology see page 52.
For more information about the survey and to explore the data in more detail using an interactive online
tool, visit kpmg.com/crreporting.
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©
© 2017
2017 KPMG
KPMG International
International Cooperative
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Executive Summary
Acknowledging the financial risks
Quantitative trends in corporate responsibility reporting
of climate change
72%
This survey confirms of the
CR reporting is standard Most of the world’s that a majority of N100 do not
practice for large and biggest companies now companies do not
mid-cap companies integrate financial and acknowledge climate
52%
around the world. non-financial data in their of the
change as a financial risk
Around three quarters of the annual financial reports G250 do not
in their annual reports
companies studied in this
12
among the G250 in the last
history of this survey, every sector has a
60%
reporting rate of or more. years
See page 20. Linking corporate responsibility activity
(now 67 percent of reports),
indicating that the largest companies to the UN Sustainable Development
see value in promoting the reliability Goals (SDGs)
of this information. Assurance is also
43%
Latin America has seen increasing at a steady rate among The SDGs have of G250
a surge in CR reporting N100 companies. See page 26. resonated strongly with reporters
in the last two years, businesses worldwide in
driven by regulation, foreign investor less than two years
39%
demand and the need to build and protect GRI remains the most popular since their launch. Many of N100
public trust. See page 13. framework for CR reporting. already connect their CR reporters
Around two thirds of reports activities to the SDGs
analyzed in this survey apply the This is a clear trend that has emerged in a short
“Integrated Reporting” has GRI G4 Guidelines or Standards. space of time and strongly suggests that the SDGs
taken off in Japan, Brazil, See page 28. will have a growing profile in CR reporting over the
Mexico and Spain. See page 24. next two to three years. See page 39.
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. www.kpmg.com/crreporting | 4
No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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67%
Yet, most of these firms do not relate their own targets
to the climate goals being set by national governments,
regional authorities or the UN, such as The Paris
Agreement which commits countries to limit global
warming to well below 2°C. See page 49.
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©
© 2017
2017 KPMG
KPMG International
International Cooperative
Cooperative (“KPMG
(“KPMG International”),
International”), aa Swiss
Swiss entity.
entity. Member
Member firms
firms of
of the
the KPMG
KPMG network
network of
of independent
independent firms
firms are affiliated with KPMG International. KPMG International provides no client services. www.kpmg.com/crreporting
www.kpmg.com/crreporting
| 5| 5
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What do these
It is a tough question because there is so much of While initiatives to standardize reporting approaches will
interest in these pages. Yet when I reviewed the data and carry on and should be encouraged, it is likely that the
asked myself this same question, I came up with three international reporting landscape will continue to be
important messages that I want to get across. Firstly, get fragmented and dynamic for the foreseeable future.
findings mean
ready for more reporting regulation because it is on the
Business leaders need to ensure their organizations are in
way. Secondly, be clear that reporting integration is the
touch with global reporting trends and in a good position
new normal and “non-financial” is the new financial.
to anticipate and respond to change. As demands for
Finally, remember that from here on in, it’s all about
disclosure continue to grow, firms need to ensure that
for business?
reporting your impact not just statistics.
they have up-to-date and efficient systems in place to
Get ready for more reporting regulation collect, analyze and disclose the necessary ESG
information and that they are able to convince regulators,
In the many interviews we conducted for this survey,
investors and others of the reliability of that information.
regulation emerged as a clear and recurrent theme. We
heard how governments and stock exchanges the world Reporting integration is the new normal and “non-
over - from Latin America to Japan, the US and the EU, to financial” is the new financial
This survey is arguably the most India and Taiwan - are bringing in new layers of regulation
comprehensive overview of There was a time when corporate responsibility
for environmental, social and governance (ESG)
information was considered strictly “non-financial” and
corporate responsibility reporting disclosure. We heard how voluntary guidelines are rapidly
not relevant to include in annual financial reports. The
transitioning into mandatory reporting requirements in
trends worldwide. It is packed full corporate responsibility report as we know it today was
many parts of the world.
of data, but what does all this born from those beliefs. But times are changing.
My message to business here, is to expect more of the
data actually mean? If business As our survey shows, more than three quarters of the
same. Countries that do not yet have reporting regulation
leaders have no time to continue are likely to introduce it. Those that have it are likely to
world’s largest 250 companies now include at least some
“non-financial” information in their annual financial
reading beyond this point, what strengthen it and to bring in new requirements for
reports. And where the largest firms lead, others
are the key points I want them to reporting on critical issues such as climate change and
inevitably follow. We can also see that some countries
human rights. Voluntary frameworks are likely to continue
take away from this report? to become compulsory. Levels of disclosure will likely
appear to be enthusiastically adopting the concept of
integrated financial and “non-financial” reporting, in many
continue to ratchet up.
cases nudged along by regulation or stock exchange
José Luis Blasco guidelines.
Global Head, KPMG
Sustainability Services
jblasco@kpmg.es
@JLBlasco_KPMG
linkedin.com/in/joseluisblasco/
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6 | www.kpmg.com/crreporting
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Furthermore, the conventional lines between “financial” So increased dialogue and collaboration between the So my final message, is to go
and “non-financial” are not only beginning to blur, but in finance and sustainability functions – which are too often
beyond the statistics and explore
some examples are breaking down completely. It’s separate and siloed – will be critical.
important to note that the recommendations of the how to assess and communicate
It is all about impact not just statistics
Financial Stability Board’s Task Force on Climate-related impact. I believe there will be
Financial Disclosures (TCFD) apply to the disclosure of Traditional corporate responsibility reporting has focused significant benefits for those who
climate risk in annual financial reports not in corporate on reporting statistics such as how many cubic meters of
responsibility reports.
choose to lead in this field.
water a company has saved, how many tons of carbon it
has reduced or how many employees it has sent on I hope you enjoy reading this
I believe this is the start of a shift that will gather pace in
training programs. Such statistics increasingly lack real
the next few years. Environmental and social issues such
meaning without information on context and impact. The
survey and I would be delighted
as climate change, water scarcity and human rights will to hear your thoughts on it.
future of corporate responsibility reporting is all about
increasingly be seen as financial rather than non-financial
issues. Companies will be expected to be transparent not
communicating impact, not statistics. Please do feel free to contact me
only about their own performance on these topics, but Financial stakeholders - including investors, lenders and by email, Twitter or LinkedIn.
also about the financial risks and opportunities they face insurers – need to know what impacts your business is
from them and the likely effects on the business’s value having on society and the environment, and how this
Finally, may I extend my warmest
creation in both the short and long term. could impact your business performance in the future. thanks to the many KPMG
My message here is directed at Chief Financial Officers:
They want to see that you understand these impacts and professionals who contributed so
to understand what your business response is. For much hard work to the
the merging of financial and “non-financial” reporting will
example, is your company taking action that reduces
accelerate quickly in the next few years and it is the
risks, unlocks opportunities or builds capacity for future production of this survey and to
finance teams that will be expected to deliver the the experts at other organizations
value creation?
disclosures. The first step to effective disclosure is for
finance teams to gain a sound understanding of the In the responsible investment space, impact investing is a who so generously gave us their
material environmental and social issues that have growth area that will increase pressure on companies to time to provide insight on the
potential to affect the company’s financial performance. disclose their impacts on society in a measurable and findings. I am very grateful.
Most companies have resident experts who can help, comparable way.
namely their sustainability teams.
The UN’s Sustainable Development Goals (SDGs) are
fueling demands for impact data. As this survey
highlights, simply linking corporate responsibility activity
thematically to the SDGs is not enough. People want to
know how companies are contributing to achieving the
goals and what the actual impact of those positive
contributions is. Similarly, they want to know how
company activities are exacerbating the challenges the
SDGs seek to solve, and what that negative impact is in
real terms. It is not just civil society and NGOs that want
this information, we are seeing a number of large
institutional investors exploring how they can align their
investment approaches with the SDGs. Such investment
strategies will inevitably require impact disclosure from
business.
Base: 4,900 N100 companies
Source: The KPMG Survey of Corporate responsibility Reporting 2017
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. www.kpmg.com/crreporting | 7
International
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Quantitative global
trends in corporate
responsibility
reporting
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. www.kpmg.com/crreporting | 8
No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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75%
80 83%
and 95 percent in the last four surveys.
There have been significant increases since
2015 in certain countries such as Mexico 70 73%
71% 72%
(+32 percentage points), New Zealand (+17
percentage points) and Taiwan (+11
60 64% 64%
percentage points) where new regulation has
driven reporting rates higher (see page 15).
50 53%
45%
40
41%
35%
30
20 24%
18% 18%
10
12%
0
1993 1996 1999 2002 2005 2008 2011 2013 2015 2017
1 The underlying trend of 75 percent applies when looking at the same N100 G250
sample of countries in 2015 and 2017. The overall N100 rate in 2017 is
72 percent due to the inclusion of 5 new countries with relatively low Base: 4,900 N100 companies and 250 G250 companies
reporting rates in the 2017 research. Source: KPMG Survey of Corporate Responsibility Reporting 2017
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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Greater alignment of
reporting frameworks
will help continue
growth
The corporate responsibility
reporting rates demonstrated in
KPMG’s 2017 survey are very high and
are testament to the huge progress Ian Mackintosh
that has been made over the years. Chair, Corporate
Over the next five years, we expect to Reporting Dialogue
see greater alignment and consistency
among the various reporting standards and frameworks.
This should make reporting easier for companies and give
governments and regulators greater clarity when formulating
new, or reviewing existing, legislation. This should contribute
to continued growth in reporting rates in that same period.
The one quarter of N100 companies in this year’s survey that
are not reporting ignore sustainability at their peril. If they want
to remain in business in the long term, they need to start
thinking about it immediately. The first step is to start reporting
internally. By considering the issues we’re facing globally and
understanding how they could affect business models – both
positively and negatively – these companies can adapt
accordingly. If they don’t act, it’s unlikely they will remain in
business.
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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Latin America The rate of reporting in Eastern Europe is still relatively low at 65 percent, despite an increase of 4 percentage points since
2015. Eastern European countries may be closing the gap on the rest of the region but are doing so slowly. Clearly, the
impact of the European Directive on Non-Financial Reporting has yet to be fully felt.
grows, Eastern
There has been a slight decline of 1 percentage point in the Middle East & Africa where reporting rates are traditionally
low. Low rates of reporting in Angola, Oman and Israel are offsetting high rates in South Africa and Nigeria.
Europe yet to
catch up 83% 78% 77% 52%
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the
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www.kpmg.com/crreporting || 12
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. www.kpmg.com/crreporting | 13
No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. www.kpmg.com/crreporting
www.kpmg.com/crreporting || 14
No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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98% 99% 97% 99% 100% 99% 99% 97% 97% 94% 94% 94% 95% 92% 87% 92% 58% 90%
2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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Countries with CR reporting rate higher than the global average (72%-89%)
90% 89% 77% 88% 87% 88% 85% 88% 84% 87% 85% 85% 84% 84% 81% 84% 80% 83%
2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017
The
Colombia Switzerland Finland Portugal Italy Ireland Hungary Australia
Netherlands
78% 83% 80% 82% 75% 82% 74% 82% 81% 80% 79% 80% 70% 78% 84% 77% 81% 77%
2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017
South
Romania Russia Germany
Korea
68% 74% 74% 73% 66% 73% 69% 73%
2015 2017 2015 2017 2015 2017 2015 2017
Countries with CR reporting rate lower than the global average (less than 72%)
Czech
Turkey UAE Angola Oman Israel Kazakhstan Cyprus
Republic
43% 51% 50% 36% 44% 34% 32% 37% 30% 28% 26% 23% 25% 13%
2015 2017 2017 2015 2017 2015 2017 2015 2017 2015 2017 2015 2017 2017
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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gain ground
76%
Chemicals 81%
75%
Mining 80%
83%
For the first time in the history of this survey, more than 60 Automotive 79%
percent of companies across all industry sectors are reporting 77%
on CR. Technology, Media & Telecommunications 79%
The four lagging sectors identified in KPMG’s 2015 survey – Healthcare; Transport & 79%
Leisure; Industrials, Manufacturing & Metals; and Retail – have all shown increases Forestry & Paper 77%
in CR reporting in 2017. The most significant growth has come from the Healthcare 73%
and Chemicals sectors which have seen increases of 8 and 6 percentage points,
respectively. Healthcare 76%
68%
While there has been an increase in CR reporting from businesses in the Retail
sector since 2015, the sector still has some way to go to catch up with others. Utilities 74%
81%
2
Personal & Household Goods 70%
68%
Retail 63%
68%
67%
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Ten countries with the highest rates of CR information in annual financial reports
81% 80%
Sweden
Norway
10
9
92% 3 6 86%
UK Denmark
7
8 88%
Taiwan
83% 1
5
France
81% 2
93%
US Malaysia
98%
4 India
91%
South
Base: 4,900 N100 companies Africa
Source: KPMG Survey of Corporate Responsibility Reporting 2017
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14%
42
36
27 27 26
21
+16 +16 +7 +6
11% 15%
of N100 reporting
companies
of G250 reporting
companies
6
Brazil
22
5
Mexico
21
10
South Korea
17
9
UK
15
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©
© 2017
2017 KPMG
KPMG International
International Cooperative
Cooperative (“KPMG
(“KPMG International”),
International”), aa Swiss
Swiss entity.
entity. Member
Member firms
firms of
of the
the KPMG
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with KPMG
KPMG International.
International. KPMG
KPMG International
International provides
provides nono client
client services.
services. www.kpmg.com/crreporting
www.kpmg.com/crreporting || 24
No
No member
member firm
firm has
has any
any authority
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obligate or
or bind
bind KPMG
KPMG International
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or any
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does KPMG
KPMG International
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any member
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firm. All
All rights
rights reserved.
reserved.
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33%
39% 38% 38% 42% 45%
N100 G250
Base: 3,543 N100 companies that report on CR, 233 G250 companies that report on CR
Source: KPMG Survey of Corporate Responsibility Reporting 2017
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No
firmmember
has any firm has any
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or any other member firmmember firm third
third parties, parties,
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any member firm.member firm.
All rights All rights reserved.
reserved.
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Acknowledging
the financial risks
of climate change
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N100 G250 In 2015, the Financial Stability Board highlighted climate change as a risk
to the stability of the global financial system and set up the Task Force
on Climate-related Financial Disclosures (TCFD). The Task Force has
brought together companies that prepare financial data and users of that
data (investors, lenders and insurers) to recommend how companies
should disclose the financial risks of climate change. These
28% Yes
48% Yes
recommendations focus on the disclosure of physical risks from
extreme weather such as storms and droughts, and commercial risks
related to the global transition to a lower carbon economy. The
recommendations were submitted to the G20 in July 2017.
72% 52%
As a result, pressure is growing on companies to improve their
disclosure of climate-related financial risk. UK investment house Aviva
Investors, for example, has announced that it will vote against the
annual reports and accounts of investee companies that do not report in
No No line with the Task Force’s recommendations.
For more on the TCFD see: www.fsb-tcfd.org
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Companies describing, quantifying or modeling climate risk in financial reports N100 G250
76%
63%
33%
18%
2% 2% 2% 3%
Base: 1,386 N100 companies & 119 G250 companies that acknowledge climate change as a financial risk in their annual report
Source: KPMG Survey of Corporate Responsibility Reporting 2017
Note: Numbers do not add up to exactly 100 due to rounding
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33 | www.kpmg.com/crreporting
© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network © 2017
of independent
KPMG International
firms areCooperative
affiliated with
(“KPMG
KPMGInternational”),
International. KPMG
a Swiss
International
entity. Member
providesfirmsnoofclient
the KPMG
services.
network of www.kpmg.com/crreporting | 33
No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor
independent
does KPMG firms
International
are affiliated
havewithanyKPMG
such authority
International.
to obligate
KPMG orInternational
bind any member
providesfirm.
no client
All rights
services.
reserved.
No member
firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG
International have any such authority to obligate or bind any member firm. All rights reserved.
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headquartered.
For example, in France, Germany and the UK, a majority of G250
companies do acknowledge the financial risks of climate change in their
reporting. Just under half the G250 companies based in the US and Japan
do so. Lower rates of climate risk acknowledgment in other countries and
61% Germany
60% UK
49% US
48% Japan
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Sectoral view changes when Sectoral view: G250 companies acknowledging climate change as a financial risk
looking at the world’s largest
companies
When looking specifically at the world’s
250 largest companies (G250) the sectoral
view changes significantly. Around two
67%
Retail
65%
Oil & Gas
54%
Utilities
thirds of the world’s largest Retail firms
(67 percent) are acknowledging climate
risk in their financial reporting, whereas
this sector lags in the N100 sample. This
may be because world-leading retailers
are more likely to be aware of the
potential impact of climate change on
their complex global supply chains.
53%
Automotive
47%
Technology, Media &
46%
Industrials,
The Oil & Gas sector has a relatively high Telecommunications Manufacturing & Metals
rate of climate risk acknowledgement in
both the G250 and N100 research
samples. This might be expected given
that investors and campaigners have been
putting oil and gas companies under
pressure to disclose their climate risks for
many years now.
36%
Financial Services
25%
Healthcare
It is notable that even the world’s largest
Financial Services firms have a relatively
Base: 250 G250 companies
low rate of climate risk acknowledgement Source: KPMG Survey of Corporate Responsibility Reporting 2017
(36 percent). Note: Graphic shows only sectors with 10 or more G250 companies
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms
© 2017of the
KPMG
KPMG International
network ofCooperative
independent(“KPMG
firms are
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entity. MemberKPMG
firmsInternational
of the KPMG provides
networknoofclient
independent
services.firms are www.kpmg.com/crreporting | 35
No member firm has any authority to obligate or bind KPMG International or any other member
affiliated
firm third
with parties,
KPMG International.
nor does KPMG
KPMGInternational
International
haveprovides
any such
noauthority
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to obligate
No member
or bind any
firmmember
has any firm.
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All rights
to obligate
reserved.
or bind KPMG
International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
All rights reserved.
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This change in reporting approach will also require a change in roles and responsibilities. Traditionally, thinking about climate change has
been the function of corporate responsibility or sustainability teams, but now the responsibility needs to sit with the executive who has the
best understanding of a company’s financial risks and opportunities – namely the CFO.
For companies that have just begun the process of reporting on climate-related financial risks, or have not yet started at all, a qualitative
approach is a good foundation and the TCFD’s guidelines are helpful here. Companies should bring together the main stakeholders from
around the business to look at the potential financial risks and opportunities presented by climate change, and then carry out qualitative
scenario analysis. For example, if you are a brewing corporation what would happen if you ran out of water in critical production locations or
if the costs of water rise dramatically? If you’re an oil company, will you still have a market for your products in ten or 20 years’ time? After
that, companies can start building sophisticated models that properly project the full gamut of financial risks and opportunities associated
with climate change, eventually integrating these models into their decision making and adapting the business strategy accordingly.
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Linking CR activity to
the Sustainable
Development Goals
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KPMG’s survey shows that the SDGs have resonated strongly with
businesses worldwide in less than two years since their launch. Around four
in ten CR reports from both N100 and G250 companies make a connection
between the company's CR activities and the SDGs.
This is a clear trend that has emerged in a short space of time and strongly
suggests that the SDGs will have a growing profile in CR reporting over the
next two to three years.
N100
39%
G250
43%
Base: 3,543 N100 companies that report on CR, 233 G250 companies that report on CR
Source: KPMG Survey of Corporate Responsibility Reporting 2017
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60
Sweden
58
Portugal
51
Mexico
47
France
47
Netherlands
Swedish
companies are
leading the world
when it comes to
Tomas
referencing the Otterström
SDGs in their Partner,
reporting and there Sustainability
are many reasons Services, KPMG
behind this including in Finland and
culture and politics. KPMG
Nordic companies in Sweden
in general are
increasingly interested in demonstrating
how they create value in society and the
SDGs provide a means for doing so.
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65%
of Forestry & Paper
SDGs pays SDGs in companies make a
dividends in ASPAC will connection with the
SDGs in their CR
Latin gain pace in reporting. This is the
America more highest sectoral rate
developed among the N100 sample.
In Latin Ricardo Zibas Sung Woo Kim
America, there has Director, markets Regional Lead for
been huge effort Sustainability Sustainability Forestry companies
on the part of Services, KPMG in In general, Services in ASPAC
NGOs and industry Brazil business awareness and Partner, are often early
bodies like the and understanding KPMG in South adopters in CR
WBCSD to publicize the SDGs as the of the SDGs in Asia Korea
preeminent framework for designing and Pacific is relatively
In 2015, we revised our
implementing sustainability activities. low right now.
corporate responsibility targets,
Additionally, thanks to the way the SDGs What’s more, reporting trends in the region setting a new timeline of 2030 and
were designed, many companies have tend to be driven by mandatory increasing our level of ambition.
mapped their existing CR reporting onto disclosure requirements from That process coincided with the Sami Lundgren
to SDGs in order to demonstrate how governments, stock exchanges and launch of the SDGs, which also
they are contributing to sustainable investors, and the SDGs have yet to fully have a timeline of 2030, so it Vice President,
development. take root among these particular seemed logical for UPM to align Environment and
stakeholders. its own corporate responsibility Responsibility, UPM
Regulators and industry bodies are also
supportive. For example, The Brazilian However, I do think adoption of the SDGs strategy and targets with the
Corporate Sustainability Index, an index in Asia Pacific will increase in the years to global goals. While the timing of the SDGs was fortunate for
on the Sao Paolo Stock Exchange, come. In the more economically us, it doesn’t surprise me that the Forestry & Paper sector
encourages companies to commit to the developed countries such as Australia, as a whole has been progressive in linking its corporate
SDGs and embed them in their South Korea and Taiwan, it is only a responsibility activities to the SDGs. In many countries, the
management approach. matter of time before more companies Forestry & Paper sector is relatively mature in its
embrace the SDGs; for now the largest sustainability approach. Many forestry sites have contributed
global companies are setting the pace in to the wellbeing of local communities for more than a
doing so. For developing countries, the century and, at the same time, the industry has had to
transition to including the SDGs in ensure that it uses natural resources like timber and water in
corporate responsibility vision and a responsible manner. As a result, Forestry & Paper firms
strategy will be slower unless are often among the first to adopt new corporate
regulation is introduced. responsibility practices.
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63% France
are leading the pack
when it comes to
connecting their CR
activities with the SDGs.
47%
Healthcare
60% UK
exception not the rule.
37%
Financial
Services
31%
on CR & Metals
Source: KPMG Survey of Corporate
Responsibility Reporting 2017
US
Note: Graphic shows only sectors
where 10 or more G250
companies are headquartered 28%
Oil & Gas
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Acknowledging
human rights as a
business issue
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73% 90%
Base: 3,543 N100 companies that report on CR, 233 G250 companies that report on CR
Source: KPMG Survey of Corporate Responsibility Reporting 2017
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. www.kpmg
pmg..com/
om/ccrre
rrepo
porting
rting | 44
International.
No member firmKPMG
hasInternational
any authorityprovides
to obligate
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or bindservices.
KPMG International
No member or
firm
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other
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KPMG International
or any other
have member
any such firm
authority
third to obligate or bind any member firm. All rights reserved.
parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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the UK and Japan are We are still in the early days of human rights reporting. The
fact is, it is currently impossible to properly track a company’s
human rights impacts through its annual corporate responsibility
the most likely to reports. So reporting formats will inevitably have to evolve. In future,
I expect to see new forms of disclosure that offer both greater
transparency and timeliness. One example might be through the use
of blockchain technology in the supply chain, which would allow for John Morrison
discuss human rights unalterable reporting and assurance every step of the way.
Awareness of the human rights issues that companies should report
on will also evolve. For example, in the coming years there is
likely to be a backlash against data and technology companies that
Chief Executive,
Institute for Human
Rights and Business
have been collecting and using consumer data en masse. As the right to privacy becomes
The ten countries where companies are most likely increasingly prominent, big data and technology companies will have to be more transparent
to discuss human rights in their CR reporting are in about how they collect, store, and use our information.
Western Europe, Latin America and Asia Pacific. The language and ideas of human rights are also likely to be a basis for a future universal
India, the UK and Japan lead the world, and all framework for social impact reporting among global businesses. While other frameworks
abound, the concept of human rights has been around for 70 years. This means it has
three countries have some regulation in place long been understood and is widely accepted – even if it can be an uncomfortable fit for
mandating or encouraging human rights some businesses.
disclosure.
Number of N100 companies that acknowledge
human rights in CR reporting: top ten countries
Regulation driving human rights reporting
95 in India
85 83 82 78 77 76 74 72 72
The recent ratification by India of International Labour Organization
(ILO) Conventions 138 and 182 clearly indicates the importance of human
rights to the country. From a corporate reporting point of view, the
Business Responsibility Report (BRR), an annual disclosure mandated by
the Securities and Exchange Board of India (SEBI), requires the top 500
listed companies to report on nine core principles, one of which focuses
on human rights. This mandate can be credited as the driver for most of Santhosh
Brazil
Portugal
Mexico
India
UK
Japan
Taiwan
Sweden
France
Denmark
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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Healthcare
Mining
Automotive
Chemicals
Industrials, Manufacturing
& Metals
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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Linking carbon
targets to the global
climate goal
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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G250
2015
2017
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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N100
G250
Base: 1,765 N100 companies that report carbon reduction targets, 156 G250 companies that report carbon reduction targets
Source: KPMG Survey of Corporate Responsibility Reporting 2017
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of©independent
2017 KPMGfirms
International
are affiliated
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with KPMG (“KPMG
International.
International”),
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provides
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does
network
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No member firm has any authority to obligate or bind KPMG International or any other member firm third parties,
nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
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Methodology
Professionals at 49 KPMG member firms carried N100 research sample: national breakdown
out thousands of hours of research for this The N100 research sample in this survey includes companies headquartered in the following 49
survey. They reviewed annual financial and countries and regions. Five KPMG member firms participated in the research for the first time in 2017:
corporate responsibility reporting from the Austria, Cyprus, Luxembourg, Thailand and Turkey. Indonesia, which participated in the 2015 survey,
did not participate in 2017. Some findings of this survey point to the underlying trend which is based on
largest 100 companies, by revenue, in their own
the 44 countries that participated in both the 2015 and 2017 surveys.
countries and regions.
Research sources included PDF and printed reports as well as
1. Angola 19. Ireland 37. Slovakia
web-only content published between 1 July 2016 and 30 June
2017. If a company did not report during this period, reporting 2. Australia 20. Israel 38. South Africa
from 2015 was reviewed. However, no reporting published prior 3. Austria 21. Italy 39. South Korea
to June 2015 was included in the research for this survey. 4. Belgium 22. Japan 40. Spain
The survey findings are based on analysis of publicly available 5. Brazil 23. Kazakhstan 41. Sweden
information only, and no information was submitted directly by 6. Canada 24. Luxembourg 42. Switzerland
companies to KPMG member firms.
7. Chile 25. Malaysia 43. Taiwan (ROC)
The survey refers to two research samples: 8. China 26. Mexico 44. Thailand
9. Colombia 27. New Zealand 45. The Netherlands
The N100 – the largest 100 companies in each
of 49 countries: 4,900 companies in total. 10. Cyprus 28. Nigeria 46. Turkey
11. Czech Republic 29. Norway 47. United Arab Emirates
Professionals at KPMG member firms identified the N100 in their 12. Denmark 30. Oman 48. UK
country based on a recognized national source, or where a
13. Finland 31. Peru 49. US
ranking was not available or was incomplete, by market
capitalization or another appropriate measure. All company 14. France 32. Poland
ownership structures were included in the research: publicly- 15. Germany 33. Portugal
listed and state, private and family-owned. 16. Greece 34. Romania
17. Hungary 35. Russia
The G250 – the largest 250 companies in the world. 18. India 36. Singapore
The G250 was identified as the top 250 companies listed in the
Fortune Global 500 ranking for 2016.1 The G250 is for the most
part a subset of the N100 research sample. 7 companies in the
G250 sample are not included in the N100.
1http://fortune.com/global500/2016 Accessed 27 September 2017
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG© 2017 KPMGof
network International
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N100 research sample: regional breakdown N100 research sample: sectoral breakdown
22% 11%
Industrials, Manufacturing & Metals
Retail 9%
14%
5%
14% Healthcare
4%
Personal & Household Goods
3%
Chemicals
3%
Americas Middle East Mining
& Africa 2%
(North America 4%,
Latin America 10%) (Middle East 8%,
Forestry & Paper
1%
Africa 6%) Other
2%
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KPMG
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G250 research sample: number of G250 companies in each country G250 research sample:
regional breakdown
40%
Spain France UK The Netherlands Germany Switzerland Italy Russia
37%
4 20 10 5 18 5 5 4 35%
33%
30%
30%
25 25%
Japan 20%
15%
75 7
10%
South
US Korea
5%
2 5 4 3 49
0%
Mexico Brazil India Australia China
Americas
Europe
Asia Pacific
1 Taiwan 1 Norway 1 Luxembourg 1 Belgium 1 Indonesia
1 Thailand 1 Malaysia 1 Denmark 1 Saudi Arabia
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©
© 2017
2017 KPMG
KPMG International
International Cooperative
Cooperative (“KPMG
(“KPMG International”),
International”), aa Swiss
Swiss entity.
entity. Member
Member firms
firms of
of the
the KPMG
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firms are
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International. KPMG
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provides nono client services. www.kpmg.com/crreporting | 54
client services.
No member Nohas
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any other member otherthird
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firm.
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Acknowledgments
Lead authors Researchers
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© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network © 2017
of independent
KPMG International
firms areCooperative
affiliated with
(“KPMG
KPMGInternational”),
International. KPMG
a Swiss
International
entity. Member
provides
firmsnoofclient
the KPMG
services.
network of www.kpmg.com/crreporting | 56
No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor
independent
does KPMG firms
International
are affiliated
havewithanyKPMG
such International.
authority to obligate
KPMG orInternational
bind any member
providesfirm.
no client
All rights
services.
reserved.
No member firm
has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG
International have any such authority to obligate or bind any member firm. All rights reserved.
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Local contacts
Argentina Denmark Kazakhstan Russia, Ukraine, UK
Martin Mendivelzua Niels Vendelbo Saken Zhumashev Georgia & Armenia Paul Holland
mmendivelzua@kpmg.com.ar nielsvendelbo@kpmg.com szhumashev@kpmg.kz Igor Korotetskiy paul.holland@kpmg.co.uk
ikorotetskiy@kpmg.ru
Australia Finland & Sweden Luxembourg US
Adrian V. King Tomas Otterström Gilles Poncin Singapore Katherine Blue
Global Sustainability Reporting & tomas.otterstrom@kpmg.fi gilles.poncin@kpmg.lu Sharad Somani kblue@kpmg.com
Assurance Leader sharadsomani@kpmg.com.sg
France Malaysia Uruguay
avking@kpmg.com.au
Philippe Arnaud Kasturi Nathan Slovakia Martin Clerino
Austria parnaud@kpmg.fr kasturi@kpmg.com.my Quentin Crossley martinclerino@kpmg.com
Peter Ertl qcrossley@kpmg.sk
Germany Mexico
pertl@kpmg.at Venezuela
Jens Laue Jesus Gonzalez South Africa
Jose O. Rodrigues
Azerbaijan jlaue@kpmg.com jesusgonzalez@kpmg.com.mx Shireen Naidoo
jrodrigues@kpmg.com
Vugar Aliyev shireen.naidoo@kpmg.co.za
Greece Netherlands
valiyev@kpmg.az
George Raounas Bernd Hendriksen South Korea
Belgium graounas@kpmg.gr hendriksen.bernd@kpmg.nl Sungwoo Kim
Mike Boonen Regional Leader, Asia Pacific KPMG’s Global Center of
Hungary New Zealand
mboonen@kpmg.com KPMG Sustainability Services Excellence for Climate Change
István Szabó Erica Miles sungwookim@kr.kpmg.com and Sustainability
Brazil istvan.szabo@kpmg.hu emiles@kpmg.co.nz
Ricardo Zibas Spain sustainabilityservices@kpmg.com
India Nigeria kpmg.com/sustainability
rzibas@kpmg.com.br José Luis Blasco Vazquez
Santhosh Jayaram Tomi Adepoju Global Head, KPMG
Canada santhoshj@kpmg.com tomi.adepoju@ng.kpmg.com
The information contained herein is of a general nature
Sustainability Services and is not intended to address the circumstances of any
Bill J. Murphy jblasco@kpmg.es particular individual or entity. Although we endeavor to
Indonesia Norway
billmurphy@kpmg.ca provide accurate and timely information, there can be no
Craig Rawlings Anette Rønnov guarantee that such information is accurate as of the date
craigrawlings@kpmg.com.sg Switzerland
Chile anette.ronnov@kpmg.no it is received or that it will continue to be accurate in the
Anne Van Heerden future. No one should act on such information without
Luis Felipe Encina
Ireland Peru annevanheerden@kpmg.com appropriate professional advice after a thorough
lencina@kpmg.com examination of the particular situation. The views and
Michael Hayes Rosario Calderon
michael.hayes@kpmg.ie Taiwan opinions expressed herein are those of the
China rccalderon@kpmg.com interviewees/survey respondents and do not necessarily
Niven Huang represent the views and opinions of KPMG International
Maria Cheng Caroline Pope Philippines nivenhuang@kpmg.com.tw and/or any KPMG member firm.
maria.cheng@kpmg.com caroline.pope@kpmg.ie Henry D. Antonio © 2017 KPMG International Cooperative (“KPMG
Thailand International”), a Swiss entity. Member firms of the
Colombia Israel hantonio@kpmg.com Paul Flipse KPMG network of independent firms are affiliated with
Maria Teresa Agudelo Oren Grupi
Poland pflipse@kpmg.co.th KPMG International. KPMG International provides no
magudelo@kpmg.com ogrupi@kpmg.com client services. No member firm has any authority to
Krzysztof Radziwon Turkey obligate or bind KPMG International or any other member
Cyprus Italy kradziwon@kpmg.pl firm third parties, nor does KPMG International have any
Sirin Soysal such authority to obligate or bind any member firm. All
Iacovos Ghalanos PierMario Barzaghi
Portugal ssoysal@kpmg.com rights reserved.
iacovos.ghalanos@kpmg.com.cy pbarzaghi@kpmg.it The KPMG name and logo are registered trademarks or
Martim Santos UAE and Oman (Lower Gulf)
Czech Republic trademarks of KPMG International.
Japan martimsantos@kpmg.com Raajeev Batra
Zuzana Majcikova Publication name: The KPMG Survey of Corporate
Kazuhiko Saito raajeevbatra@kpmg.com
zmajcikova@kpmg.cz Romania Responsibility Reporting 2017
kazuhiko.saito@jp.kpmg.com Hanife Ymer Publication number: 134802
Gheorghita Diaconu
Publication date: October 2017
Yoshitake Funakoshi gdiaconu@kpmg.com hymer1@kpmg.com
yoshitake.funakoshi@jp.kpmg.com Designed by CREATE | CRT085180 | October 2017