More than half (59%) of the organizations reviewed are not including sustainability-related information in their annual reports beyond a dedicated Corporate Social Responsibility section.
PwC Canada Partner and National ESG Reports and Assurance Leader Sarah Marsh says companies need to understand the critical importance of transparency and accountability in today’s business landscape.
“Organizations must address the true value of ESG as soon as possible,” she said. “As stakeholders seek leadership on climate change, social justice and other pressing challenges, Canadian companies that demonstrate how they are creating value for all will gain an edge on many fronts.”
Climate change is a huge social issue, one that has intensified interest and scrutiny by COP26.
But 35% of the firms reviewed have a formal net-zero commitment, with only 17% setting a date to reach their target.