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CORE Coalition report says UK-listed companies do not adequately report on their social & environmental impacts

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Article
28 April 2010

FTSE100 Company Reports Reveal Inadequacy of Companies Act

Author: Corporate Responsibility (CORE) Coalition

The Companies Act has failed to make enviroronmental and social reporting simpler and more effective according to a new report released today by the Corporate Responsibility (CORE) Coalition...[O]f the FTSE100 company accounts reviewed, AstraZeneca, Friends Provident, Hammerson, HSBC and Thomson Reuters were deemed to be the worst performers in terms of the level of non-financial information reported...The Companies Act (2006) requires all large, publicly-listed companies to produce a business review to help inform shareholders how directors have perfmed their new statutory duty to promote the success of the company, having regard to a range of environmental and social factors, as well as on their supply chain impacts...[T]he Government has not put in place adequate monitoring of this legislation. [also refers to Amlin BAE, Balfour Beatty, BP, British Airways, Cadbury, compass, Carnival, F&C, Home Retail, Legal & General, Old Mutual, Petrofac, Randgold, Reed Elsevier, Rio Tinto, Serco, Shire, Smith & Nephew, Standard Life, and Vodafone]

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Article
28 April 2010

[PDF] The Reporting of Non-financial Information in Annual Reports by the FTSE100

Author: Adrian Henriques, Middlesex University, for the CORE Coalition

Shareholders, as stakeholders of the companies they own, are entitled to receive information which can help to determine the decisions they take over ownership and trading, voting and communication with companies. This is justified because the plans and performance of companies affect their interests and their entitlement to information is enshrined in law, through reporting obligations amongst others. Other stakeholders are also affected by companies’ environmental and social impacts...In recent years the nature and quality of reporting within ‘corporate responsibility’ (CR) reports, has been very variable. Yet for stakeholders it is important that the actual reporting practices of companies provide information in proportion to their impact on stakeholders. [Refers to Amlin, AstraZeneca, BAE, Balfour Beatty, BP, British Airways, Cadbury, compass, Carnival, F&C, Friends Provident, Hammerson, Home Retail, HSBC, Legal & General, Old Mutual, Petrofac, Randgold, Reed Elsevier, Rio Tinto, Serco, Shire, Smith & Nephew, Standard Life, Thomson Reuters and Vodafone]

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