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FTSE100 Company Reports Reveal Inadequacy of Companies Act

Author: Corporate Responsibility (CORE) Coalition, Published on: 28 April 2010

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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Related companies: AstraZeneca BAE Systems Balfour Beatty BP British Airways Cadbury (part of Mondelēz International) Carnival Compass Group F&C Asset Management Friends Provident Hammerson Home Retail Group HSBC Legal & General Investment Management Old Mutual Petrofac Randgold (part of Barrick Gold) Reed Elsevier Group Rio Tinto Serco Shire Smith & Nephew Standard Life Thomson Reuters Vodafone