The level of awareness among companies on the importance to produce sustainability reports is increasing, reflecting better transparency and risk management, said the Association of Chartered Certified Accountants (ACCA) Malaysia.
Country head Jennifer Lopez-Gomez said the increase could be seen at this year’s ACCA Malaysia Sustainability Reporting Awards 2010 (ACCA MASRA 2010) where 53 reports were received.
“We received 11 reports when we started the awards eight years ago and now the number is increasing and this shows how important the reports are among the companies,”she told reporters yesterday after the awards ceremony here.
Lopez-Gomez said apart from the higher participation from companies, the quality of reporting had also improved.
“Having the sustainability reports will give much better understanding of the companies’ business operation among the stakeholders and the society. In addition, they also can attract investors who are looking for more detailed information of companies they (want) to put their money in,” she said.
Of the 53 reports received this year, 20 were shortlisted for the awards.
ACCA Malaysia advisory Committee president Datuk Mohd Nasir Ahmad said that in Malaysia, ACCA was trying to convey the message that accurate and meaningful sustainability reporting could help optimise business performance.
“There is a business case for sustainability reporting, using it can help companies identify and manage risks, and survive and thrive,” he said. He added that Malaysia led in sustainability reporting in Asean, with a total of 97 sustainability reports from 49 companies in the past eight years.
Among the winners at the ACCA MASRA 2010 were the plantation division of Kulim (M) Bhd, which won the overall winner for best sustainability report while UEM Environment Sdn Bhd came in second.
