Sustainability reports should not be an afterthought for retail investors as these documents provide the complete picture of the companies' approach to doing business in the future.
They are not just an add-on to the annual report and financial statements, but provide vital information on where the firm is going, said corporate governance expert Lawrence Loh.
In fact, many corporate investors are taking environmental, social and governance (ESG) considerations more seriously, adding pressure on firms to disclose such measures.
Some companies here appear to be rising to the occasion, going by the latest sustainability reports released by listed firms which have focused on the intricate tying of business strategy with sustainability.
Professor Loh, who is director of the Centre for Governance and Sustainability at NUS Business School, said: "The sustainability report goes hand in hand with the annual report that tells about the business activities. They're two sides of the coin, and sustainability completes the story of the company, so they can't be read separately." Companies like Sembcorp Industries, UOB, CapitaLand Investment, City Developments Limited (CDL) and Singtel have produced sustainability reports in the past month, showing their commitment to working on the ESG aspects of their businesses.
Nanyang Business School Associate Professor of Accounting Kelvin Law said: "In recent years, we have witnessed a significant shift in corporate mindset, with an increasing number of companies recognising the strategic value of integrating sustainability into their core operational strategies and long-term planning." Prof Loh said for the layperson, reading a sustainability report is about discovering the story it tells.
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