Sustainability reports of varying quality
Published: Friday, Nov 24th 2023, 11:10
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Around every second company listed on the Swiss stock exchange has published a sustainability report in the current year. However, the data collected in these reports is often incomplete, as an analysis by the news agency AWP shows.
Almost 100 listed companies have published a sustainability report this year. These include all 30 of the largest companies whose shares are traded on the Swiss stock exchange.
The three largest CO2 emitters are Holcim, ABB and Nestlé. They have each emitted over 100 million tons of greenhouse gases along their entire value chain. However, all three companies reduced their CO2 emissions last year.
The commodities groups Glencore and Trafigura were not included. Although they are based in Switzerland, they are traded on foreign stock exchanges. Glencore alone emits as much CO2 as the three SMI companies with the highest emissions combined.
Missing Scope 3 data
In most cases, emissions are not generated by the companies themselves, but along the upstream and downstream value chain (Scope 3). For example, at suppliers or in logistics.
Not all companies publish all their CO2 emissions. Around half of listed companies with sustainability reports only disclose their operational greenhouse gas emissions (Scope 1 and 2). However, many have announced their intention to also disclose Scope 3 emissions in future.
Almost half of the listed companies with a sustainability report have also defined a net zero target. Among the 30 largest companies, the proportion is slightly higher at around two thirds. Most companies with a net-zero target want to reduce their CO2 emissions to zero by 2050.
However, there are also companies that want to achieve climate neutrality sooner. Dental implant manufacturer Straumann, for example, is aiming for net zero by 2040, and computer accessories manufacturer Logitech by 2047.
Standardized information
Most companies use a standardized set of rules to prepare their sustainability report. More than three quarters use the templates of the Global Reporting Initiative, or GRI for short. In addition, some reports also use the standards of the Sustainability Accounting Standards Board.
Apart from information on greenhouse gas emissions, which is usually published more or less in full, the scope of reporting varies greatly. Some companies provide detailed information on all emissions, waste or employees. Others provide hardly any usable data apart from CO2 emissions.
One exception is the proportion of women in the overall workforce, which is mentioned in practically every sustainability report. This was 35 percent on average. Companies with typical female occupations - such as the pharmaceutical company Galenica or the recruitment agency Adecco - scored above average in this category.
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