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Eastern European CSR reporting makes big strides

2010

Eastern European corporate responsibility reporting is fast approaching the level of Western Europe, with significant improvements in countries such as Poland bringing them up to par with some of their more developed counterparts.

According to research produced by the Sweden-based GES Investment Services, many CSR reports in Russia, Poland and the Czech Republic are now ‘just as good’ as Austria, the Irish Republic and Greece when it comes to non-financial reporting.

However, all countries continue to lag behind top performers such as Sweden and France according to GES, which assessed the reporting performance of 746 European companies in line with various international standards.

Countries from ‘old’ and ‘new’ Europe were ranked in five categories. The top-ranking ‘leaders’ included only Western European nations such as France, Sweden, Germany, Finland and the UK, but the third category, signifying a ‘slightly below average’ performance, saw Poland and Russia placed alongside Austria and other countries in ‘old Europe’.

‘Laggards’ are entirely Eastern European, however, being located in Croatia, Bulgaria, Romania and Serbia.

Martin Pitura, managing director of GES Investment Services Poland, added that while CSE reporting has improved significantly, actual CSR performance in Eastern Europe is still lagging behind.

‘This is something that New Europe is working on, and the improvement during the last ten years has been quite good. Our estimation is that the current leaders in New Europe were on the same level ten years ago as the current laggards in Europe are today. For the coming years, we expect to see that companies from New Europe continue to improve their reporting, which will make them more attractive for investors.’



Further Information
http://ethicalp.com/ges
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