Big shifts, small steps

This is the 12th edition of the KPMG Survey of Sustainability Reporting; the first edition was published in 1993. This year, KPMG professionals reviewed sustainability reporting from 5,800 companies in 58 countries, territories and jurisdictions, making this the most extensive Survey in the series to date.

The Survey provides a detailed look at global trends in sustainability reporting and offers insights for business leaders, company boards and sustainability professionals. It aims to support those responsible for assessing and preparing their own organization’s sustainability reporting. The Survey also guides investors, asset managers and ratings agencies who now factor sustainability or Environmental, Social and Governance (ESG) information into their assessment of corporate performance and risk.

Key findings for Finland show a small increase in Finnish companies’ reporting on sustainability performance, with 94% of the top 100 companies reporting on sustainability data, up from 90% in 2020. The result places Finland above the Survey’s global average of 79%. However, with a reporting rate of 81 percent, Finland ranks tenth among the 58 countries, territories and jurisdictions at including sustainability information in annual financial reports.

Principally, Finnish companies report more comprehensively on sustainability than the global average. Reporting rates are higher on carbon targets, TCFD adoption, and ESG risks and governance, to name a few. Finnish companies are also one of the most prominent reporters on materiality assessments, Sustainable Development Goals (SDGs), and GRI Standards, placing Finland in 4th, 6th and 8th places globally, respectively.

While Finnish companies tend to obtain high reporting rates across the board, they are also falling behind globally and within Europe in adapting to some guidelines and standards, such as Integrated Reporting and SASB, and in reporting on the risks they face from the loss of nature and biodiversity. 

Click below to see key findings from the survey. Download the report for more details and insights from KPMG sustainability reporting professionals around the world and third-party commentators.