ESG disclosure trends Roger Cowe

United Technologies Vodafone WPP Xstrata My perspective Working in ESG since mid-1990s Now working with major companies on ESG communications AstraZeneca BAA BAE Systems BSkyB BT Capita Caterpillar CEMEX Firmenich HSBC InterfaceFlor  ITV Kimberly-Clark Land Rover McGraw-Hill Motorola Nokia Siemens Networks Novartis Pitney Bowes Roche RSA Standard Chartered Syngenta Sun Microsystems Tesco Unilever United Technologies Vodafone WPP Xstrata So point out my perspective is influenced by major multinational leaders in ESG disclosure

ESG disclosures PLUS: investor surveys/meetings, annual reports (for Governance), SRI questionnaires (eg Eiris, DJSI and Vigeo) Comment – explosion of experimentation still a big business activity; what about the rest – disclosure to corporate customers

5 Key trends Enthusiasm for communicating on ES(G) Experimentation, diversity, communication More attention upstream and downstream Increasing focus on positive contribution Formal reports still the major vehicle Note G is slightly separate

Formal reports – 5 themes Move to multiple versions Interest in integration More data, hard targets Acknowl-edgement of GRI, not adherence Geog differences Limited assurance

Conclusions Clear value in disclosure for large companies Smaller companies focus on customers Multiple audiences, differing priorities Quality as well as quantity

Thank you

Formal reports - numbers 8 out of 10 global leaders More than 1500 reports in Europe US has been catching up BUT not much beyond the top 100 Source: KPMG, Corporate Register