Over the past three decades, sustainability reporting has been largely dominated by voluntary efforts. Today, the reporting landscape is undergoing a transformation, driven by the emergence of sustainability and climate-related disclosure requirements from a wide range of stakeholders including regulators, capital providers and customers. The findings in KPMG’s 2022 Survey of Sustainability Reporting reflect on the current state of Environmental, Social and Governance (ESG) reporting and overarching business strategies that can enable companies to meet increasing disclosure expectations.
First published in 1993, this 2022 survey marks the twelfth edition and is our most extensive survey analysis to date. The survey examines sustainability reporting trends around the world to offer meaningful insights about disclosure practices for business leaders, sustainability professionals, and company boards. The 2022 survey includes a number of new topics, including the use of materiality assessments, reporting on social risks, and reporting on governance risks.
Canadian addendum
Complementing our global findings, KPMG in Canada has provided a deep dive into the sustainability and ESG disclosure practices of the largest 200 Canadian companies (and their international parents, where relevant). The research examines whether these companies publicly disclose their management practices and/or performance information relating to a wide range of topics and takes a closer look at three interrelated themes in greater detail:
- Biodiversity and nature-based solutions
- Indigenous reconciliation
- Respect for human rights
Key Canadian trends in sustainability reporting
Based on Canadian N100 insights from KPMG's Global Survey of Sustainability Reporting 2022
94% of Canadian companies now report on sustainability
45% of Canadian organizations that report on sustainability seek third-party assurance
49% of Canadian companies recognize the risk of biodiversity and nature loss to their business in their reporting
Biodiversity
The variety of life on earth, including animals, plants and other living organisms and ecosystems in which they live.
Natural capital
The stock of the earth's renewable and non-renewable resources, including trees, soils, air, water, and all living things.
72% of Canadian companies acknowledge the financial risks of climate change in their reporting
Top 3 sectors that acknowledge climate-related risks
to their business in Canada:
Oil and gas
Transport and Leisure
Utilities
80% of Canadian companies that report on sustainability publicly disclose carbon reduction targets
Top 3 sectors in Canada likely to report carbon targets:
Automotive
Oil and gas
Utilities
3 out of 5
Three-in-five Canadian companies (61%) report
climate risk in line with TCFD recommendations
of which 33% publish these disclosures in a standalone climate report
Top 3 sectors in Canada reporting in line with TCFD recommendations:
Insights and resources
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