While 70% South African companies support the introduction of mandatory sustainability reporting, only 28% consider themselves reads to comply with mandatory disclosures, according to a survey undertaken by financial services firm Alexforbes.
Respondents cited resource constraints, data collection challenges, complexity of reporting standards, shortages of expertise and costs as key sustainability reporting challenges.
The study found broad agreement that policymakers and regulators should support companies with any sustainability requirements – with guidance and support for training and skills development identified as the areas that should be prioritised.
Notably, Alexforbes found that 69% South African companies already report some sustainability information even though only 38% are required to do so.
Companies:Alexforbes
