The “ESG Transparency Index” survey, presented by Forbes in this month’s Greek edition, highlights the pioneers of Greek entrepreneurship in terms of transparency levels on Environmental, Social, and Governance (ESG) issues. The purpose of the research is to capture the current status of the 100 largest companies in Greece based on their transparency levels on ESG issues, using specific sources of public reporting and disclosure criteria. The data collection sources used were sustainability reports and annual financial reports/management reports with reporting year 2021. The companies in the sample were evaluated based on indicators from leading global non-financial reporting standards such as GRI, SASB, TCFD, ESRS, and the ATHEX ESG Guide.
The “ESG Transparency Index” survey presented by Forbes provides several insights and conclusions about the level of readiness on ESG issues of Greek companies. Some of the key findings and conclusions include:
- Relatively low ESG Transparency: The survey found that Greek companies generally have a low level of ESG transparency, with an average score of only 33 out of 100. This indicates that there is significant room for improvement in terms of ESG reporting and disclosure.
- Lack of Disclosure on Social Issues: The survey also revealed that Greek companies have the lowest level of disclosure on social issues compared to environmental and governance issues. This suggests that Greek companies need to focus more on reporting and disclosing their social impact and performance.
- Banking and Energy Sectors Leading: The highest-scoring companies were in the banking and energy sectors, while the lowest-scoring companies were in the food and beverage and retail sectors.
- Global Standards Usage: The survey evaluated companies based on indicators from leading global non-financial reporting standards such as GRI, SASB, TCFD, ESRS, and the ATHEX ESG Guide. This highlights the importance of using global standards to ensure consistency and comparability in ESG reporting and disclosure.
- Investors’ Interest: The increasing interest of investors in ESG issues is also driving the need for companies to improve their ESG reporting and disclosure. Companies that are transparent about their ESG performance and impact are more likely to attract investment and retain investor confidence.
The “ESG Transparency Index” survey suggests that Greek companies need to improve their ESG reporting and disclosure to keep up with global standards and meet investors’ increasing expectations.
Forbes is a global media and publishing company that is well-known for its business and financial news coverage. Its flagship publication is Forbes Magazine, which is known for its annual lists of the world’s wealthiest people and the most powerful people in business. Forbes has a reputation for providing trusted and insightful business news and analysis to readers around the world.
Net Zero Analytics is an advisory firm that assists businesses in creating, communicating, and implementing their environmental, social, and governance (ESG) and sustainability plans. We aid in areas such as reporting on sustainability performance using different ESG frameworks, creating strategies, and evaluating what issues are most relevant to the company. This not only helps companies comply with disclosure regulations like CSRD but also allows them to proactively share their plans with stakeholders such as lenders, investors, customers, and the communities where they operate. Our primary focus area is South-East Europe.