Sustainability reporting on the agenda

The Governance Group consultancy and BI Norwegian Business School have reviewed and ranked the sustainability reporting of the hundred largest companies on the Oslo Stock Exchange. Orkla placed third in the ranking.

“It is gratifying to see that our efforts are recognised, and that we have achieved a clear improvement from last year, in terms of reporting on climate risk. This is an issue that has become more important in recent years as climate challenges have increased, and we are looking at how we can further improve climate risk reporting,” says Ellen Behrens, Vice President Sustainability at Orkla.

The companies are rated in four areas: sustainability reporting, the companies’ CDP ranking, their report on climate risk management and their integration of the UN Sustainable Development Goals.

“Mowi, Norsk Hydro and Orkla are examples of companies which score top marks in our ranking and which, in our opinion, integrate sustainability into their company reporting in a comprehensive, meaningful way,” the report states.

It also points out that “Orkla also stands out due to its ability to present highly diversified business operations in a simple way, incorporating sustainability as a natural component.”

“It’s important that we have a good structure for our sustainability report, so that we can communicate our sustainability results in a succinct, concrete manner. We also consider it important to be open about sustainability risks and the way they can impact on value creation,” says Elisabeth Aandstad Ekheim, who is in charge of sustainability communications at Orkla.

The companies that achieve the highest overall scores include Equinor, Borregaard, DNB, Orkla, Telenor, Mowi, Norsk Hydro, Grieg Seafood, Gjensidige Forsikring, Yara International, Veidekke, Storebrand, Sparebank 1 Østlandet and Entra.