The previous studies found that environmental information provided by most companies was not comprehensive and lacked the quantitative data to demonstrate performance. However, reporting has improved since legal requirements to report significant environmental impacts came into force under the EU Accounts Modernisation Directive.
Among the key findings are that most companies are now referring to an environmental topic in their 2009-2010 annual reports with 67% reporting quantitatively on their environmental impacts. Just over a third of the environmental disclosures were made in the audited sections of companies’ annual report and accounts and 90% of companies included a Business Review. Climate change and energy use are the topics with the most quantitative disclosures.