The CFMEU calls for an overhaul of Sustainability Reporting to prevent poor reporting of labour practices.

A detailed study of the Sustainability Reports of major Australian companies shows they are failing to report adequately or at all on key labour issues like workplace safety, work conditions and job security, according to an independent report released today by the CFMEU Mining and Energy Union.

2010 Labour Practices in Sustainability Reporting by leading sustainability analysts Banarra shows the ten major companies are mostly under-reporting their labour practices and thereby undermining Sustainability Reports as an accurate representation of their corporate activity.

The deficient reporting of labour practices has led to Banarra calling for a major improvement in the level and consistency of such reporting, in order to comply with the established global framework for sustainability reporting, the Global Reporting Initiative.

CFMEU Mining General Secretary Andrew Vickers said that Sustainability Reporting standards must improve with revelations that the reports of major companies cannot be relied on to have reasonable levels of transparency around social and labour practices.

“We ought to be able to rely on Sustainability Reports as a public record or evidence of a company’s conduct; it is imperative that such reporting not be poor, inconsistent, or misleading.” said Mr  Vickers.

“A commitment to improved reporting would bring these reports in line with the international standards, and ensure that stakeholders are getting an accurate representation of corporate risks, performance and citizenship.”

The ten companies selected for the study represent a variety of industry sector and are all substantial employers directly or indirectly, and have been producing Sustainability Reports for at least three years. They are:

ANZ, BHP Billiton, Bluescope Steel, Coca-Cola Amatil, Fosters Group, NAB, Orica, Rio Tinto, Wesfarmers, Woolworths.

“We call on major Australian companies to improve their reporting and engage in rigorous scrutiny of that reporting against established international benchmarks; otherwise how can investors and stakeholders rely on the contents of Sustainability Reports with any confidence?” said Mr Vickers.

For more information or to arrange an interview please contact: Hamish Quinn 0424 263 648

• The full report (96 pages), a summary (23 pages), a flyer (4 pages) and this media release are available as downloads from this page.