Partner for Financial Stability has released its latest finding on reporting quality in Central and Eastern Europe, noting a significant increase in the number of CEE blue chip companies issuing stand-alone English-language environmental, social and governance (ESG) reports.

The number of companies offering an English report has now reach 41 compared with 28 companies in September 2008. In marked contrast to all 11 of the previous PFS surveys, disclosure of corporate governance information remained relatively stable whereas disclosure of environmental and social data increased, reflecting increases in almost all countries. 

In BRIC, 19 companies issued a stand-alone English-language ESG report in April 2009, compared with 17 in September 2008. In particular, there was more disclosure of information about compliance with a corporate governance code and employment policy. In other areas, disclosures remained roughly the same or decreased slightly. As a group, BRIC blue-chips generally outperform CEE peers; however, the gap continues to narrow and a few CEE countries approach the disclosure levels found in BRIC.

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