All 55 state owned companies in Sweden have to file an annual sustainability report based on the Global Reporting Initiative (G3) Guidelines before the
31 March each year from 2009, the Swedish Government announced toda
In a bid to improve the sustainability performance of state owned companies and ensure the effective and transparent use of public money, the Swedish Government has been the first government in the world to introduce such sustainability reporting measures.
"GRI welcomes the leadership of the Swedish Government in giving priority to
sustainability reporting. In using the GRI G3 Sustainability Reporting Guidelines, Swedish state-owned companies will have at once an excellent internal management tool and the most widely recognized external reporting framework. The users
of the information will have a more informed assessment of these companies’
It will also enhance their brand, reputation, marketplace differentiation from other companies and will give them a competitive edge over companies not reporting.
The international market is now rewarding companies which report on the impacts their operations have on the economic life of the community in which they operate", said Mervyn King, Chairman of the GRI Board of Directors.
Vattenfall, which is fully owned by the Swedish State, is one of around 25 Swedish companies that already use the GRI Guidelines, the world’s most widely used sustainability reporting framework: "At Vattenfall sustainability reporting has added significant value to the business as a means to demonstrate our commitment to sustainability and as an internal management tool" said Lars Josefsson, CEO. "The GRI guidelines that we have used in our reporting since 2003, are an excellent tool for us to communicate our results related to sustainability to our stakeholders".