Scoring Sustainability Reports using GRI indicators: A Study based on ISE and FTSE4Good Price Indexes

Hong Yuh Ching, Fabio Gerab, Thiago Henrique Toste


The objective of this research is to verify the level of adherence to the GRI indicators that Brazilian companies listed in ISE and those listed in FTSE4Good are using in their 2011 sustainability reports and what are the differences between these two groups. The research design combines both quantitative and qualitative methods. The target population consists of 70 companies, 35 from ISE and 35 from FTSE4Good. Content analysis was used to analyze the indicators disclosed in the reports and the information presented was classified in three categories of scoring according to its level of disclosure. On average, ISE companies scored 0,5867 and FTSE4Good scored 0,4451. The best company scored 0,924 and the worst of 70 companies scored 0,105. Overall, our statistical results show that ISE companies are more adherent to the GRI indicators than FTSE4Good companies, mainly in the economic and social dimensions. Yet, the companies spay similar attention in all 3 dimensions, regardless of economic sector and index. We can say that good sustainability reports showing deeper sustainability concerns and business practices related are acting accordingly to the Stakeholder and Legitimacy theories, regardless of their level of adherence to GRI

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