KPMG: 78 percent of large Hungarian companies prepared a sustainability report last year

According to the consulting firm’s international survey, leading domestic companies perform in line with the world average in terms of sustainability reporting, although the majority of them report as foreign-owned companies through their parent companies, so the results do not solely reflect the steps taken in Hungary. Automotive and pharmaceutical companies proved to be the best domestically, with a 100 percent reporting rate, they wrote.

According to the statement, 65 percent of Hungarian companies that publish sustainability information mentioned climate change, 64 percent social risks, and 62 percent corporate governance challenges as business risks. Reducing carbon dioxide emissions has been a priority for years, and accordingly, the proportion of those in the top 100 Hungarian companies who have prepared a decarbonization strategy has increased from 70 percent to 92 percent since 2022. According to KPMG, this is also a significant achievement because the average of the 100 largest global companies is 80 percent.

However, they noted that due to the tightening of sustainability expectations, companies will have to make more serious efforts, and not only the largest ones, as there will be an increasing expectation for small businesses to meet these criteria. In the future, companies will have to report much more comprehensively than now on their sustainability strategy, objectives, risks and opportunities, they emphasized.