Sweden pioneers a global first in sustainability reporting

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 in December.

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.

Speaking about the move, Chairman of the Global Reporting Initiative (GRI) Board of Directors said, "GRI welcomes the leadership of the Swedish Government in giving priority to sustainability 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".