Public Sector companies which are part or fully owned by government have a very long way to go in terms of sustainability reporting. I haven’t seen a single good report which is complete and adheres to all the global guidelines and expectations from the report.
I am talking about all Voluntary Disclosures that they need to make as part of the annual reporting.
These Public Sector companies are mammoth organizations and are not able to manage the right collection and measurement of data. They all have a way of working around.
The look and feel of the report is also not up to the global standards as they don’t worry too much on the branding and communications.
Public Sector companies donate a very large amount of money and means for the social causes but no one has measure the impact %. I have seen that they do lot of work, but rarely all the initiatives are documented and any KPI calculations are done.
They have also taken lot of green initiatives to become low carbon internally and support it socially. But it’s not managed as a corporate strategy and not discussed in board rooms. May be the board thinks it’s not relevant and not worth their time. But this needs to change and future investments will gave to be based on ESG Factors and Performance.
It’s high time that government also takes it seriously and ensures these mammoth organisations start making money. That’s why some of these Public Sector companies have become huge liabilities instead of money making units. I have always believed, any company can be made profitable.
Process Management, Change Management and Operational Excellence is the need of the hour for such mammoth companies and transparent disclosures will also help the brand. Till the time they are not being sold.
I saw some reports and there is no data on carbon footprint and emissions. There is no data on operational excellence and management as an impact of the social and governance policies and initiatives.
There are lengthy voluminous texts but no relevance to any Carbon Emissions, Gender Disparity, Income Disparity, Escalation Matrix, Governance and many other ESG factors. The only good part is lot projects for local community development, but even that’s not tracked and impacts % are not measured and mentioned in the reports.
All Public Sector companies can be made profitable and transparent, it’s all about putting right processes in place. The team exists, data exists too. They just to start putting all of it together.