Has the Companies Act made a difference?

My recent research shows that the Companies Act seems to have made little difference to what companies actually report.

Companies are supposed to have a business review and that should contain reference to non-financial information. But the key findings are that for the FTSE100:

  • 8% have no clearly identifiable business review, leading to confusion for shareholders and stakeholders alike.
  • 17% made no reference to environmental issues, despite wide acceptance that climate change is a business risk.
  • 8% completely failed to include any social issues in their business review; 14% failed to include any social issues other than labour.