Companies’ communication to SRI investors is typically ad hoc and reactive when it should be pro-active and structured.  Disclosure should proceed on an orderly basis through the following steps:

  • Publishing a sustainability report;
  • Answering supplementary questions from investors and ratings agencies;
  • Holding in-depth meetings with key investors;
  • Gathering feedback and feeding this into next year’s programme

For example, a timetable for ABC Inc could include the following elements:

  • 14 April 20XX – Publication of Sustainability Report
  • 14 Apr – 30 May 20XX – Questionnaire answering period
  • 15 June – 16 June 20XX – SRI roadshow dates

In determining this timetable, companies will clearly be driven by their own corporate reporting timetable.  However, they would also be advised to show sensitivity to:

  • When other companies in the sector report – investors always welcome the opportunity to compare peers within sectors
  • When all other companies report – to avoid the investor overload that would occur if all companies choose the same timetable
  • Governance season – companies should seek to avoid the two month period before AGMs when analysts with combined SRI and Governance responsibilities have to focus on voting