Companies in the Asia Pacific region are increasingly producing reports about their corporate responsibility, updating investors on not just their financial results but also their social and environmental impacts.
More than seven in 10 large Asia-Pacific firms now publish corporate responsibility reports, up from less than half in 2011, according to a survey by audit firm KPMG.
This puts the region's companies nearly on par with those in Europe and the United States, KPMG said. The firm surveyed 4,100 companies around the world, comprising the 100 largest businesses across each of 41 countries.
Singapore is one of the top three countries with the highest increase in reporting rates across the world, KPMG said. Eight in 10 Singapore companies reported on corporate responsibility this year, almost double the figure two years ago.
Only India and Chile saw bigger jumps in their reporting rates, KPMG said.
"If anyone still thinks that Asia is a corporate responsibility dead zone, this survey is clear evidence that they should think again," said Mr Sharad Somani, head of climate change and sustainability services in KPMG in Singapore.
"The companies surveyed in the Asia Pacific region clearly recognise that doing business anywhere in a globalised 21st century world requires you to account for not just your financial performance, but also your social and environmental performance."