Sept. 16, 2008 - A new study of the websites of Fortune 50 companies says sustainability reporting is still being used to position companies favorably on green issues, rather than to hold companies accountable to stakeholders for environmental performance.

The study, by KDPaine & Partners, finds that though environmental policies, goals, and awards are common on most corporate websites, accountability is low, with few explaining the significance of unfavorable results or including third-party verification in their reporting.

Some key findings:

The majority of the Fortune 50 are providing some kind of environmental information online, but there is room for improvement in using the web to enhance the transparency of the reporting process. There is little evidence of stakeholder involvement in the environmental sustainability reporting process. Involving third party groups that provide reporting standards helped organizations to be more transparent in their reporting process.

The number of S&P 100 companies with corporate sustainability websites has increased 48% since 2005, according to a report released in July.

Yet while many companies are embracing the reporting concept, most aren't giving us the whole picture, says Mark McElroy, founder of the Center for Sustainable Innovation (CSI),and developer of a new reporting standard called the Social Footprint.

To read the report, Measuring the Transparency of Environmental Sustainability Reporting Through Websites of Fortune 50 Corporations, click here (PDF).