26 Feb 2016

Institute of Directors supports NZX reporting boost

5:59 pm on 26 February 2016

The Institute of Directors is in support of tightening up the reporting requirements for New Zealand's public-listed companies.

The sharemarket operator, NZX, is looking to update the reporting code - which hasn't been touched since it was brought in in 2003.

Institute of Directors chief executive Simon Arcus said its survey of New Zealand's top 20 listed companies had found about 65 percent reported in some form on environmental, social and corporate responsibility, but only 8 percent reported on health and safety.

"We need to make sure we work through it in a really sensible way so that New Zealand business can represent itself - both fairly - but also as useful data for the rest of the world and for investors to read," he said.

Simon Arcus said the NZX's recent guidance on gender reporting had made some difference, with the number of women directors rising to 17 percent in 2015, from just 12 percent in 2013.