A study of the emerging markets of Brazil, China, India, Russia, South Africa, South Korea and Taiwan shows that 87 percent of companies are factoring sustainability into their corporate policies. These policies are instituted because more investors are factoring sustainability into their investment strategies, according to a new report from the Social Investment Research Analyst Network (SIRAN).

The study, which included companies in the Energy, Metals and Mining (and Telecommunications, found that based on five criteria for sustainability reporting, South African companies provided the most information while Chinese the least.

However, only 27 percent of the companies follow the widely recognized Global Reporting Initiative (GRI) reporting framework, so there is ample room for improvement.

Reporting and having sound sustainability practices are not the same thing, according to Noel Friedman, managing director of Research Products, KLD, which conducted the survey. Reporting is an important first step, he says. "A sustainability report provides an important tool for stakeholders to communicate with companies about a range of issues, and allows companies to publicly establish goals and benchmarks for improvement."

SIRAN also announced the formation of a new international coalition of NGOs, investment managers, and institutional asset owners to push for improved disclosure in emerging market countries.

Sustainability practices and reporting are becoming assets that many investors and funds are considering. In addition to annual profits, companies also want to keep their stock prices high, and the positive perception of being sustainable influences a share price. We can expect this to only increase in the future.