Ten top companies fail disclosure test

Union-funded research by sustainability consultancy Banarra covered reports from ANZ, BHP Billiton, BlueScope Steel, Coca-Cola Amatil, Foster's, NAB, Orica, Rio Tinto, Wesfarmers and Woolworths.

It found the companies' sustainability reports had a low level of consistency with global reporting guidelines for nine out of 10 areas relating to labour practices.

Occupational health and safety was among the areas ranked "low" for consistency.

"While companies usually report some information on injury, illness and absentee rates, not one out of the 10 reviewed companies has reported completely against this indicator," the research found.

The 10 areas of labour practices were those identified by stakeholder groups, including investors, as being of interest.

The report found that the needs of a stakeholder interested in the labour practices performances of Australian companies were not being met.

Banarra managing director Richard Boele said the report should help super funds demand better information from companies.

"I think where they [companies] have really struggled to account transparently for their performance is in terms of their impact on their employees," Mr Boele said.

The Construction, Forestry, Mining and Energy Union funded the study, with the report noting that while workers and unions were stakeholders, they were "generally not engaged in this process in the Australian context".

CFMEU national president Tony Maher, who called for an overhaul of the way companies reported on sustainability, said companies were failing to report adequately on issues including workplace safety, work conditions and job security.