ONGC improves Transparency ranking to 26th, up 13 notches
The latest Transparency International report 'Transparency in Corporate Reporting: Assessing the World's Largest Companies' lists ONGC at 26th position among world's 124 largest publicly listed companies.
ONGC was ranked 39th in the report which was last published in 2012 (among 105 companies). This huge leap in transparency rankings shows the excellent corporate governance practices of ONGC, being there among the world's best names. ONGC scored an aggregate index of 4.8 against a global average of 3.8.
The report by Transparency International evaluates the transparency in corporate reporting by the world's 124 largest publicly listed companies. The report assesses the disclosure practices of companies with respect to their anti-corruption programmes, company holdings and the disclosure of key financial information on a country-by-country basis. It follows on from a 2012 report which focused on the world's 105 largest publicly traded companies.
Corporate reporting is measured on three dimensions that Transparency International considers fundamental to achieving greater transparency:
- Reporting on anti-corruption programmes
- Organisational transparency
- Country-by-country reporting
The report notes that Increasing numbers of global public companies are disclosing their anti-corruption programmes but they are still notably deficient in making public the full range of their corporate holdings and key financial information for each country where they operate. Country-by-country reporting is the dimension showing by far the weakest results.
The report is part of a series of studies based on a similar methodology aimed at assessing the transparency practices of companies.
