While public listed companies are increasingly using the internet to disseminate their CSR stories, the stories are apparently lacking in details investors want. A common shortcoming, according to reports, is the failure to use sustainability reporting guidelines like those spelled out by the Global Reporting Initiative.

Firms are also apparently failing to tailor SRI information for investors, or to include information about how dialogue with SRI investors is conducted. These findings have been revealed by a new survey by communications consultancy Hallvarsson & Halvarsson (H&H).

In a review of 700 European companies, H&H finds that 78 percent have dedicated part of their corporate website to CSR, up from 73 percent last year. Of the 150 largest European companies, 97 percent cover CSR topics on the web. In this study, H&H reviews corporate websites and not annual or CSR reports.

In a recent survey by George Washington University, US IROs reveal they have difficulty identifying model CSR communications efforts. The H&H Webranking, though, turns up 14 exemplars, including Centrica, Deutsche Telekom, E.ON and Nokia. Eriksson says these firms fulfill investors’ expectations for online reporting.