How firms use ESG report titles as communication tools

ESG reporting is currently a voluntary disclosure practice in Canada. In the absence of regulation, firms can determine how to present annual ESG reports to various stakeholders. Because report titles and subtitles are a means to attract attention, establish associations based on brief and often single exposure, and differentiate firms, title and subtitle choice represents a consequential decision for reporting firms. 

Researchers from the Climate Measures and Reporting Impact Lab at the John Molson School of Business examined the sustainability reporting by TSX 60 firms and found considerable variability in what Canada’s largest firms convey in report titles and subtitles. 

Report titles: Insight on focus and scope of sustainability reports  

The 58 TSX 60 companies that report on sustainability used a wide range of report titles to reflect the focus and scope of their ESG reporting.  

The majority of firms refer to their reports as sustainability reports (53.4%), with many firms also describing their reports as ESG reports (20.7%). A few firms use titles that paired sustainability with ESG or climate, among others (6.9%). 

This pattern suggests that firms prefer frequently used, descriptive labels over more unique titles for voluntary ESG reports in corporate communication, as those labels are more likely to meet broad stakeholder expectations and aid discoverability. The remaining 19.0% of reports employ varied titles. Some adopt report labels, such as stewardship, corporate social responsibility, and the greater good, to project a moral or purpose-driven identity, while others use more specialized vocabulary, such Annual Integrated Report, which combines their financial and non-financial disclosures in the same document. While this vocabulary is known to stakeholders in the field, the general public might be less familiar with its meaning. 

Report subtitles

Of the 58 firms issuing sustainability reports, 20 (34.5%) also included a report subtitle, whereas most firms present their ESG reports without an additional subtitle. Subtitles show several characteristics that point to their importance as communication tools.

Action verbs (e.g., building, energizing, serving, innovating, improving) constitute an element that is frequently employed in ESG report subtitles (50%). Many reports additionally include references to sustainable or responsible firm actions in the subtitles of their ESG reports (25%). Subtitles are also characterized by the frequent use of positive adjectives or adverbs (e.g., exceptional, better, brighter, trusted; 25%).

Many subtitles also suggest future-orientation, with subtitles including the word “future” (15%). Other words frequently used in subtitles include “thrive,” “connection,” and “purpose” (10%). Several subtitles also refer to the firm being inclusive or including people and planet in their consideration (10%). 

In many cases, a geographic scope (e.g., global, local, Canadian, and —most frequently — world) and the product or industry central to the firms’ operations (e.g., metal, energy, natural gas) is also mentioned in ESG report subtitles (15%). 

Overall, subtitles reinforce the content indicated by the report titles while providing information regarding the vision, scope, motivations and industry context underlying firms’ ESG efforts.  

ESG report titles: Quo vadis?

Report titles and subtitles are cost-effective, easily accessible communication tools, and can serve as a means of differentiation. This analysis of report titles and subtitles suggests that many firms do not make use of subtitles to communicate their commitment to ESG objectives and performance to various stakeholders. 

For firms currently not describing their reports as related to sustainability, ESG, corporate social responsibility, or climate action, inclusion of these terms is recommended to better communicate the nature of their reporting and the importance of ESG to the firm.

Reporting subtitles then offer a means of differentiation and the inclusion of unique terms could be beneficial to attract stakeholders’ interest, increase familiarity with the firm and its ESG efforts and to create unique, positive associations. 

Read the full article: Bodur, O., Grohmann, B., Tekathen, M., & Wei, Y. (2025). The Subtility of ESG Report Sub-Titles. In H. Al Maleh et al. (Eds.), 2025 ESG Reporting Radar: TSX 60 Spotlight (pp.8-10). Climate Business Institute, Concordia University, John Molson School of Business, Montreal, Canada. 

About the John Molson Climate Business Institute  

The John Molson Climate Business Institute (CBI) focuses on rethinking how businesses operate to better align with environmental goals, social well-being and organizational principles. By conducting practical research, collaborating with stakeholders and offering educational programs, the institute drives meaningful change and helps businesses tackle the challenges of the modern world.  

About Climate Measures and Reporting Impact Lab  

The Impact Lab on Climate Measures and Reporting drives business decarbonization and environmental progress through research, teaching and community engagement. It focuses on improving climate-related communication, guiding businesses in transitioning to sustainable models and enhancing methods for measuring and managing emissions. By aligning strategies with sustainability goals, the lab helps organizations meet stakeholder expectations, improve decision-making and build trust in their environmental performance.