Anglo-American chairman Sir Mark Moody-Stuart was speaking ahead of a forthcoming Ethical Corporation Institute conference that will look at the importance of CSR reporting for blue chip companies.
He said: 'Companies that do not transparently communicate their sustainability performance are running out of excuses.'
Despite a 10,000 per cent increase in companies reporting their CSR performance over the past ten years, many are still not reporting in an engaging way, according to the conference organisers.
The second annual Corporate Responsibility and Communications Summit will feature keynote speeches by British American Tobacco international sustainability manager Jennie Gibbons and Danone sustainable development integration director Jean Christophe Laugee.
The event will provide expert advice on how to improve CSR reports. It will take place in London on 25 and 26 November.