It is not for companies to solve the mental health crisis on their own, but research shows workplaces can make a significant difference. This research assesses ASX20 companies against the CCLA Corporate Mental Health Benchmark to support a better understanding of the baseline state of publicly availably mental health reporting in Australia. 

Alongside the human toll of mental health issues, The Productivity Commission prices the related productivity loss at $17 billion annually. It is not for companies to solve the mental health crisis on their own, but research shows workplaces can make a significant difference. 

This ACSI commissioned research assesses ASX20 companies against the CCLA Corporate Mental Health Benchmark. to support a better understanding of the baseline state of publicly availably mental health reporting in Australia. We appreciate the work of companies to promote staff wellbeing and address workplace mental health, but there is a lack of clarity about the best practice approaches currently used in the market. This research examines the quality of ASX20 companies’ public reporting on mental health, evaluating corporate practices and disclosures, focusing on governance and management systems that shape workplace outcomes. 

The review provides investors with an assessment of efforts to support workplace mental health and identifies opportunities for companies to improve practices in this area.
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Headline findings:

Workplace mental health is an under-reported sustainability topic

• Engagement with companies during the review indicates that public disclosure does not fully reflect the level of activity underway. Given the importance that investors place on transparency, this disclosure gap presents an opportunity for more comprehensive and decision-useful reporting.

Psychological wellbeing is on the business agenda

• 95% of ASX20 companies acknowledge workplace mental health as an important business issue. Almost half (45%) explicitly identify business drivers, including employee retention, improved customer outcomes and increased regulatory scrutiny, underscoring its growing relevance to performance and risk management.

Disclosure on mental health is strongest on visible programs rather than outcomes

• The majority of ASX20 companies report on mental health support offerings. Over four-fifths (85%) disclose multiple support services, such as Employee Assistance Programs (EAP), and inperson or remote counselling, while 80% describe awareness-raising initiatives, including workforce-wide training and internal campaigns. By contrast, disclosure on outcomes and effectiveness remains limited.

Operational accountability for workplace mental health is underdeveloped  

• While 60% of ASX20 companies report board- or senior management-level responsibility, only 25% disclose clear day-to-day operational accountability. More transparent reporting on structures and responsibility would strengthen investor confidence that strategies are being implemented consistently.    

Advocacy signals leadership on mental health, but transition into culture and governance arrangements is uneven

• CEOs at almost half (45%) of ASX20 companies have publicly signalled their commitment to workplace mental wellbeing. However, only 25% of companies disclose a formal commitment to fostering a culture of openness. CEOs are uniquely placed to shape organisational culture and signal expectations that support openness and psychological safety.