Why do I need a sustainability report?
Sustainability reporting is an excellent management tool to assess the environmental, economic, social and governance performance of any organisation, business, or institution. It is a method of internal or external communication with the organisation's stakeholders, although it has also been used as a benchmark to compare an organisation's performance with its competitors. It is widely considered a reliable external sustainability measuring rod.
Sustainability reporting involves publishing an annual report and/or self standing reports showing general sustainability policy statements, and including environmental, economic, social, ethical and governance performance indicators, culminating in its contribution towards sustainable development. Essentially, it establishes goals and targets against which future performance can be measured.
Many governments - especially in developed countries - have introduced regulatory sustainability reporting regulations, and consequently most sustainability reports are mandatory today. This is due to greater pressure from financial institutions- institutional investors in particular- for improved information about the relevance of sustainability risks.
Sustainability reporting involves publishing an annual report and/or self standing reports showing general sustainability policy statements, and including environmental, economic, social, ethical and governance performance indicators, culminating in its contribution towards sustainable development. Essentially, it establishes goals and targets against which future performance can be measured.
Many governments - especially in developed countries - have introduced regulatory sustainability reporting regulations, and consequently most sustainability reports are mandatory today. This is due to greater pressure from financial institutions- institutional investors in particular- for improved information about the relevance of sustainability risks.
Which is the best report for your organisation?
We found that many corporations still struggle with deciding which ratings and rankings to prioritise. Until now, there is no single mandatory, internationally accepted sustainability reporting framework to ensure a common approach to indicators, measurement, accounting, reporting and verification. The most commonly used are:
- Carbon Disclosure Project (CDP)
- Global Reporting Initiative (GRI)
- United Nations Global Compact (UNGC)
- ISO 26000 Guidance Standard on Social Responsibility
- OECD Guidelines for Multinational Enterprises
- Greenhouse Gas Protocol (GHG Protocol) Corporate Standard
- International Labour Organization (ILO) Tripartite declaration of principles concerning multinational enterprises and social policy