Sustainability reporting allows organizations to consider their impacts on a wide range of sustainability issues, enabling them to be more transparent about the risks and opportunities they face and take smart strategic decisions.
Sustainability reporting in a nutshell
A sustainability report is a report published by a company or organization about the economic, environmental and social impacts caused by its everyday activities. The report also presents the organization's values and governance model, and demonstrates the link between its strategy and its commitment to a sustainable global economy. Sustainability reporting can be considered as synonymous with other terms for non-financial reporting; triple bottom line reporting, corporate social responsibility (CSR) reporting, and more. It is also an intrinsic element of integrated reporting; a more recent development that combines the analysis of financial and non-financial performance.
Sustainability reporting as an enabler for development
Sustainability reporting is an enabler for businesses to work towards sustainable human development. With sufficient information on their impacts on human development and the environment, organizations can understand where opportunities lie for them to work towards sustainable economic and social development. In addition, consumers, the public and communities become more aware of the impacts of corporations and are empowered by the information that is shared in the sustainability reports.