A progressive shift is afoot in the corporate reporting world, most neatly defined as an increased awareness of Sustainability Reporting (SR) and its many tangible benefits.
According to a recent KPMG survey, the majority of companies on the Fortune Global 250 list now report on their sustainability practices voluntarily. It comes as no surprise, therefore, that a good sustainability performance can add value to your company, so making sure your stakeholders know about it is key.
Since the global economic crisis, investors, customers and even employees are expecting more from companies than simply profit and growth. Stakeholders are holding firms to account over social, environmental and economic issues too, and companies are proving increasingly responsive.
The concept of SR is now almost twenty years old. But, as a recent Ernst & Young report confirmed, it is only in the past few years that companies have started to perceive SR not just as a voluntary but as a strategic initiative. Whilst there is, therefore, pressure on other companies to keep up with these growing trends, it would seem that businesses not using SR to complement financial reporting are missing a valuable opportunity to engage with their stakeholders.
At Stratton Craig, we’ve been helping organisations such as VINCI Construction UK and the Smith School for Enterprise and the Environment communicate their sustainability messages effectively. Through sustainability and integrated reporting and also websites and conferences, they are positioning themselves at the forefront of trends within their industries.
Given that a national SR framework is currently under consideration, there’s no time like the present for companies to start taking SR seriously. Integrated Reporting is already proving to be a versatile and effective way for companies to combine their financial and sustainability reports, and the success of such initiatives indicates that SR is only going to become more relevant.
Clearly, a good sustainability performance is something to shout about. If this is something you’d like to know more about please contact us on 020 7593 4014 or email Harriette Hobbs – firstname.lastname@example.org.