Want to understand sustainability reporting better? Let us guide you through this important topic so you can learn how to use it to your advantage and drive positive change.
The world is changing and, as customers increasingly demand sustainable practices, companies must adapt accordingly. In fact, a 2017 Edelman survey found that 51% of respondents were influenced by a company's commitment to social values during the purchase process. By 2023, this number had increased to 63%. One way to implement change is by adopting sustainability reporting in your organization, which can help you can stay ahead of market shifts and demonstrate your commitment to sustainability to your clients and stakeholders.
Sustainability reporting involves publicly disclosing information on your company's environmental, social, and governance (ESG) practices, including your environmental impacts such as greenhouse gas emissions and water usage, as well as your service innovation or community involvement. You can publish this information in standalone sustainability reports or integrate it within financial reports – the latter case is what we refer to as sustainability in accounting, which is a specific aspect of sustainability reporting. By doing this, you promote transparency and accountability within your organization and can take action to improve your sustainability performance.
You can gain a lot by prioritizing sustainability reporting in your business strategy. All in all, adopting sustainability reporting will provide your company with a platform to communicate about its positive impact on the environment, society, and economy. Are you looking for additional ways to improve your decision-making process? Discover how we can give you access to complete and up-to-date financial data and metrics.
A sustainability reporting framework is like a guidebook for your company to report on its efforts to be more sustainable. They provide clear guidelines and standards for reporting on sustainability performance, using a language everyone can understand. Selecting the framework that relates to your ambitions and industry will help you identify your strengths and weaknesses faster. We've handpicked a selection of frameworks and outlined their differences to assist you in finding the best match for your business objectives:
It is by far the most popular framework as you don’t need to have extensive knowledge or resources on sustainability reporting to be able to adopt it. The GRI system provides guidelines to report on the most prevalent sustainability issues, such as governance, human rights, labor practices, or environmental impacts. Its particularity is that it places a strong emphasis on stakeholder engagement, helping you identify and prioritize topics that are most important to them.
It’s the one you should select if you’re looking for a framework that gives you greater freedom. With its broad approach broken down into four categories (environmental, philanthropic, ethical, and economic responsibility), this framework will help your organization in its path toward more “social responsibility”. The plus? When successfully implemented, it usually results in an increased brand image and employee retention.
Compared to the GRI and CSR frameworks, the SASB offers industry-specific guidance to tackle sustainability efforts. By focusing on materiality – in other words, how sustainability, or lack thereof, affects your company’s operations or reputation – the SASB framework gives your investors the keys to approach your company’s long-term financial performance.
Our platform helps you become familiar with sustainability reporting, so you can address the challenges of growing sustainability efforts. Don't wait for change to happen -- take action now and implement sustainable reporting with A-INSIGHTS.
Sustainability reporting discloses a company's economic, environmental, and social performance to stakeholders. It helps organizations communicate their sustainability goals and strategies to investors, customers, employees, and the public. Reports can be standalone or integrated with financial reports, and cover various topics such as environmental impact, social practices, and community involvement.
Sustainability reporting in accounting integrates sustainability information into a company's financial reporting for a more comprehensive view of its performance, including economic, environmental, and social impact. It can be voluntary or mandatory, depending on regulatory requirements. Sustainability reporting promotes transparency, accountability, and sustainable business practices, and encourages companies to improve their sustainability performance.
A sustainability framework is a set of guidelines and standards that helps companies report on their sustainability performance. It provides a structured approach to identifying, measuring, and disclosing sustainability-related information that is relevant to a company's stakeholders.