Sustainability reporting has become an important tool for strengthening risk management for companies. Nevertheless, facing social and environmental risks is often beyond the control of the company, and often affects business in many ways. Managing these risks requires making investments today to create longer-term strategies. Hence, an investment in a good sustainability report can help in identifying these risks and aid in an organisation’s decision-making process.
Communication of Performance
Companies need to show their sustainability standard in a concrete, data-based and credible way by following acceptable standards for sustainability reporting In this modern age. Gone are the days of traditional “take-make-dispose” business operation as pressure on creating sustainable businesses grew stronger. It is vital then for companies to communicate their sustainability and ESG (Environmental, Social and Governance) performance as well as other contributions to the environment and society to stakeholders and even the general public.
Communication of one’s sustainability performance is not the only reason to create a sustainability report. It is also vital in identifying and conveying corporate value.
In a recent study by PWC in the UK, it was found that up to 71% of companies define their organisational goal to be more than just creating revenue for their shareholders, thus redefining the traditional business models.
As a Requirement
Other institutions also use sustainability reports as a requirement such as for green labels, certificates and green bonds. For example, as of 2020, it is compulsory for companies to report their sustainability performance in Indonesia to gain a public status (Peraturan Otoritas Jasa Keuangan (POJK) No. 51 2017).
Sustainability Report with easySR
easySR offers an easy solution for corporate sustainability reporting. We help you in regularly reporting their sustainability performance to the government, specifically in compliance with the Global Reporting Initiative (GRI) standards. We also assist in managing your data effectively and make it easier for preparing a sustainability report that is in accordance with the globally-accepted GRI Standards.
Find out more here
Why Do Sustainability Reporting?
While corporate accountability and performance improvement initially drove to the reporting movement, years of practise have revealed a purpose is even deeper and more transformational. That purpose is the redefinition of corporate value and value creation.
– Allen White, co-founder and former CEO of GRI, founder and co-chair of Global Initiative for Sustainability Ratings