What is a sustainability report and why are companies embracing it?

The sustainability report is an annual performance report published by a company or organization on its effects on a wide range of issues, spanning across economic, environmental, and social impacts resulting from their operations including daily activities, whether positive or negative in nature. The Sustainability Report also presents the organization's core values, vision missions, key achievements and governance model. It also explains the link between its short and long term strategy and the commitment towards a sustainable economy for all. We as sustainability reporting consultant help companies in aligning their strategies with sustainable development principles.

Several data including data on resource utilization such as energy, water, raw material as well as emissions and waste, these reports also provide information about employee wellbeing their rights and the company’s social responsibility activities and projects. Being a sustainability reporting consultant we help clients in collecting all such information for reporting purpose.

Once the United Nations developed the idea of sustainable development, several leading companies began to report their performance in relation to the sustainability agenda identified by the UN and in accordance with globally accepted reporting guidelines. Since a large number of companies around the world have committed to publishing sustainability reports, the widely used reporting framework being used is the GRI Sustainability Reporting Framework or the GRI Standards. GE3S as a sustainability reporting consultant has developed several reports in line with GRI requirements.

The sustainability report also helps to set the priorities right for the company under the main headings that concern itself and internal/external stakeholders alike.  The report discloses performance in view of the key performance indicators (KPIs) that have been selected and considered important by the stakeholders. These reports are then made available to the stakeholders or the readers in a manner that allows comparison with previous years KPI performance.

Every organization or company, whether big or small irrespective or their location or nature of work has an impact on its customers, employees, communities and leaves an environmental as well as social footprint. Therefore several companies shave committed to reporting on sustainability issues, and not just the large or leading companies.

Small companies are drivers of economic growth and also provide immense job opportunities, although the business scope of smaller businesses maybe lesser than that of the large companies, the cumulative impact of small companies that are geared towards achieving sustainable goals can have a significant effect that may exceed the result of a few large companies and therefore as sustainability reporting consultant, we advocate most companies to come forward and report on sustainability.

Sustainability reporting helps organizations measure, understand, and communicate their economic, environmental, social, and governance performance. It also helps to set goals and manage change in the organization more effectively. It also helps to increase understanding of risks and opportunities presented by the sustainability challenges. It can also unearth cost reduction opportunities through energy optimization or GHG reduction.