Sustainability reporting has entered a new era as the business impact of sustainability is more apparent and stakeholder expectations drive legislation, reporting frameworks and practices.
Sustainability reporting has entered a new era as the business impact of sustainability is more apparent and stakeholder expectations drive legislation, reporting frameworks and practices. If you already contribute to sustainability reporting – congratulations!
I believe that those who are starting their sustainability reporting journey with the sole target to be compliant with the EU Non-Financial Reporting Directive (NFRD), will find more business case in it than they thought.
Most companies are working on making their reporting governance, processes and practices more efficient, less error prone and easier to control and audit. Reporting is not only driven by demand but also by active supply, as it is crucial to equip stakeholders with relevant and credible information.
Be active, relevant and creative. The ways of reporting and providing value to stakeholders are countless!
During the past couple of years, there has been much discussion about the form, context and contents of corporate sustainability reporting. This discussion is flavored by three important developments.
Results from the KPMG Reporting Survey reveal that reporting on sustainability is increasingly an integral part of annual financial reporting. Nordic companies have room for improvement as concerns climate disclosures, supply chain management, approach on human rights and reporting on value creation. I am, however, pleased to note that Swedish (number 1!) and Finnish companies are among the world’s top in reporting on how they contribute to the SDGs.
Whether you are a new entrant on the market for sustainability reporting or an experienced master of disclosures, know that you have an important job. Use your influence wisely!