What is Sustainability Reporting?
An ever increasing number of organisations around the world want to make their operations sustainable. Moreover, expectations that long term profitability should go hand in hand with social justice and protecting the environment are gaining importance, as also regulated by various interested parties like customers, financers, shareholders, law and other stakeholders.
Sustainability reporting helps organisations to set goals, measure performance, and manage change in order to make their operations more sustainable. A sustainability report conveys disclosures on an organisations impacts – positive or negative – on the environment, society and economy. In doing so, sustainability reporting makes issues tangible and concrete, thereby assisting in understanding and managing the effects of sustainability developments on the organisation’s activities and strategy.
What are the standards for Sustainability Reporting?
- GRI – Global Reporting Initiative
- AAI – AccountAbility International
- ISO 26000 – Guidance on Social Responsibility
What it will do?
Sustainability reporting by the organization to the society and other stakeholders can influence:
- its competitive advantage in the business sector,
- its reputation in the market place,
- its ability to attract and retain workers, members, customers, clients or users,
- the maintenance of employee morale, commitment and productivity,
- the view of investors, owners, donors, sponsors and the financial community, and
- its relationship with companies, governments, media, suppliers, peers, customers and the community in which it operates.
What are the principles?
- Accountability
- Transparency
- Ethical behaviour
- Respect for stakeholder interests
- Respect for the rule of law
- Respect for international norms of behaviour
- Respect for human rights
How Intertek can help?
Provide external assurance on sustainability reports by:
- Demonstrating competence in the subject matter and assurance practices
- Reaching and publishing an impartial conclusion on the report
- Implementing assurance in a manner that is systematic, documented, evidence-based and follows set procedures
- Assessing whether the report provides a reasonable and balanced presentation of performance, taking into consideration authenticity of report data and the overall selection of content.
- Assessing the extent to which the report preparer has applied the reporting framework guidelines, i.e. GRI or AAI or ISO 26000.
