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What Is It?
What
Is Sustainability Reporting
A Sustainability Report presents information about a company’s (or organization’s) progress toward implementing sustainable business practices. The report will typically report on progress toward key business objectives:
• Decrease its environmental footprint (including water and energy use)
• Improve its financial bottom line and operate the organization ethically
• Improve its relationships with stakeholders, including relationships with its employees and the communities in which it operates.
Companies have traditionally demonstrated their financial responsibility through quarterly and annual reports, relegating societal accountabilities to public relations efforts and marketing brochures.
Sustainability Reporting adds social and environmental performance to these accomplishments. This marks a major milestone in corporate accountability.
There are many forms that a Sustainability report can currently take, each valid in its own objectives and context. Reporting initiatives can include Environment, Health and Safety Reports, Corporate Social Charters,
A key aspect to reporting is putting in place measures - including baseline measures - and objectives for improvement on these measures. In this way, areas of concern or interest to the audience of a report can be monitored and the organization can demonstrate progressive improvements.
Audiences for these reports will include customers, pressure groups, potential investors, shareholders, fund managers, governmental regulatory organizations and students. Each of these groups will have particular areas of focus and need the information presented in different ways. Communication of information via the Sustainability Report report must be done with sensitivity and care with any and all audiences.
Triple
Bottom Line
The principles of Triple Bottom Line ensure that organizations account equally for Economic, Social and Environmental factors as inputs, outputs and internal processes of their business.
The principles of the Balanced Scorecard provide a strong parallel; however, Triple Bottom Line takes the scorecard into a realm that extends beyond direct impacts of the organization. This now allows an organization to address indirect impacts, long-term and very long-term risk and to take advantage of incentives to be proactive on social and environmental issues.
Ultimately, there is no value in excellence in Environmental Stewardship and Social Initiatives if the organization is unable to sustain itself financially to survive.
Triple Bottom Line websites
CERES and Global Reporting Initiative (GRI)
A sustainability report is often written according to guidelines issued by the Global Reporting Initiative and/or consistent with CERES reporting guidelines
The Coalition for Environmentally Responsible Economics (CERES) was founded in 1988 and is now the worldwide leader in standardized corporate environmental reporting and the promotion of transformed environmental management within companies. Formed out of a partnership between some of America's most progressive investors and environmental groups, CERES has pioneered an innovative, practical approach toward encouraging greater corporate responsibility on environmental issues.
Convened by CERES in partnership with the United Nations Environment Programme (UNEP), the Global Reporting Initiative (GRI) was established in 1997. GRI is now a multi-stakeholder process and independent institution whose mission is to develop and disseminate globally- applicable Sustainability Reporting Guidelines. These Guidelines are for voluntary use by organizations for reporting on the economic, environmental and social dimensions of their activities, products and services. GRI became independent in 2002, and is an official collaborating centre of the United Nations Environment Programme (UNEP) and works in cooperation with UN Secretary-General Kofi Annan’s Global Compact.
GRI is considered, world-wide, to be the best set of guidelines developed to date.