How can you manage sustainable reporting during a transition?

2 Establish your reporting framework

The next step is to establish your reporting framework, which includes the standards, indicators, and data sources that you will use to measure and report your ESG performance and impacts. You need to choose a reporting framework that is relevant, credible, and comparable for your industry and context. For example, you can use the Global Reporting Initiative (GRI) Standards, the Sustainability Accounting Standards Board (SASB) Standards, or the Task Force on Climate-related Financial Disclosures (TCFD) Recommendations. You also need to decide how to align your reporting framework with your transition framework, such as the Transition Monitoring Framework (TMF) or the Transition Pathway Initiative (TPI). By establishing your reporting framework, you can ensure the consistency and comparability of your sustainable reporting.

3 Engage your stakeholders

The third step is to engage your stakeholders, both internal and external, who are affected by or interested in your transition and your sustainable reporting. You need to identify who your key stakeholders are, what their information needs and preferences are, and how you will communicate with them. For example, you can use surveys, interviews, focus groups, or workshops to solicit feedback and input from your stakeholders. You can also use newsletters, webinars, reports, or social media to share information and updates with your stakeholders. By engaging your stakeholders, you can enhance the relevance and credibility of your sustainable reporting.

4 Manage your reporting process

The fourth step is to manage your reporting process, which involves planning, collecting, analyzing, and disclosing your ESG performance and impacts. You need to assign roles and responsibilities, allocate resources, and establish timelines and milestones for your reporting process. You also need to ensure the quality, accuracy, and reliability of your data and information, and apply the principles of materiality, balance, and transparency to your reporting. For example, you can use data management systems, quality assurance procedures, and external assurance services to improve your data quality and reporting reliability. You can also use storytelling techniques, visuals, and interactive tools to make your reporting more engaging and accessible. By managing your reporting process, you can deliver your sustainable reporting on time and on budget.

5 Review and improve your reporting

The final step is to review and improve your reporting, which involves evaluating your reporting performance, identifying your strengths and weaknesses, and implementing actions for improvement. You need to measure and monitor your reporting outcomes, such as the feedback, recognition, and impact that your reporting generates. You also need to benchmark your reporting against best practices, standards, and peers, and identify the gaps and opportunities for improvement. For example, you can use indicators, metrics, and ratings to assess your reporting performance and impact. You can also use feedback mechanisms, audits, and reviews to identify your reporting strengths and weaknesses. By reviewing and improving your reporting, you can ensure the continuous improvement and innovation of your sustainable reporting.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?