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Sustainability reporting is only meaningful if companies are serious about making changes If companies release sustainability reports just to meet regulatory requirements, it’s unlikely to motivate improvement internally, say these professors from the University of Victoria and University of Calgary. Summary: Sustainability reporting is only impactful if companies genuinely commit to making changes, argue professors from the University of Victoria and the University of Calgary. The growing demand for corporate transparency and accountability highlights the need for businesses to disclose their economic, environmental, and social performance through sustainability reports. These reports are designed to offer stakeholders, such as investors and regulators, a comprehensive view of how companies create value over time. Mandatory sustainability reporting is increasing globally, with examples like Canada’s Greenhouse Gas Reporting Program and the European Union’s comprehensive sustainability mandates. However, the effectiveness of these reports in driving actual business practice improvements is debated. Some experts believe that including non-financial data enhances corporate transparency and accountability, potentially aiding progress towards the United Nations Sustainable Development Goals. Despite the potential benefits, sustainability reports often become mere box-checking exercises if they are produced solely to satisfy external requirements. For real improvements, companies need to use these reports to identify internal areas for enhancement and benchmark against peers. Ultimately, the impact of sustainability reporting depends on the genuine commitment of companies to change their practices. Investors benefit from the additional information, which aids in better investment decisions. However, concerns about the trustworthiness of these reports and issues like greenwashing remain significant challenges. Public policymakers can gain valuable insights from these reports, but meaningful change requires companies to be earnest about their sustainability efforts. #Sustainability #CorporateTransparency #Accountability #EnvironmentalImpact #SustainabilityReporting #GreenBusiness #CorporateGovernance #ESG #ClimateChange #BusinessEthics #Greenwashing #InvestorAwareness #PublicPolicy #SustainableDevelopment #CorporateResponsibility

Sustainability not a priority for half of UK firms As COP29 continues (11-22 November), analysis from business and financial adviser Grant Thornton UK LLP reveals that fewer than half (43%) of UK mid-sized businesses have sustainability targets, such as net zero, in place.    According to data from the firm’s quarterly International Business Report, which surveyed 301 mid-sized businesses in the UK (3,748 businesses globally), only 43% of UK businesses have sustainability targets in place, this is found to be higher than the global average (39%).  While many of the UK firms surveyed have still not implemented core steps on their sustainability journey, they are outperforming the global average in several areas including: 🌍 60% have implemented a sustainability strategy (51% globally)  🌍 46% have implemented sustainability reporting (40% globally)  🌍 28% have implemented a sustainability policy (25% globally) The study shows that there are several challenges facing UK mid-sized businesses when complying with sustainability regulations. Top concerns are:  💡 The speed at which requirements change  💡 The capital investment   💡 Understanding the requirements for different jurisdictions  Three-quarters of the firms polled – in the UK and globally – agreed that the need to understand the sustainability requirements of different jurisdictions forms a barrier to international business expansion.  However, almost two-thirds (63%) of the UK businesses polled expect to maintain or increase their investment in sustainability over the next year - above the global (58%) and European (53%) average – to invest in renewable energy, carbon reduction and sustainable procurement.  💡 Brand reputation is identified as the biggest driver behind UK and global businesses’ investment and focus on sustainability initiatives. 

Why are top companies prioritizing Sustainability Reporting? Learn how this trend is reshaping business strategy and why it matters for your company's future. Read our latest blog on the growing importance of sustainability practices in business. https://lnkd.in/dTVmYu4u #SustainabilityReporting #BusinessStrategy #InCorpIndia Dhaval Shah Prakhar Gupta

Greenwashing in action? "Sustainability reporting is only meaningful if companies are serious about making changes". "If companies release sustainability reports just to meet regulatory requirements, it’s unlikely to motivate improvement internally, say these professors from the University of Victoria and University of Calgary. If companies release sustainability reports just to meet the needs of external stakeholders, including regulators, it’s unlikely to motivate internal changes to business operations. Through this lens, reporting may be seen as a box-checking activity." If a company doesn't buy into their own sustainability practices then they really shouldn't bother doing them or reporting on them. They should just be honest and just say we don't give a toss about the planet! We can all see that most of them are lying and greenwashing. You can see examples of this every day on LinkedIn. Some CEO of some ocean polluting company or oil company or some other unsustainable practice using PR and these kind of reports to say that they're sustainable and the sycophants who work for them in corporate comms and beyond happily ignorantly reshare... What do you think? https://lnkd.in/g2Tcpcjc

The focus on environmental and societal challenges has made companies, investors, consumers, and other stakeholders more conscious of sustainability matters. 💡 Over the past decade, new global initiatives and government regulations have pushed companies to be more transparent about their sustainability efforts. Reporting on sustainability is crucial, not only for large multinationals but also for smaller companies to remain in the market and to build a more sustainable economy. During the Sustainability Reporting program, you'll... ✅ understand materiality in sustainability reporting ✅ become familiar with the common voluntary standards and frameworks in sustainability reporting ✅ learn the quality principles of sustainability reporting and the key elements to assurance of sustainability reports ✅ and explore the upcoming regulations and standards developing in Europe Learn more: https://lnkd.in/grnsz3Zv #sustainability #regulation #reporting #CSR #sustainablebusiness

Beyond the title referring to the CIO role, this article does a nice job presenting a Sustainability Maturity model, best practices and some recent trends in sustainability. #Sustainability #CorporateStrategy #ESG

Research has revealed that there is a striking gap - only 8% of SMEs currently report on their sustainability efforts, despite over 60% taking active steps to become more environmentally and socially responsible. This disconnect highlights a major opportunity that needs to be addressed. Many SMEs are committed to sustainable practices but struggle with reporting due to lack of time, expertise, budget constraints, and complex reporting standards. However, there's a glimmer of hope 21% of SMEs indicate they would be ready to embrace sustainability reporting with the right support frameworks in place. That's where Sustaineer comes in. Our team partners with SMEs to simplify the reporting process. We provide tailored guidance on material issues, data collection, stakeholder engagement, and report preparation aligned with leading standards. Our goal is to help SMEs effectively communicate their sustainability journey to investors, customers, and other stakeholders. Sustainability reporting shouldn't be a burden, but an opportunity to enhance brand reputation, attract conscious consumers, and drive positive change. Visit our website to learn more about our services or get in touch to discuss your specific needs. Join us in bridging the sustainability reporting gap for SMEs.

Sustainability Program With The Forrester Sustainability Maturity Model New Model for Measuring AS-IS Status of Level of Implementation of Sustainability-Related Practices https://lnkd.in/gPqTuMAq

  Check out our latest blog about sustainability reporting and let us know what you think - is the balance right with the current levels of reporting?   With a focus on continuous improvement, organisations can turn the challenges of sustainability reporting into opportunities for sustainable growth, but are current levels of reporting overwhelming? https://lnkd.in/gwHnw5FY 

Check out our latest blog about sustainability reporting and let us know what you think - is the balance right with the current levels of reporting?  With a focus on continuous improvement, organisations can turn the challenges of sustainability reporting into opportunities for sustainable growth, but are current levels of reporting overwhelming? https://lnkd.in/gwHnw5FY