Corporate Knights’ Post

I consult in sustainability (related to forest investment) and I agree with this. #Sustainability cannot be entirely outsourced. In fact, I would argue that the more heavily you integrate sustainability within your investment organization (including at investment committee, c-suite, and board level representation), the more resilient and successful your organization will be. Box-ticking #ESG reporting exercises are not only a #greenwashing risk, but can sweep important issues under the rug that will re-surface later, damaging more than credibility.

This article is important. In my experience data can be hard to obtain and hard to access; however it is the most critical part of ESG disclosures. Marketers and marketing folks have flooded the work with slogans, messages and sound bites. “companies and consultants need to return to the underlying principle of sustainability reporting: it’s not just about producing marketing material. Faced with a very real global crisis, it’s a key way to measure the impacts, risks and challenges of doing business, and present a company’s action plan to address them.” Data can be a good antidote to spin. We need more and better data. Green Analytics #data #esg #greenwashing

Having also undertaken sustainability reporting in Asia region and now in the USA, this article hits home on some of the challenging issues that independent consultants face with their brief. The good news is they can be worked through and around with a strong dose of know how, a bit of soft negotiations and the consultant's ability to grasp and prioritise the material issues. Reporting in NOT a generic exercise. https://lnkd.in/ge_E7bWU

Conducting sustainability reporting processes with external consultants may not yield the desired results. Although reports prepared by external consultants with an understanding that prioritizes satisfying the expectations of their clients within the specified timeframe instead of revealing the real sustainability/climate-related risks and opportunities based on analysis with accurate data may seem to meet the needs in the short term, they will not be beneficial in terms of both social benefit and the adaptability of the company in the medium and long term.

The Future of Sustainability Reporting It is again wonderful to be flying the GRI flag at the UN. Not because sustainability reporting is important in itself but sustainable development is. Information, at least in the corporate reporting context, is only useful if it can promote accountability and result in decisions to take action. As the UN Secretary General has stated, key indicators on the SDGs are showing little change and in some cases some are going in reverse. It means that our belief that reporting will drive behavior needs to be joined with clear and scalable actions that result in improvements in well-being. Today I will participate in a day long workshop on capacity building to support the development of sustainability reporting. It begs the question what is 'sustainability reporting'? The late Professor Rob Gray commented it has little to do with sustainability - some would say a cynical view - and there have been huge improvements since in the quality of the reports Rob reviewed, but we still need more actions to follow stated commitments. We are in the dangerous space of 'sustainability reporting' becoming an empty signifier - pointing in so many directions that its meaning becomes diminished because it means something different to everyone. Let's be clear - sustainability reporting is about externalities and other impacts that report on the effects of business models on people and planet. There is only one comprehensive reporting framework that delivers on reporting on impacts: Global Reporting Initiative (GRI) standards. There are lots of brilliant reporting frameworks on aspects of sustainability and they are crucially important but a coherent global framework is what binds it all together. It is not a question of 'either' 'or' - we need organisations to report on financial performance + impacts. We can no longer justify just tell half of the story - the whole story is vital to investors and all stakeholders. Capital flows are important but so are the principles of equity and justice. Passing the problem from the Global North to the Global South and as my friend Philippe JOUBERT would say is "economically stupid". Business models need to solve for both an adequate return to providers of capital and progress towards sustainable development. Indira Gandhi's admonition in 1972 "aren't poverty and need the greatest polluters" continues to haunt us but we have the global infrastructure to fix it!

Decarbonise operations and sustainability reporting will play an increasing important role for local SMEs.

Seven out of 10 (70%) sustainability leaders believe that the time and cost spent on reporting admin has driven decarbonisation delay as resource constraints are hampering action on sustainability goals. Over half (55%) of sustainability leaders surveyed agreed that sustainability reporting requires too much admin and over a third are considering outsourcing their reporting as they think is “a waste of time”. Almost half (46 per cent) felt that their organisation spends too much time on reporting and a similar number (45 per cent) also said that too much money is spent on it.

The rising tide of sustainability reporting: navigating the new era of corporate transparency: Explore the evolving landscape of sustainability reporting. Learn how to navigate regulatory changes, ensure data quality, and drive meaningful ...

Came across an interesting article about the growth of the sustainability consultancy sector. According to Source Global Research, spending on sustainability advice had in 2023 a slight dip from the 9.8% growth seen in 2022. And is predicted to continue decreasing in 2024. Source Global mentions: “We’re now entering the difficult stage of sustainability, which is about managing business change and really pushing it through companies.” Wondering how businesses will adapt their sustainability efforts in light of the current economic challenges… #Sustainability #GreenBusiness

Corporate Sustainability Reporting emerges as a crucial tool in holding corporations accountable and fostering tangible progress towards sustainability goals. But, the voluntary nature of reporting for most corporations poses challenges.