Sustainability reporting has no set format, but broadly involves disclosure of a company’s environmental, social, and governance (ESG) goals and communicating the company’s progress and efforts to reach those goals. Along with ESG initiatives, sustainability reporting includes financial elements. To provide complete transparency in communicating the progress and efforts in sustainability, the reporting format could include photographs, numbers, charts, infographics, etc.
The primary objective of sustainability reporting is to drive concrete actions toward efforts. Sustainability reporting helps companies communicate both positive and negative impacts of their actions on the environment, society as well as economy, and accordingly set priorities.
In the long term, sustainability reporting helps companies assess risks and opportunities and helps them drive green operations, align with CSR goals and increase cost saving opportunities.
Continue to read more about supply chain sustainability.