Corporate Sustainability Reporting: Capturing Benefits, Avoiding Pitfalls
Looking to satisfy the demands of a variety of stakeholders and to gain a competitive edge in the marketplace, businesses are increasingly issuing corporate sustainability reports describing their environmental and social stewardship initiatives. The surge of companies issuing sustainability information reflects a sea change in the manner in which corporate health is measured, reported and evaluated—no longer limited to traditional financial data, it now involves complex indicators of social and environmental impacts as well.
Moreover, these indicators are not uniform mandated regulatory standards, but arise from evolving practices and standards developing in numerous forums and markets around the globe and they can pose a host of new issues and challenges to companies seeking to position themselves through sustainability reporting. This article discusses the evolving trend and provides insights into navigating the rapidly changing landscape for those seeking to capture the benefits of corporate sustainability reporting while avoiding potential pitfalls.