Sustainability is the word that could easily reflect the ethos, mood and preoccupations of the majority of earths population in the recent years.
If we shift our focus on the corporate world, we can see that the word sustainability has gained a lasting potential and a special significance within a company’s culture.
But what does it mean for a company to be “sustainable”?
Corporate executives are stiving to meet requirements to have their businesses qualify as sustainable and to be noticed by investors on the EU and international market. In order to be successful, they need to have an excellent command of SRTs (Sustainability Reporting Tools).
These include the following:
Standards for Comprehensive Sustainability Reporting
- GRI (Global Reporting Initiative)
- SASB (Sustainability Accounting Standards Board)
- IIRF (International Integrated Reporting Framework)
- ISO 26000
- TCFD (Task Force on Climate-related Financial Disclosures)
Standards for Climate Risk and Emissions Reporting
Alongside the above mentioned, there are various others such as:
- International Standards of Accounting and Reporting (ISAR)
- British Standard on Sustainability Management (BS 8900)
- The United Nations Global Compact (UNGC)
- OECD Guidelines for Multinational Enterprises
- ILO Tripartite Declaration of Principles Concerning Multinational Enterprises and Social Policy
Last but not least, they need to be acquainted with regulations and directives issued by state bodies and governments. For example, the European Union has issued regulations like the EU Taxonomy, European Union NonFinancial Reporting Directive (NFRD) and the Sustainable Finance Disclosure Regulation (SFDR).
Undoubtedly, all these acronyms can be overwelming and even experienced professionals might feel lost and confused, not knowing where to start. This doesn’t have to be the case.
On part II of this article we give useful tips on how to prioritize, evaluate and select the best SRTs for your company.
With our European team and global expertise, we help companies maintain an edge in reaching global sustainability goals and understanding evolving international laws.
During the upcoming C-suite ESG training, attendees will learn how to apply corporate sustainability ESG strategy and maximize the use of reporting tools in order to facilitate meeting US, EU and other global legislation.
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Location: Digital Date: October 27, 28 & 31
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