- Globally we face a unique challenge in the shape of Climate Change
- Companies operating all over the world are now being asked to acknowledge and mitigate the impact they have on the environments and societies they operate in to support reducing the impact of Climate Change.
- By 2023 it will be mandatory for companies operating in the EU employing between 250 – 500 employees to disclose or report on their entire business through a sustainability lens against agreed EU sustainability reporting standards. This will require these companies to produce an annual sustainability report.
- VisionGreen have developed a Sustainability Reporting Software certified by the Global Reporting Initiative (GRI) reporting standards.
- The GRI have partnered with the EU in developing the mandatory reporting standards which will be used from 2023 onwards.
- The Sustainability Reporting Process can be complex and VisionGreen aim to reduce complexity within this process through a combined consultative and software approach to support companies on their Sustainability reporting Journey.
- Annual reporting can provide not only regulatory compliance but many other tangible benefits for businesses
- Opportunity to attain a baseline assessment of the environmental impact a business is having through reporting on emission & waste metrics
- The above can support putting plans in place to reduce impact
- Great opportunity to disclose any positive impact a company is having such as renewable energy generation or C02 sequestration
- Companies with a good corporate and socially responsible brand / image have better opportunity of attracting and maintaining talent.
- Millennials will make up 75% of the workforce by 2025 and 64% of these are demanding a strong CSR policy from companies when looking for new roles(Cone communications millennial employee study)
- Sustainability reporting can improve the overall risk management process of a business
- Potential to streamline the decision making process within business units
- Opportunity to identify areas where savings can be made i.e. waste & energy management
- Clear and transparent structure for business can be attained
Shareholders & Investment
- Companies who produce annual sustainability reports have the potential to increase the value of the business or attract investment.
- $40 trillion dollars of investment globally is from ESG (Environmental, Social Governance) Funds. Sustainability and ESG metrics form the basis of these funds’ decision making process on investment.
- Reporting also gives confidence to shareholders and customers alike