Six growing trends in corporate sustainability
Six action steps
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- Actively pursue a sustainability and reporting system that exemplifies a similar transparency and rigor as the system used for financial reporting.
- Engage CFOs in sustainability efforts, such as choosing appropriate tools to measure, monitor and report on environmental and sustainability issues in a way that can measure progress, create value and enhance investor confidence. Additionally, encourage them to embed the sustainability strategy into the core strategy of the business.
- Recognize that employees are a key stakeholder and a vital source of sustainability engagement and ideas to enhance the company’s sustainability journey. Employee involvement is needed to embed sustainability into the corporate culture.
- Understand that greenhouse gas disclosure has value outside of the regulatory arena due to its utility for stakeholders, investors, customers and suppliers. Independent verification of GHG emissions is important, not only for accuracy, but also for its usefulness by both internal and external stakeholders.
- Assess the availability and reliability of strategic business materials and resources from a sustainability perspective. Develop a risk management plan addressing contingencies for disruptions in access to key resources, and integrate risk assessments and plans in sustainability reporting.
- Understand the value of sustainability reporting to ranking and ratings organizations, particularly those of interest to investors. Consider third-party assurance to enhance the value of such reporting by shareholders and others.