Sustainability Reporting: Outcomes And Implementat Essay

3842 WordsMar 11, 201216 Pages
Introduction The practice of sustainability reporting continues to be a fascinating field of study as it evolves and becomes an increasingly important component of external reporting. Due to its voluntary nature, sustainability reports come in various forms and contain a vast array of different sustainability information. With nearly 80% of the largest two hundred and fifty international companies releasing some form of sustainability report , this practice will no doubt continue to be an interesting topic of discussion for decades to come. In order to understand the practice of sustainability reporting, the importance of sustainability among the public must first be understood. Awareness of the sustainably issue among company stakeholders is a critical component to the history of sustainability reporting, which will be outlined next. The evolution and maturation of voluntary sustainability reporting which took place throughout the 21st century would not have been possible if the practice didn’t provide tangible benefits to the company itself. The benefits sustainability reporting provides will be discussed next, as they are major factors influencing the increasing number of companies which issue voluntary reports. While sustainability reporting metrics continue to be voluntary in most national jurisdictions, the sustainability reporting guidelines backed by Danish non for profit organization known as the Global Reporting Initiative are a milestone in the movement towards standardized and mandatory disclosure. The specific implementation of these guidelines will be reviewed next. This section will be followed by a description of Integrated Reporting and how it is influencing the type of sustainability reports being released. While the benefits of sustainability reporting remain important, the practice also presents various challenges. An analysis of these

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