Sustainability Reporting has gained importance in the last few years and as there are new frameworks, policies, regulations and laws evolving, a solid reporting can help to drive the development of an organisation. Among the motivations for organisations for sustainability reporting, transparency, competitive advantage, risk management and stakeholder pressure have the highest range. New research shows that the most transparent organisations seem to have more economic success.
To perform a solid sustainability reporting there has been a shift for companies regarding the quantity and quality of data. There is an ever-evolving number of internal and external stakeholders to report to, with a need for more material and more specific data. To extract the relevant data from the irrelevant and not to get lost in this minefield of sheer numbers, is an increasing challenge for companies of all sizes and branches. A comprehensive report must provide a broad overview over the efforts and incentives a company has undergone to become more sustainable, transparent and thereby gaining more reputation and trust.
But with better access to data and a better integration into data pools the efforts to get the right data for its reporting is taking longer and longer. To not get lost in the data jungle, a solid strategy and well established targets are necessary. Once targets and strategies are set, the developed drivers and Key Performance Indicators KPIs have to be measured. Furthermore, data collection, sorting, consolidation are necessary tasks to get a solid reporting for all the involved stakeholders.