INGENIEUR
INGENIEUR
Numerous ESG reporting options are available to companies
6 . Choose the reporting standards and frameworks to use . Numerous ESG reporting options are available to companies . Many businesses use more than one to meet different reporting and disclosure requirements . Choosing the right framework or combination of them is a key part of developing a successful ESG strategy .
7 . Collect , analyse and report on ESG data . Once the ESG programme is operational , processes are needed to collect and analyse data on the relevant KPIs and then to prepare reports for stakeholders . Full reports typically are done on an annual basis , but internal progress updates for the board and senior management are more frequent .
8 . Review and revise the strategy as needed . ESG requirements can change as business needs , stakeholder concerns and regulatory mandates evolve . An ESG strategy should be reassessed regularly to make sure it ' s still effective and to identify required updates -- including weak spots that need to be optimised .
Strive to be Transparent in ESG Reporting
GEM as an independent research initiative dedicated to investigating ESG transparency has identified six dimensions that make up a transparent report :
● Balance : The extent to which the reporting mentions positive and negative aspects , as well as risks and opportunities .
● Comparability : Assess if the reporting was aligned with frameworks and standards such as the Global Reporting Initiative , as well as provision of metrics , formulas and comparisons .
● Accuracy : Information on indicators , topics ( qualitative ) and delivering concrete information and methodology .
● Timeliness : Information on concretely set time horizons and a clearly stated reporting period .
● Reliability : The extent to which the reporting is externally audited ; clear responsibilities or accountabilities and monitoring are defined .
● Relevance : The report being material according to stakeholders ’ needs and delivering ESG context , with a glossary .
GEM commented that those that deeply engage with ESG issues and pursue sustainable development can benefit in the long term – a better reputation , higher customer loyalty , increased employee engagement and reduced risk of negative impacts on the environment and society .
REFERENCE UNDP , TechTarget , Perspective Strategies , STAR
62 VOL 97 JANUARY - MARCH 2024