Sustainability doesn’t mean sacrificing profits or putting success on the backburner. Instead, it has become a crucial element in any organisation’s success strategy. An organisation that doesn’t factor in sustainability risks being less successful in a number of measures, including profitability, impact, growth, and employee retention. Organisations that work toward building the necessary systems and processes for actions, assessment, measuring and reporting not just on behaviours, but also impact, will be best placed for success and growth.
Whether it’s for the greater good, or because the nature of business and the market is changing as the demand for sustainable products, goods and services increases – sustainability matters, and in time, it will matter even more. Soon all organisations won’t be able to afford to NOT effectively integrate strategies, systems and mechanisms for measuring impact.
FREE SUSTAINABILITY TRAINING
Our mission is to support organisations to develop strategies that are actionable and sustainability practices that are accessible, achievable and maintainable. Our FREE TRAINING helps you to get you started on your sustainability journey and is designed to provide an overview of sustainability requirements, and will give you the resources you need to determine a baseline for an organisation to work from.
At the end of the training you will better understand:
- Sustainability and sustainability practices
- Why sustainability insights and expertise is necessary as a matter of good practice
- Why these matter to organisations
- The difference between reporting behaviour and measuring impact
- The importance of integrating mechanisms for measurement, assessment, reporting and verification
- The importance of actionable systems, policies and procedures
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The context
Reporting on key environmental, social and governance (ESG) practices, and delivery on SDGs is key as interest in sustainable investment alternatives grows. ESG is about the risks and opportunities which could impact a company’s ability to create long-term value, and there is a movement toward and increasing demand for reporting not just on behaviours, but also on impact by governments and financial institutions.
There is also an increase in pressure from governments to encourage trade that takes into account ESG practices. Institutional investors, asset managers, financial institutions and other stakeholders are increasingly relying on these reports and ratings to assess and measure company ESG performance over time and as compared to peers. This assessment and measurement often forms the basis of informal and shareholder proposal-related investor engagement with companies on ESG matters, with an increasing move toward responsible finance.
While ESG reporting is more mandated than SDG reporting, the public is also aligning their choices and decisions with organisations that better demonstrate their impact and how they contribute to these goals and there is a growing community of more conscious consumers who are holding governments and organisations to account, who show a preference for supporting companies that are environmentally and socially responsible.
The major challenge for most organisations is that they have no idea where to start with reporting or measuring impact. There are numerous frameworks that can be used to measure and report, there is no single standard, and each framework has different indicators. Just 10 of the main frameworks have around 735 KPIs as well as different indicators within categories (environmental, social and governance), appearing at different frequencies. Report and ratings methodology, scope and coverage, vary greatly and can often be an obstacle to organisations developing sustainability strategies, and implementing plans for measuring activity and impact.
Despite often being engaged in activity which could be leveraged in ESG and other SDG reporting, there are also limitations in being able to access appropriate training, policies, resources, and expertise to set up the systems required to integrate assessments, impact measurement and reporting into normal day-to-day operations in a way that is manageable and maintainable. We aim to help!!
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