For organizations and companies, sustainability reporting gives significant data on economic, environmental, social, and governance performance. As more entities are applying sustainability to their activities, standardized reporting may become a necessity.
The GRI Reporting article explains how sustainability reporting has expanded to cities, states, universities, airports, and marine ports.
Mike Wallace, the director of Global Reporting Initiative at Focal Point USA asks, “If we agree to the concept of sustainability as one that’s bounded by the limits of the plant, don’t we need to be thinking about the sustainability performance of all institutions and organizations? Shouldn’t we be measuring, managing, and reporting in a standardized manner on the most material issues as defined by society, not just shareholders?”
Sustainability reporting is working its way through supply chains, whether it’s a public or private company. Many parts of the global economy are increasingly measuring, managing, and reporting their sustainability performance. Is your company ready to jump into sustainability reporting?