#greeneconomy

  • By Giovanna Matrone and Simone Bambagioni, Tondo associates English Every day organizations take decisions with a direct impact on their internal and external stakeholders. In order to build trust and make stakeholders understand the organization’s true value, risks and opportunities linked to these decisions need to be transparently communicated. A key enabler to realize this process is the sustainability report. A corporate sustainability report is a periodical report released by companies with the goal of making public their commitments – as well as their actions – in social and environmental areas. Although it isn’t (yet) mandatory, an increased interest of public opinion on these areas pushes companies to disclose non-financial information about how they operate and run their social and environmental challenges. So, it becomes mandatory for organizations to give insights about how they’re taking care of environmental (CO2 production, raw material use, energy management) and social (Diversity Equity and Inclusion, respect for human rights) concerns. Being a not-mandatory self-initiative, there is not a regulatory standard to refer to. Therefore, to make this reporting as useful as possible for companies as well as for stakeholders, a unified – widely recognized – standard is required allowing reports to be quickly assessed, fairly judged, and simply compared. Since international companies have started developing sustainability reports, the most used framework is the Global Reporting Initiative (GRI). However, while some (medium-large) organizations choose to write a standardized report useful for specific certifications, others opt instead for a free-style report. Either way, some items are often included: a CEO statement briefly introducing the vision and the drivers behind the sustainability report; a presentation of the organization’s governance structure and business model; a SWOT analysis for opportunities and threats linked to company’s business; a materiality analysis in which the main worries of the organization and stakeholders...
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