The Importance and Impact of Sustainability Reporting
08.06.2016 SUSTAINABILITY 0.0 0


Sustainability has been on the agenda of many companies and professionals for some time now. However, this is a relatively new concept and therefore, many people have different ideologies about sustainability meaning. In order to completely understand the concept, we must look at the root work - to sustain. The dictionary definition says, 'a method of harvesting or using a resource so that the resource is not depleted or permanently damaged.'


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Understanding Sustainability

It is extremely important to understand the right sustainability meaning if we are going to make any progress in this area. In order to begin, it is wise to start with the most comprehensive and crucial world - environment. This covers various topics like green living, sustainability, pollution and conservation. In order to understand sustainability in the best possible way, one can frame it as the management of our resources. Many of our resources are limited and if we continue to exploit them the way we are currently doing it, we might not have these resources in the future. Therefore, in order to give our next generations a bright and lively future, we have to understand the importance of sustainability and practice it on an everyday basis.




Sustainability Reporting

This is a great method to showcase the work done by organisations, corporations and business houses under a public domain. This includes their processes regarding environment, social work, governance and economic performance. Many companies that indulge in reporting are seen as socially responsible companies and this gives them the edge over competitors as well. The idea behind this concept is to give a chance to a company or a corporation to showcase in quantified metrics the value they have generated over a certain period of time. The standard of this reporting is called the GRI or
Global Reporting Initiative.


Working Towards a Better Environment

For most organisations across India, environment and ecology are the driving factors for all their sustainability initiatives. The framework of sustainability reporting was developed with an objective to ensure that large businesses can quantify their efforts taken to combat the carbon emissions that their businesses are causing. Many companies are now participating proactively to provide sustainability for our ecology by taking small steps within the company itself. Some companies are also scaling their activities as per international guidelines.


Benefits of Effective Sustainable Reporting

  • It is a measurable way to understand the damage and the efforts taken to minimise the damage caused by a particular business
  • It helps to find answers to questions like why there is over use of water in particular factories, what has caused the collapse of a supermarket chain in its environment, etc.
  • It is a powerful indicator for companies who are involved in long-term governance and socio-economic initiatives
  • It creates a sense of transparency from the business, creating a feeling of trust-worthy behaviour
  • It is a powerful motivator when the company is moving towards development or participating in other initiatives

This is the most effective way to get an insight into the various measures taken by a company to participate in sustainability. It is a great tool for knowledge sharing and analytics about sustainability that can truly help the environment in the long run.

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by Kalpesh Kumar

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