More than two-thirds of the Fortune Global 500 companies publish some form of sustainability or corporate responsibility report, according to research by Ernst & Young US (E&Y).
E&Y said that while more companies are reporting on sustainability and corporate governance issues, management still needs to take greater interest in how the reports can be used to identify opportunities and risks.
The firm has come up with seven questions it believes management teams should ask to understand how sustainability reporting impacts upon their organisations. These are:
- Who issues sustainability reports?
- Why report on sustainability if you don’t have to?
- What information should a sustainability report contain?
- What governance, systems and processes are needed to report on sustainability?
- Do sustainability reports have to be audited?
- What are the challenges and risks of reporting?
- How can companies get the most value out of sustainability reporting?