The Global Reporting Initiative, the organization that has established the most recognized and utilized corporate sustainability reporting standards, is guided by this simple mission statement:
“A sustainable global economy should combine long-term profitability with ethical behavior, social justice and environmental care.”
We believe that essentially all good companies have operated with these same beliefs for decades. A commitment to sustainability reporting helps organizations integrate these positive practices into their ongoing operations. In fact, a report by the Governance & Accountability Institute found that companies issuing sustainability reports outperform those that don’t. Recognizing this connection, professional managers of almost $4 trillion in assets now incorporate environmental, social and governance concerns in their investment selections and management.
Sustainability reporting is still voluntary in the United States, but there are many push and pull factors encouraging companies to join the thousands of organizations already reporting annually.
Push factors include:
- Investor expectations
- Stock market requirements on many exchanges globally
- Community and consumer demands
- Employee priorities
- General public and political pressure
Pull factors include:
- Operational efficiencies realized with a focus on sustainable practices
- The opportunity to receive attention and credit for initiatives already in practice
- A chance to control your own destiny before reporting is mandated
- A platform for positive employee engagement and pride
- The availability of workable, consistent reporting frameworks
So we believe the time is now to incorporate sustainability reporting into your corporate culture. You will be controlling your own destiny and strengthening your organization.