Sustainability Reporting
Regulatory frameworks and reporting requirements are rapidly evolving, with companies being scoped in to provide information about their environmental impact and sustainability goals. Corporate Sustainability, also widely referred to as Environmental Social and Governance (ESG), is now an integral part of business and has until recently been shaped mainly by industry self-regulation and voluntary reporting.
In 2023, the International Sustainability Standards Board issued the global sustainability disclosure standards with the aim of creating a global baseline and common standard for sustainability-related disclosures in capital markets worldwide. As a result, jurisdictions are developing frameworks aligned with global standards, and companies will be expected to present integrated reporting that meets mandated requirements, as well as investor and stakeholder expectations.
Recent years have seen increased mandatory integration of ESG-related information into mainstream financial reporting. The European Corporate Sustainability Reporting Directive (CSRD) and the UK Sustainability Disclosure Standards (UK SDS) mandate that organisations report risks and opportunities relating to sustainability matters alongside their financial disclosures, including their climate and social impact.
More than just compliance, reporting on sustainability performance represents an opportunity for organisations to materialise their sustainability strategy, mitigate risks, and improve their operational performance. Sustainability reporting is a tool for companies to unlock long-term value and demonstrate accuracy and foresight in communicating their sustainability efforts to different stakeholders and investors.
How is the UN Global Compact Network UK helping companies prepare for upcoming reporting requirements?
Sustainability Reporting Webinar Series 2024
The UN Global Compact Network UK hosted the Sustainability Reporting Webinar Series throughout June-July 2024 to unpack the current sustainability reporting landscape for UK companies and provide practical guidance on how businesses should prepare. Aimed at sustainability and finance professionals leading non-financial disclosures, this series highlighted concrete actions companies can take to plan, execute, and communicate their sustainability reports.
Sustainability Reporting Working Group
The UN Global Compact Network UK’s Sustainability Reporting group aims to support member companies on their journey to producing accurate, compliant, and decision-useful sustainability reporting. The Sustainability Reporting Working Group brings together key UK companies to develop best practices, engage in collaborative learning with experts and peers, and overcome challenges related to mandatory and voluntary reporting requirements.
Sustainability Reporting Briefing
In partnership with Richard Howitt, former Chief Executive Officer of the International Integrated Reporting Council, the UN Global Compact Network UK developed a report to help companies take practical steps to prepare for upcoming regulatory changes. It aims to demystify some of the concepts around reporting frameworks and upcoming regulation as well as help companies to engage with their value chain and realise strategic gains through their sustainability reporting.
DOWNLOAD THE REPORT HERE:
For more information, please contact Billie Armstrong, Project Manager, Sustainable Finance and Reporting.
