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Overview of what sustainability reporting is, top standards, and benefits of reporting
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Sustainability Reporting
DO I HAVE TO ??
Jennifer H. ElderCPA, CMA, CIA, CFF
The Sustainable CFOjelder@sustainablecfo.com
WHAT IS SUSTAINABILITY?
DEFINITIONS OF SUSTAINABILITY
DO YOU HAVE TO REPORT ???
DO YOU HAVE TO ???
DO YOU HAVE TO ???
32.1%
Shai Agassi, CEO, Better Place
No one ever catches the back of the wave and reaches shore. You’ve got to start paddling before the wave comes in….
Being ahead of the curve always leads to profits.
BE AHEAD OF THE CURVE!IT’S GOOD FOR BUSINESS!
BE AHEAD OF THE CURVE!
OR BE LATE!
WHAT DO WE REPORT NOW?
WHAT IS SUSTAINABILITY REPORTING?
WHAT IS SUSTAINABILITY REPORTING?
Names Uses Forms Content Standards
DIFFERENT NAMES
Environmental Impact Health & Safety Community Affairs Corporate Citizenship Corporate Social
Responsibility (CSR)Environmental, Social,
Governance (ESG)
DIFFERENT USES
Public relations Communication Improvement
DIFFERENT FORMS
Separate report Attachment to annual
report Combined report Statement Online report
DIFFERENT CONTENT
Environmental impacts Safety Community service Supply chain Policy Results
DIFFERENT STANDARDS
G -3 Protocol UN Global Compact ISO 26000 Account Ability AA1000 Connected Reporting
Framework Sarbannes Oxley
DIFFERENT BUT SIMILAR
Communication Connects company to
world Address issues around risk Process for measuring,
disclosing, and being held accountable
NIKE
NIKE
NIKE
TOYOTA
TOYOTA
TOYOTA
TOYOTA
WALMART
HISTORY
1953 – Social Resp. of Businessmen1989 – Ben & Jerry’s S/H Report1995 – AccountAbility1997 – Global Reporting Initiative2000 – UN Global Compact2002 – Sarbannes-Oxley2004 – ISO 140002005 – Accounting for Sustainability2010 – ISO 26000
WHY REPORT?
Governmental regulation NGO advocacy Consumer concerns Channel requirements Investor Requirements
External Pressures !!!
WHY REPORT - MANDATES !
WHY REPORT - UPSIDE!
Identify & minimize legal & business risk
Improve trust/credibility with stakeholders
Enhance reputation and brand Increase customer loyalty
WHY REPORT - UPSIDE!
Increase market share Gain competitive advantage Increase innovation Improve employee
recruitment and retention
MAJOR STANDARDS
UN GLOBAL COMPACT
2000 - 18 members 2010 - 8,000+ Ten Principles:Human RightsLaborEnvironmentAnti-Corruption
AccountAbility AA1000
1995 – DC/NY/London/Bejing 1999 – AA1000 Standards Principles Standard covers:InclusivityMaterialityResponsiveness
Assurance standard
GLOBAL REPORTING INITIATIVE
2000 G-1 Standard, 2006 G-3 80 Indicators
EconomicsLabor PracticesHuman RightsSocietyProduct Responsibility
Assurance
8 STEP PROCESS
1. Do your homework2. Develop strategy3. Establish goals4. Create metrics5. Engage stakeholders6. Collect data7. Evaluate results8. Write the report
WHERE DO YOU BEGIN?
IT’S AN ONGOING PROCESS
BE AHEAD OF THE CURVE!
OR BE LATE!
Jennifer H. ElderCPA, CMA, CIA, CFF
The Sustainable CFOThe GPS for your business!
Consulting-On Demand CFO ServicesBusiness Coaching-Training
www.sustainablecfo.com
410.231.1881 jelder@sustainablecfo.com
SustainableCFO
RESOURCES GRI
www.globalreporting.org AccountAbility
www.accountability.org UN Global Compact
www.globalreporting.org Sustainable Business Institute
www.sustainablebusiness.org
HOW TO READ A REPORT
CEO StatementSummary key factsVoice of stakeholdersIssues
WHAT TO LOOK FOR IN A REPORT ?
TimeframeSubjects coveredStandards usedKPI’S
WHAT TO LOOK FOR IN A REPORT ?
Trends Interactivity Consistency with prior
reports Verification
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