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Sustainability Reporting is a framework that allows organizations, corporations and large business houses, to place under public domain their processes of governance, environmental, social and economic performance.
The core idea is to allow a company or corporation to represent in quantified metrics the value they have created over a period of time. The current standard for such reportage is the GRI or Global Reporting Initiative.
For most pan-country organizations in India, environment and ecology are two driving factors in their initiative.
Sustainability Reporting was a framework developed in the hope of questioning a corporation for quantifiable answers to hurting issues such as the carbon emissions that far exceed its budget. Despite commitment to several companies are unable to gain control on the quantity of carbon emission they cause and related issues.
Sustainable Environment creation is now an initiative that most of the Indian corporates are committed and are scaling their initiatives as per international guidelines.
Sustainability Reporting also allows answers to be found (in measurable metrics) to pressing questions such as – over use of natural water supplies by a factory; or the reasons for collapse of native supply-chain of a retailer or supermarket chain in its environment.
Sustainability Reporting as a Catalyst
To companies involved in long-term, good governance and socio-economic initiatives, Reporting has emerged as a ‘powerful indicator.’ Where the factors man-nature conflicts, rapid urbanization work at cross-purposes to Sustainable Environment, organizations find they can play discerning and responsible roles. At the same time they derive high levels of achievement and satisfaction when their Reporting clearly marks their achievement of high goals.
The wide-range of effective practices and knowledge an organization is able to create through its initiatives can be placed under public domain (through such reportage) and its organizational prowess as well as its commitment to deliver on the pillars of sustainable growth and development.
It is also viewed as a powerful process of the transparency within the organization; and acts a powerful motivator during the process of developing and conducting processes plus other initiatives.
Lessons for the past and the future of Sustainable Environment
Another aspect of Sustainability Reporting is that it not only provides a corporate statistics about its initiatives but provides vital information for non-profit or non-governmental organizations associated with such initiatives. It provides deeper insight into the metrics that influence end Sustainable Environment results as well as works as a great tool for knowledge sharing and analytics.
Source: EzineArticles.com wrote by S Kirti Saxena