Whether you’ve decided to start with sustainability reporting because your company is required to, or because you simply want to share your sustainability story, a good first step is to make sure you understand the regulations that apply to your company, and how they are currently being addressed.
First things first – is your organization already reporting on its sustainability practices? More and more companies are engaging in sustainability reporting, as this study from KPMG demonstrates, for all kinds of reasons. For some it’s now legally mandatory. In Belgium, for example, large enterprises employing more than 500 people are now legally obliged to report on their social and environmental impact. This is in line with EU Directive 2014/95/EU, which stipulates that large companies in member states must now disclose information on their sustainability and diversity practices, effective for financial years beginning on or after January 1, 2017.
If a tree falls in the forest, and there’s nobody there to hear it – does it make a sound? It’s the same for your organization’s sustainability practices. If you’re not actively promoting your sustainability initiatives, you’re missing a key opportunity to strengthen your company’s reputation and perception in the public eye, as well as your corporate valuation.