The term "sustainable development" was defined in 1987 by the World Commission on Environment and Development through the report "Our common future". The notion is that we should meet the needs of the present without compromising the ability of future generations to meet their needs. From this seed, expectations from stakeholders that businesses and organisations operate responsibly and contribute to sustainable development have increased and continue to grow.
Prove how you contribute
Businesses and organisations have put the sustainability thinking to work in various ways and in different areas: human rights, labour rights, governance, anti-corruption, social and environmental issues, their community, and social development.
However, it is no longer enough to operate responsibly. Social and environmental factors increasingly play a role in how a company is viewed. Stakeholders therefore demand greater transparency on non-financial issues that affect the reputation and consequently the standing and value of a company.
Meet stakeholders' demands
The term sustainability reporting is used to cover a broad range of formats in which companies report on their social, environmental, and economic performance. It is more commonly known as triple bottom line reporting.
By widening the reporting to cover social and environmental performance, a company is going a long way to meet the needs and demands of their stakeholders. Sustainability reporting satisfies the need for a more holistic approach to corporate reporting on performance. Improved reporting can also enhance internal management, as you expand the basis on which business decisions are made.
An independent verification of your sustainability reporting by a third party such as DNV can help lift the quality of your reporting processes and prove to stakeholders how you contribute and that what you say is what you do.
To what standard can I get my sustainability report verified?
To get on the road to verification, you should begin by reading about the DNV Verification Protocol of Sustainability Reporting.
