WHAT IS THE VALUE OF SUSTAINABILITY REPORTING?
There is a lot of evidence that social responsibility is developing and evolving. This is evident from the problems that concerns those who are doing the field’s present study. The idea of CSR has steadily expanded to different areas of study, to the point where we can now discuss the incorporation of social responsibility into every sort of human activity (business, politics, justice, etc.).
As businesses and companies are exposed to sustainability-related issues, the demand for reporting from various stakeholders is significantly growing.
A business can better understand and control its effects on people and the environment through reporting. It may recognize and mitigate risks, take advantage of new possibilities, and take steps to establish itself as a trustworthy organization in a more sustainable society. Thus, Sustainability reporting brings value both for internal and external stakeholders.
Benefits for internal stakeholders:
Benefits for external stakeholders:
Sustainability reporting may become more closely tied to corporate governance and fundamental company operations due to a new phenomena called integrated reporting. However, aspects about sustainability were frequently still disclosed separately from other business and financial reporting information, even if CSR reporting and financial reports were combined into a single published report.