Sustainable development reporting plays an important role in production and business activities of enterprises. This is also one of the tools to help build a transparent, fair and sustainable business environment, ensuring accountability. Sustainable development reports will effectively contribute to the achievement of the 2030 sustainable development goals.
Sustainability reporting is a business practice of measuring, disclosing and being accountable to stakeholders for its activities towards sustainable development.
Firms develop and publish sustainability reports, evaluate and publish information about their business performance in environmental and social aspects, information on financial performance and capital management are information that are still disclosed according to practice. Sustainability reporting is a new way to build and quantify your business’s value.
Today, investors around the globe are increasingly interested in how sustainable operations management strategies can enhance business competitiveness and innovation. Governments are also working to provide opportunities and incentives for sustainable development.
Over the past 10 years, there have been thousands of Sustainability Reports published by businesses and organizations of all types, sizes and sectors, all over the globe. More and more businesses are deciding to publish their Sustainability Reports independently or in their annual financial reports and on their websites.
Sustainability reporting helps businesses and organizations disclose sustainability information in a similar way to financial reporting. Through transparent and accountable reporting, businesses strengthen the confidence of their stakeholders in their business and the economy.
The reporting process also promotes many improvements in production and business activities. At a grassroots level, Sustainability reporting is a tool that can improve an enterprise’s perception of new business risks and opportunities. From this perspective, Sustainability Reporting helps businesses prepare for new development trends, decentralizes responsibilities and improves management systems to gradually improve operational efficiency.