Over the last few years, ESG sustainability reporting has become the new trend and it is a good thing. As more companies join the fray, reporting their impacts on sustainability, it is prudent to plan well. Where your brand started in 2021 is different from where it will be in the next five years. Just like you draw long-term strategic plans, ESG sustainability reporting should also be strategized well to achieve better results. So, how do you go about it?
If you have just reported the first phase, how do you go about the next? This is the time to build on the experience of the first reporting phase. Keep reading as we highlight some useful tips to help you plan for ESG reporting.
Build on Previous ESG Sustainability Reports
One of the important principles of ESG reporting is continuity. The principle is aimed at helping companies ensure that the strategies they adopt are coherent and the benefits they achieve are not lost along the way. Therefore, your reporting topics for the precious phase can be extended to deliver better results.
If you selected reporting topics such as cutting down emissions and the first phase involved training staff, now might be the best time to rethink the production line. You might want to consider machine maintenance, installing new machinery, or shifting to green energy. Remember to carefully assess the requirements of the strategy that you select and capture the data correctly. The details should also include any negative implications, such as costs or the need to source more expensive raw materials.
Build Partnerships with Other Sustainable Brands
The journey to building a sustainable planet cannot be successful if you approach it alone. However, you can have a greater impact by partnering with sustainable brands. Take the example of a tour and travel company. To encourage others to also join the process of ESG sustainability reporting, the company might want to partner with manufacturers of vehicles that are more sustainable.
Your partnership should be extended to the legal fraternity as you encourage the development of legal frameworks to encourage more parties to get involved. You can do this through direct support to policy development institutions or international bodies that deal with conservation. Remember that as more companies adopt sustainability, the playing field will become level to ensure that none of them gets an undue advantage over the brands using the best practices.
Work Directly with Communities Dealing with Conservation
If you have improved the efficiency of your production system, reduced emissions as expected, and now working with happy employees, it might be time to make a direct impact on the environment and society. You can do this by identifying organizations that deal with conservation and supporting their initiatives. Here are some good initiatives to consider:
- Forest restoration in degraded ecosystems in the tropics.
- Cleaning of damaged aquatic ecosystems.
- Support for programs that help with species diversity enhancement.
- Promoting efforts by urban management to address waste management.
Remember that the efforts you make directly to society or supporting nature should be correctly documented and impacted and quantified accurately. For example, how much forest cover did your ESG sustainability effort achieve? What quantity of carbon did the forest cover restored help to achieve?
ESG sustainability reporting is an excellent way to redefine the operations of a company. The good thing is that it comes with impressive benefits for your company, the community, and the entire planet. Using the tips we have highlighted above, you are assured of making a bigger impact on society. To capture the data accurately, follow the process of ESG sustainability reporting correctly, create reports that will impress stakeholders, make sure to work with the best ESG reporting software. Visit Diginex.com for the best program for your company.