The planet is looking to you to help address the challenges, such as global warming, that are facing it. At the current global warming rate, the world is headed towards a major disaster, and the effects are already being felt. Rapid thawing of polar ice, loss of habitat for wildlife, rising coastal water levels, and violent tropical weather are only a few of what we are facing today. As a corporate entity, your company has a bigger role in addressing these challenges, and the best approach is to use ESG sustainability reporting with advanced frameworks, such as SASB standards.
If ESG sustainability reporting can help address major challenges facing the globe, is there a way of making more impact? Keep reading to learn more about ESG sustainability reporting optimization. We will also tell you why you should work with Diginex.com to get the best ESG reporting software.
Use SASB Standards for More Insights from Your Report
The idea of ESG sustainability reporting is aimed at creating a report for stakeholders, telling them about the company’s efforts and impacts. To optimize the benefits, you need to look beyond winning the affection of stakeholders. SASB, short form for Sustainability Accounting Standards Board, was created to help companies develop standards on different topics for facilitating communication on sustainability between companies and investors. Using SASB standards, it becomes easy to prepare reports that do not just talk to stakeholders, but that will help improve the company’s system.
If your company targets to cut emissions, stakeholders will be impressed by, say, 50% GHG reduction. However, the impact will be more if you can move to a negative carbon footprint. Remember that if you can remove more emissions than you are releasing, the excess amount that you clear from the atmosphere can be sold in the carbon credit market.
Put Your Staff at the Front Line in Advancing Sustainability
Sustainability is a journey, and you can achieve more by including everyone. Mainly, you should target bringing on board all employees in the sustainability reporting operation. This can help optimize sustainability in a number of ways:
- Your staff will carry the message of sustainability to the community, clients, and other stakeholders when away from the company.
- Training staff can help you to put more focus on sustainability activities. For example, your energy use reduction targets will easily be reached because staff will be there to switch off lamps when not in use and report damages in the production system.
Extend Your Sustainability Reporting to Other Parties on the Supply Chain
Think of it this way, your efforts on sustainability can only achieve so much when working alone. For example, your company’s focus on cutting down emissions can only clear several tons of greenhouse gasses (GHG) per year, but the quantity can be increased by a huge margin if you bring others into the reporting bracket. So, how do you make other parties adopt sustainability by using SASB standards?
- Review the supplier contracts and insist on only working with those committed to sustainability through the application of SASB standards.
- Define the nature of raw materials or products that your company can buy to include sustainable practices in the production.
- Provide support for the development of green supply chains. This means that even the suppliers from abroad will be motivated to adopt green production.
Work with a Sustainability Reporting App
Your sustainability journey will never bear results until the details are correctly reported. If you say that the company managed to cut emissions by 70%, is that information accurate? Can it be verified?
To make sure your ESG sustainability reporting is correct, make sure to identify and use the best app. The ESG reporting software allows you to capture data on sustainability impacts both internally and externally so that stakeholders can appreciate all the efforts. The software will also come in handy in simplifying the process of data gathering, analysis, and ESG report generation.
In this post, we have demonstrated that sustainability reporting might be the missing link in the fight against global warming and other challenges. So, do not hesitate to start or amplify sustainability reporting in your company. Make sure to use the SASB standards and best sustainability reporting software for greater accuracy, verifiability, and continuity. Visit Diginex today for some of the best reporting programs for your sustainability journey.