Sustainability is practice of meeting current needs without compromising needs of the future generations and it is restorative of natural and other assets.
Sustainability Reporting is the practice of measuring and publicly disclosing an organization’s key social, economic and environmental performance, and being accountable to internal and external stakeholders. It is a public report on non-financial performance of the company.
Today every growing organization, public or private, government agency, an academic institution or NGOs, are choosing to report on Sustainability
or Corporate Social Responsibility (CSR)
is an increasingly vital factor in presenting social, environmental and economic credentials to the wider community. This helps to establish how reporting organization adhering to ‘triple bottom line
’ of environmental, social and economic performance.
The growing demand for credible non-financial information - Sustainability Reporting, is receiving attention by analysts, investors, consumers, business partners, community and even employees.
Why Sustainability Reporting:
a valuable tool for communicating with wide range of stakeholders on sustainability performance;
sustainability reports helps to accomplish goals related to cost reduction, improving efficiency & achieving other business imperatives
helps companies establish a reputation for transparency and build stakeholder trust
: Compliance benefits: Complying with SEBI’s BRR (Business Responsibility Reporting) and other voluntary requirements. CSR reporting required as per Clause 135 of The Indian Companies Act 2013.
Sustainability Reporting Assurance
Businesses, due to the increased attention from Stakeholders, are required to be concerned about the accuracy and integrity of sustainability information and data which is reported to stakeholders or used for strategic decision making – hence the assurance of sustainability reporting is necessitated.
A credible Sustainability Reporting is one of the most powerful means for companies that follow sustainability protocols to win the sceptical stakeholders.
Sustainability Report Assurance Process
Defining scope of work with client
Scope of work is defined and agreed with the client and contract is signed
Overall Planning and logistics
Based on scope of work agreed, a detailed verification plan is prepared and team is selected. The sites to be visited are agreed upon and site visit is scheduled
Performing assurance (Head office and site office visit)
Actual verification is carried out and interviews are held with key management representatives, data flows are checked and documents reviewed
Assurance Statement and Verification report
Assurance statement and verification report is prepared and it is subjected to internal quality review and finalized after clients comments.