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Sustainability reporting

Sustainability reporting is a structured tool that captures not only the economic impact of an organisation's activities but also their social and environmental implications, taking into account the expectations of stakeholders.

The aim is to draw up a report – in accordance with GRI Standards – can periodically communicate the outcomes of its actions, not limiting itself to financial and accounting aspects, with a specific focus on the three key dimensions of sustainability: economic, social, and environmental.

The sustainability reporting has nothing to do with the financial statements, which are accounting documents that provide a representation of the company's financial position and results. As a matter of fact, its purpose is to inform stakeholders of the economic, social and environmental results generated by the company throughout its activities.

The sustainability report has several purposes:

Self-analysis, as the sustainability report allows the identification of areas for improvement towards the creation of value for stakeholders;
Outlining priorities for action;
Monitoring impacts and raising awareness of the impact and value that the company generates;
Support for strategy by integrating priorities for action into the company's long-term strategic plans.

What are the advantages of a sustainability reporting?

Adopting this sustainability management and communication tool produces a double set of benefits for the company.

INTERNAL benefits

Greater awareness of risks and opportunities
A clearer link between financial and non-financial performance
Improvement of long-term management strategy and policy
Simplified processes, reduced costs and improved efficiency
Ability to compare and evaluate sustainability performance against laws, regulations, codes, performance standards and voluntary initiatives
Improved corporate climate, productivity, employee attraction and retention

external benefits

Mitigation of negative environmental, social and governance impact
Improvement of reputation and brand loyalty
Enables external stakeholders to understand the true value of the organisation
Ability to demonstrate how the organisation influences and is influenced by expectations regarding sustainable development
Ability to attract capital and benefit from public and private funding
Drastic reduction in the possibility of being involved in publicised environmental, social and governance failures

contact

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Stefano Damagino

Certified Tax Consultant, statutory auditor (Italy)

Associate Partner

+39 02 6328 841

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