Sustainability reporting gaining traction in Canada
Organizations are increasingly becoming aware of the value of sustainability reporting but not all companies fully understand what's involved in the process.
Susan Todd, principal with Solstice Sustainability Works in Vancouver, says sustainability reporting has become a natural extension of accountability for responsible companies. "It's an acknowledgement that stakeholders are a much wider and more diverse group than those interested in financial reporting."
Sustainability reporting also allows a company to demonstrate it understands a broader spectrum of risks and opportunities, including those that are socially or environmentally related, Todd says. "It's really a way for them to explain they understand their organization's impacts on a broader scale, have a concrete plan in the place and are monitoring progress."
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