* What is this topic?

A sustainability report considers the contribution and impact that non-financial issues have on the company, it can range from Governance to Climate Change.

It is a complex concept, but in summary it is “meeting the needs of the present without compromising the ability of future generations to meet their own needs”. – www.sustain.ucla.edu

Recently reporting on certain sustainability issues have now become mandatory to report – “UK government announces that under the Companies Act 2006, companies are now required to report their emissions in their directors’ report”.

* Why is it important
Along with the recent introduction of the G4 standards and the GRI recommendations, the significance of a sustainability report has become progressively more critical as pressures on companies both publically and institutionally to provide and publish reports increases in light of recent natural disasters. It is said that we “use about 40% more resources every year compared to what we put back”, some companies make it their mission to make it known that they give back to the environment e.g. Velvet. There is a need for a measurement system to be put in place to assess industry’s impact however currently accounting is inadequate for numerous reasons. - - http://ezproxy.bcu.ac.uk:2055/science/article/pii/S0155998210000128

The increase in awareness has meant that external users e.g. customers, investors and even shareholders are making decisions based on these reports. Detailed reports may lead to interest from potential investors and may set them apart from competitors.

The report allows a company to establish a link between their policies and how those policies contribute to a sustainable global economy. We know that the earth has limited resources and it is essential to learn how to manage what is left or become more efficient.

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