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Sustainable Reporting

In: Business and Management

Submitted By jjcjkj11
Words 1967
Pages 8
The Way Ahead For Sustainability Reporting

Written by:
Josiah Chia
U1010011K
Seminar Group 3
Team 1
Name of Instructor: Patricia Tan

In recent years, the subject of sustainability reporting is becoming an increasingly contentious topic all around the world, with companies beginning to see the value of adhering to this new and holistic facet of reporting corporate performance. Why is sustainability reporting assuming greater significance in today’s society? To what extent will these developments impact investors and other stakeholders? To fully understand the implications of sustainability reporting on reinventing the way companies disclose their performance, let us first explore its definition as well as its significance.
Sustainability Reporting: Definition and Significance In essence, sustainability reporting entails “the publication of environmental, social and governance (ESG) information in a comprehensive and strategic manner that reflects the activities and outcomes across these three dimensions of a company’s performance” (SGX Sustainability Reporting Guide, 2011). It seeks to improve the information content of financial reporting by supplementing that with non-financial information disclosed by the company. With the encouraged extension of companies’ reporting through disclosure of its ESG information, it is hoped that this will provide a more comprehensive and balanced view of a company’s performance. Sustainability reporting assumes greater significance today for a variety of reasons. Firstly, investors today do not simply desire healthy financial performance from firms; instead, their expectations have augmented to include other non-financial factors such as ESG information about a firm. Hence, sustainability reporting allows firms to communicate its commitment towards a sustainable society as well as provide assurance that financial

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