6 Actions for Corporate Sustainability
Ernst and Young, in cooperation with GreenBiz Group, conducted a survey in late 2011 which covered a wide range of topics related to corporate sustainability and reporting.
The results show that while interest in these areas continues to rise, the tools are still developing.
Conclusions drawn from the outcome of the survey suggest a number of actions to promote corporate sustainability
- Actively pursue a sustainability and reporting system similar in transparency and rigor to the system used for financial reporting.
- Engage CFOs in sustainability efforts in a way that can measure progress, create value and enhance investor confidence.
- Recognize that employee involvement is needed to embed sustainability into the corporate culture.
- Understand the value outside of the regulatory arena especially when independently verified.
- Assess the availability and reliability of strategic resources from a sustainability perspective, including a risk management plan addressing contingencies for disruptions in access to key resources.
- Engage in independent third party evaluation or assurance of sustainability reporting (eg. ranking and ratings organizations) to enhance the value of such reporting to investors and other stakeholders.