The concept of sustainability, in its simplest form, means the continuation of existence. From a 21st century perspective, it means that humanity sets a certain limit for natural capacity and lives according to this limit, as well as being able to obtain a natural environment in a way that ensures the continuity of natural resources.
Today, people, institutions and countries need to understand their impact on nature and take socio-political measures to minimize damage. For this reason, while sustainability is a very broad concept, the United Nations World Commission on Environment and Development (WCED) defined it in 1987 as working for the needs of the present without putting the needs of future generations at risk.
What is Corporate Sustainability?
Today, corporate sustainability is very important especially for companies with the development of technology. In this sense, corporate sustainability refers to all the work that a company must do to minimize the destruction left on nature and to continue its life in this context. At the same time, companies should also consider the social and economic dimension effects and create a higher standard of living in these areas. Companies have the chance to prove their corporate sustainability efforts through sustainability reports.
What is a Sustainability Report?
A sustainability report is a report that registers that the projects and activities carried out by a company do not harm human and environmental life and that the company has created a working system that shows that it uses energy resources in a balanced way.
These reports are used not only to understand the company’s responsibilities and actions, but also to engage with stakeholders and turn risks into opportunities. The reports provide a transparent sharing opportunity for corporate sustainability strategies, risk management and environmental factors. In addition, it is also possible to take strong steps to reach profit and development targets.
How Can Sustainability Reports Be Prepared?
There is no single reporting method for sustainability reports. Because different organizations have published different standards and companies can choose among these standards in accordance with their own structures. Companies can even choose how often and with which method they will share this report.
Although reporting standards vary, they basically have certain criteria in terms of the company’s environmental policy, living conditions, resource use and human rights. Within this framework, the standards are used to examine and study, identify risks, and report after the development of improvement strategies.
While 3 internationally recognized guidelines set the standards for corporate sustainability reporting, these guidelines include:
- United Nations Global Compact (UN Global Compact) (UNGC)
- Global Reporting Initiative (GRI)
- Organization for Economic Co-operation and Development (OECD) standard.
Today, the most preferred reporting standard worldwide is the Global Reporting Initiative (GRI). Although this standard is also frequently used in our country, it will be necessary to look at other standards.
United Nations Global Compact (UNGC) – (UN Global Compact)
It is a guide developed by the United Nations that encourages companies to adopt sustainable methods and social responsibility projects. These rules are non-binding and include human rights, environment, anti-corruption and labor rights.
Organization For Economic Co-Operation and Development (OECD)
This standard has standards for different dimensions such as countries, companies, cities, institutions in many different sectors such as agriculture, innovation, economy, and health. While the reports are regularly made public, the organization publishes guidance studies and reports within the scope of corporate sustainability, especially within the framework of sustainable development topics and green growth.
