Sustainability reports are reports that document the impacts of a business on nature after its projects or activities, the risks that these impacts pose on both the company and nature, and how these risks will be managed.
In our world, sustainability has become very important among company policies, especially since the 2000s. For this reason, sustainability reporting provides companies with a chance to observe the future, while also improving technology and communication techniques. These reports also provide an important prestige for customers and the public.
Today, both in Turkey and in many countries around the world, large companies and institutions collect world-class sustainability data, identify risks and strategies through analysis, and work with individuals and consultants for sustainability reports. Reliable, consistent and comparable reports are then publicly disclosed, with Coca Cola, Samsung, Arçelik and Anadolu Efes among these exemplary companies.
Today, the most preferred sustainability reporting system is the GRI (Global Reporting Initiative) standard.
What are the Objectives of a Sustainability Report?
Sustainability reports basically have two objectives.
- The first purpose is to ensure that institutions and organizations adopt sustainable development and make forward-looking plans by measuring their performance in this regard.
- The second purpose is to provide continuous and regular information in the eyes of the public, customers, investors, employees, and stakeholders.
Thanks to these objectives, companies that play a role in environmental policies provide a significant positive contribution to this process.
What Benefits Do Companies and the Environment Gain from Sustainability Report Consultancy?
Many companies in the world and in Turkey regularly share sustainability reports and provide a reliable future. At this point, the sustainability report consultancy process has a very important place. When reporting studies are carried out with expert support, both companies and the environment gain great benefits.
Considering at the benefits for companies:
- Risk management and risk analysis in businesses can reach a better position.
- Company prestige increases.
- Advantage is gained in sectoral competition.
- Thanks to an effective risk management, economic targets can be realized in the long term.
- Trust, loyalty, motivation, and performance contribution for employees.
- Advantage is gained when taking measures against sanctions and legal requirements.
- Stakeholders, decision-makers, and investors can clearly see the value of the company beyond financial data.
- The business can attract new investors.
- The brand gains a better perception and becomes more reliable.
- Economic growth is supported by solid foundations.
- In terms of the long term, a view of the company’s future developments can be obtained.
- Thanks to good reports, support and incentives can be obtained from the government.
When we look at the environmental benefits obtained when reporting service is received with sustainability report consultancy
- A more conscious environment is achieved.
- As development policies are adopted and developed, the possibility of harming the environment is avoided.
- The environment is at the heart of developing economies, providing incentives for future strategies.
- A plus is achieved in terms of a sustainable future.
- The current situation is reviewed, and the next steps are determined.
- Opportunities are created for society to meet its needs.
Who Should Choose Sustainability Report Consultancy?
Sustainability reports appeal to everyone from architecture, banking, food sector or small companies. It is of great importance especially for publicly traded companies, and although it is not binding, its importance and impact are at a crucial point today. For this reason, it is possible to receive consultancy at every point such as media organizations, educational institutions, health institutions, mining companies, energy companies, transportation companies and urban planning institutions.
What is Corporate Sustainability Reporting in GRI Standard?
The Global Reporting Initiative (GRI) is the most preferred sustainability reporting standard in Turkey and the world today. This US-based organization, founded in 1997, develops and updates its standards every day.
It provides reliability, consistency, and comparability criteria in reporting. Today, the most famous companies traded on stock exchanges in the US are increasingly choosing this reporting. In Turkey, in the last 20 years, this number has increased from 2 companies in 2005 to over 100 companies reporting today.
What is the Scope of Corporate Sustainability Reporting Consultancy in GRI Standard?
While providing GRI sustainability report consultancy, there are certain stages in the process. Within this framework:
- Collecting and analyzing data after basic preparations, creating the basic report, providing stakeholder communication and conducting surveys,
- After identifying the essential topics, making technical calculations, determining the content, creating visuals and translating in English,
- Design theme determination, company communication, draft report design integration preparation,
- The scope includes GRI index preparation, obtaining GRI approval and publishing the report.
Within this process, the report analyzes the current situation with current standards and addresses all sustainability work areas. By identifying risks, it develops strategies to mitigate them and provides prestige to companies. The report is completed with a method that keeps pace with the knowledge and experience of experts by providing development follow-up.
What are the Stakeholders and Countries for Corporate Sustainability Reporting in the GRI Standard?
In this reporting system, stakeholders include investors and shareholders, as well as all groups such as employees, suppliers, end users, media, public institutions, managers and customers. In this context, the company should continuously follow the principles and provide regular, consistent, honest and comparable reports to stakeholders.
The GRI principles include the following points:
- Reports that provide integrity
- A well-defined sustainability contents
- Prioritization of topics
- Realization of share participation
What are the GRI Standards for Corporate Sustainability Reporting?
GRI has set standards by considering economic, social, and environmental dimensions in terms of reporting. In this sense, it is reviewed in detail whether the company meets the specified conditions within the framework of the standards in each of the specified dimensions.
- Within the framework of the economic dimension, while examining economic issues, it is reviewed how efficiently the limited resources of the world can be used. At this point, the following topics are examined.
- Economic performance
- Indirect economic impacts
- Fight against corruption
- Market presence
- Purchasing practices
- Anti-competitive behavior
- In the social dimension, the value that the company expresses in the social framework and how it leaves an impact in social terms are examined. Again, among the topics examined, for example, the following points are included.
- Labor/management relations
- Education and training
- Child labor
- Employment
- Occupational health and safety
- Freedom of association and collective bargaining
- In the environmental dimension, the impact of this company on the ecosystem and what kind of adaptation studies it has carried out in terms of reducing the damage to nature with its responsibilities at this point are of interest. The topics examined in this dimension include the following points.
- Materials
- Water and waste
- Emissions
- Environmental adaptation
- Energy
- Biodiversity
- Wastes
- Supplier environmental assessment
