The Montreal Finance Sustainability Initiative (FSI) Best Sustainability Report Awards aims to promote excellence in sustainability reporting among Canadian public companies. In 2018, consultants from this competition answered to the following question :
How can companies be prepared to respond to the shareholders demands?
Top three advice from experts :
Have evidence to back-up decision-making, strategy and reporting. Storytelling is central to effective sustainability reporting, given the relatively qualitative nature of ESG (environmental, social and governance) issues. Having data-driven insights to ground these stories is critical, especially in light of increasing investor focus.
Be proactively transparent. Don’t wait for the demands - from investors, regulators, the public and your employees - for more disclosure. Anticipate and get ahead of these demands by continuously monitoring the external landscape.
Engage the board, management team and leadership across departments by presenting compelling evidence and using the right language. Embedding ESG (environmental, social and governance) issues into core business strategy is a journey, and this requires ongoing dialogue with leadership in order to achieve a fully integrated approach.
Article from Datamaran, a global leader in Software as a Service (SaaS) solutions for non-financial risk management.