To give the company clarity on how cost-effective, material sustainability reporting can be established.
We suggested that strong initial sustainability reporting can be short, but very much to the point and would have the following elements (step-by-step):
1. Discussion around the most material non-financial (environmental, social) risks for company.
2. Establishing a small number of key metrics (KPIs) around these main or most material risks for company.
3. Reporting the annual statistics around these metrics (e.g. C02 emissions (direct/indirect), toxic emissions, staff accidents/incidents, food/product safety)
4. Setting targets around these metrics and establish regular reporting on how well they have been achieved.
5. Establishing management systems and processes to enable achieving the targets (e.g. ISO 14001, OHSAS 18001, HACCP).
This can be 2-3 pages, no sizable, glossy CSR reports required.