These are the findings of a new report that also shows that an increasing number of companies are integrating the UN's Sustainable Development Goals (SDGs) into their reporting paradigms. The fact that the Global Reporting Initiative (GRI) is the dominant platform makes sense given the fact that new GRI standards are compatible with SDGs. The report also indicates that an increasing number of companies reporting to the CDP, an organization that supports corporate disclosures of environmental impacts.
This new report was created by the Centre for Sustainability and Excellence (CSE), a sustainability consulting and educational organization. The key finding is that financial returns are associated with sustainability, specifically, companies that improve their environmental performance and social performance also benefit the bottom line.
The study examined the sustainability reports of 642 North American companies. The research revealed a strong correlation between financial performance and sustainability. Almost three quarters (73%) of the top 50 companies recorded better financial results in 2017 compared to 2016. Companies were ranked in terms of the following four components: Community, employees, environment, and governance.
The report also indicated that reporting initiatives are essential. The best performers tend to have the most comprehensive sustainability reporting. Almost one third of the top 50 companies validate their reports with a third party (external assurance). More than two thirds of companies use the GRI making it the most popular reporting framework.
A growing number of organizations are integrating the SDGs into their reporting and between one third and one half of companies report to CDP.
Click here to access the report
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