By Andrew White
Nov. 3, 2011
Sustainability is a major buzzword flying through America’s corporations and it seems everyone is “going green” to gain attention, attract new customers, reduce operating costs and ultimately improve the bottom-line. So, how can a responsible corporation get the most out of its sustainability initiatives? Measure, monitor and report.
The role of sustainability reporting in corporations looking to improve environmental, social and financial bottom lines is a role that may be new and not completely clear to the executives that need to make the efforts happen. Sustainability reporting is a complex process and requires some level of expertise. Top executives are a crucial part of this process because of their high-level knowledge of their corporations and their ability to effect change across the organization. One of the best ways to undertake a sustainability reporting initiative is through an established framework and with the assistance of qualified sustainability professionals.
Understanding The Framework
Global Reporting Initiative (GRI) is an organization that has developed an internationally recognized, widely used framework for sustainability reporting. The framework is made up of principles, performance indicators and reporting guidelines, created to assist corporations (and many other entities) in measuring, monitoring and reporting their impact on the environment. GRI provides corporations with a set of guidelines for measuring sustainability efforts across a number of facets. GRI-trained professionals provide interested corporations with the necessary guidance and expertise to complete a successful reporting process and move forward in their sustainability initiatives.
Performance indicators within the GRI sustainability reporting framework include Economic, Environmental and Social markers. Specific markers are chosen early in the process to develop a complete report that reflects the mission and intentions of each individual corporation. GRI successfully ties these three aspects together into a framework that is adaptable to any corporation – executives can choose to focus on the components that are most important to their company and its stakeholders. A corporation must, however, choose indicators from all three aspects, guaranteeing a well-rounded, comprehensive study.