Sustainability And Environmental Reporting
Sustainability and environmental reporting by business are growing global trends. A sustainability report reports to the public the environmental performance of a business, the extent and effectiveness of its business-wide and/or countrywide integrated environmental management, the extent of its corporate responsibility and the degree of implementation of voluntary initiatives and codes of conduct.
Fully effective sustainability reporting is therefore the product of a management system which monitors, evaluates and reports upon progress to the development of a coherent framework for more environmentally sustainable and socially inclusive wealth creation.
Environmental reporting focuses therefore on the purely environmental aspects associated with the business while sustainability reports includes social and other factors deemed to be of relevance for the particular business.
While currently there are no legislative requirements for either environmental or sustainability reporting by business in Malaysia, the adoption of such reporting by businesses internationally has grown rapidly over the recent period. This trend is expected to continue and the pressures for businesses to adopt such systems to gain pace. It would appear also that domestic legislation on environmental matters is becoming increasingly entrained within global trends and there is a strong possibility that sustainability reporting (or at the very least environmental reporting) will become a legislative requirement in the foreseeable future. Indeed, ESI are now of the opinion that all businesses with a potential for significant environmental and/or social impacts should start to take active steps towards developing sustainability (or at the very least environmental) reporting systems.
ESI have at your disposal a team of multi-disciplinary professionals with substantial in-depth experience of environmental and sustainability reporting internationally, who can help guide you step by step through the process of setting up and operationalising ‘best practice’ systems tailored to fit your own specific needs.