Prince Charles has made sustainability reporting simple, now it's up to companies to embed it in their processes
The launch of the report of the Prince of Wales’ Accounting for Sustainability Project just before Christmas was hugely important.
For the first time, business and the public sector now has a simple and clear framework on which to base their sustainability reporting efforts. The process of embedding sustainability deep in an organisation and making sure that sustainability issues are reported alongside and connected with more conventional financial information is now recognised to be of enormous importance.
As a matter of course, companies are now saying that they have to do this. For them it has become a business imperative. The effects of climate change are a board-level issue. It’s not something that companies do in the belief it makes them seem somehow nicer. The benefits are both financial and reputational. But those benefits will not be properly felt if a company’s sustainability efforts are not reported accurately and clearly.
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