Sustainability reporting is becoming an exercise of great value for companies that intend to advance their sustainability performance and highlight value among their stakeholders.
At the international level, it is increasingly common to introduce thereporting of “non-financial” issues as part of the company's global report, traditionally starring the financial report. The lines that separate some issues from others are blurring, so it is expected that the fusion of both types of reports towards an integrated one will accelerate in the coming years.
In countries like Spain, this type of reporting is already mandatory by law for an important group of companies, although there is still some way to go. According to a recent report referring to the inclusion of non-financial information in the annual reports of CSR,Spanish companies have gone from 51% two years ago to 68% today. The same thing is happening quite rapidly in countries like Japan, Brazil or Mexico.
What benefits does reporting non-financial information provide?
The reporting of non-financial information allows companies to make known in a transparent and clear manner what their performance has been at an economic, social and environmental level, quantitatively and qualitatively, providing internal clarity in the reading of data and consequently visibility of new opportunities for improvement and cost reduction. At an external level, allissues linked to sustainability and CSR increase the risks of companies and organizations and that is why interest groups (stakeholders) want to be more widely informed every day about the impact that these risks can have on the financial results of the organization.
In this way, investment portfolio analysts increasingly delve deeper into non-financial information, before takinginvestment recommendation decisions,hence the value of this information is growing over the value of financial information. In non-financial information reports (through the many existing models) you will find answers to such concerns for the company analyzed.
GRI Standards
The Global Reporting Initiative has introduced a new revision to its GRI model, designed to help improve reporting content, review specific disclosures, and determine whether the organization has responded to requests for information from the requirements outlined in theGRI Sustainability Reporting Standards.
The evolution of GRI reporting guidelines toward modular standards reflects the continuing sophistication of sustainability reporting. It also implies that the GRI standards are more suitable for incorporation into the information policies of market regulators and governments.
Complying with the report to GRI Standards or the different international sustainability reporting models is easier if we have the most appropriate tools. InSicaSoftWe find effective and simple solutions for reporting non-financial information adapted to national and international standards. The road to social responsibility and sustainability It is simpler today, carrying it out is only in our hands.