A sustainability report is the key platform for communicating sustainability performance and impacts — whether positive or negative. It also helps topics that are relevant to the organization and prioritize those topics that are “material”. Another source of sustainability measures comes from companies’ reporting standards such as the triple bottom line accounting, as a growing body of firms and public institutions systematically reveal information about their environmental and social performance beyond the traditional financial statement.
There are many different terms used to report namely Sustainability report, Non-financial report, Triple bottom line report, Corporate social responsibility (CSR) report, Assessment report, Benchmark Report, Transparent Report, Corporate Report, Responsibility Report and many more.
Over past several years, the various parties involved in developing the reporting frameworks have been working together to align their language and approach, and there are increasingly valuable synergies between the frameworks, which should make it easier for companies to evaluate and apply them while also reducing the amount of work and redundancy.
Corporate Social Responsibility (CSR) is most commonly known term. CSR is defined as “Enterprise should have a process in place to integrate social, environmental, ethical and human rights concerns into their business operations and core strategy in close collaboration with their stake holder.”