The Institute of Singapore Chartered Accountants (ISCA) has developed a roadmap to help new or early-stage Sustainability Reporting adopters kick-start their sustainability reporting journey. The roadmap seeks to provide practical guidance on sustainability reporting implementation process as well as key considerations for the company’s first sustainability report.
The roadmap includes a compilation of questions asked by the early-stage sustainability reporting implementers in the market. These questions centre around practical implementation challenges faced, based on discussions with ISCA’s Corporate Reporting Committee and Sustainability Reporting Working Group.
According to ISCA’s Chief Executive Officer, Mr Lee Fook Chiew, said: “The true value of Sustainability Reporting lies in how businesses are able to successfully integrate sustainability within their business strategies, operations and processes. As the concept of Sustainability Reporting may be new to many, we developed the roadmap to help organisations formulate and execute their plans to achieve a smooth implementation of sustainability reporting.”
“Every journey starts with a first step, and sustainability reporting is no different. The new Sustainability Reporting Implementation Roadmap is a guide for companies embarking on their journey or seeking a path to better reporting, for the benefit of investors and societal stakeholders,” said Mr Tan Wah Yeow, ISCA Corporate Reporting Committee Chairman. “Those with the experience will tell you that it is a marathon and not a sprint. The process takes time, effort and resources – but the results are also rewarding. It helps companies refine their stakeholder engagement, business strategy and operations.”
The roadmap provides step-by-step guidance and by breaking down the process into six phases – planning, materiality assessment, target setting, data collection, report preparation and assurance.
ISCA Sustainability Reporting Implementation Roadmap can be downloaded from ISCA website.
ISCA Sustainability Reporting Roundtable Report “Chief Financial Officers for Sustainability Reporting” can also be found in ISCA website.
Source: ISCA, 19 September 2017