{"id":1336,"date":"2013-12-17T09:35:04","date_gmt":"2013-11-25T09:57:10","guid":{"rendered":"http:\/\/bcsdh.hu\/?p=1336"},"modified":"2013-12-17T09:35:04","modified_gmt":"2013-11-25T09:57:10","slug":"wbcsd-releases-new-report-on-improving-the-effectiveness-of-non-financial-reporting","status":"publish","type":"post","link":"https:\/\/bcsdh.hu\/en\/news\/wbcsd-releases-new-report-on-improving-the-effectiveness-of-non-financial-reporting\/","title":{"rendered":"WBCSD Releases New Report on Improving the Effectiveness of Non-Financial Reporting"},"content":{"rendered":"

In the face of unprecedented global, regional and local sustainability challenges, the need for transparent and effective non-financial reporting has never been more urgent. In partnership with Radley Yeldar, the WBCSD has conducted one of the largest independent research projects of corporate non-financial reporting<\/strong>, entitled Reporting Matters \u2013 WBCSD 2013 Baseline Report<\/a><\/em>\u00a0<\/em>.<\/p>\n

Reporting Matters, <\/em>launched at the WBCSD\u2019s Council meeting 4-8 November 2013, in Istanbul, sheds light on effective non-financial reporting practices and offers a pool of inspirational examples to stimulate the sharing of best practices. The review provides recommendations so that corporate reports can help companies create value for all stakeholders in the short, medium and long-term.<\/p>\n

Using a set of qualitative criteria, the WBCSD conducted a review of 175 of its members\u2019 sustainability reports to identify effective reporting practices for the benefit of WBCSD members and the wider corporate community. The research reveals that while there are many examples of outstanding reporting practice, there are also many opportunities to make reporting even more effective \u2013 often through simple quick-win actions.<\/p>\n

\u201cReporting practices need to change to ensure that businesses are truly valued on what is important and that more sustainable companies get better recognized and rewarded for their performance,\u201d said Peter Bakker, President of the WBCSD.<\/p>\n

Reporting Matters<\/em> also takes into account recent developments in reporting frameworks such as the Global Reporting Initiative (GRI) G4 Guidelines and the recently issued draft of the Integrated Reporting Framework. <\/em>Although integrated reporting is by no means the principle channel through which companies report on their non-financial performance, Reporting Matters<\/em> research shows that the GRI guidelines are used by the majority of companies, and that the Integrated Reporting Framework<\/em> is gaining traction.<\/p>\n

The report also suggests that effective corporate reports are those that are engaging and meet readers\u2019 information needs, which is why a significant part of the research in Reporting Matters<\/em> focuses on report users\u2019 experience.<\/p>\n

\u201cUnderstanding report audiences\u2019 needs is key to effective reporting. The very best reports can act as a catalyst for change, and that\u2019s why this research is so important in providing much needed focus on \u2018how\u2019 to report in addition to \u2018what\u2019,\u201d said Ben Richards, Head of Sustainability at Radley Yeldar.<\/p>\n

Among many criteria, the concept of materiality emerges as the cornerstone of effective reporting. Derived from a principle of financial reporting, materiality is used to help focus on a more strategic approach as well as to guide investment and resources allocation decisions.<\/p>\n

Through effective reporting, the WBCSD urges companies to scale up solutions toglobal priorities identified by the WBCSD\u2019s new Action2020 initiative<\/a>, and progress towards its Vision2050<\/a>ideals of true cost, true profit and true value. \u00a0The WBCSD will work with its members on \u2018changing the rules of the game\u2019 by developing tools for the integration of sustainability into risk management frameworks and valuation models, and through engagement with standard setters, the investment community and regulators.<\/p>\n

For more information on Reporting Matters, contact<\/a><\/p>\n