Insights on how business operations impact stakeholders are imperative for organisations to be resilient and thrive. As such, interconnected sustainability and financial information is no longer optional – it’s essential.
Findings from our global survey, interviews and roundtables assessing organisations’ readiness to create and use sustainability information call for professional accountants and organisation leaders to
- Harness the power of regulation to build resilience and create sustainable profits – 71% identify regulatory compliance and the corresponding licence to operate as a key driver.
- Assess and optimise stakeholders’ roles throughout the information cycle – 30% find collaboration among industry peers to be most helpful to overcome challenges in creating or using sustainability information.
- Lead the change – only 16% of senior management and boards use sustainability information when making decisions.
- Act now – join the 53% who have started creating and using sustainability information and continuously improve.
Watch our animated overview of the key findings and recommendations, then explore the
Recommendations
• Move beyond compliance. Create sustainability information for compliance and use it to become more resilient and thrive.
• Prioritise globally relevant standards. Start with standards relevant to the jurisdiction and to key stakeholders along the value chain.
• Leverage regulatory reporting ecosystems. Maximise use of available support, guidance, and incentives while being mindful of penalties.
• Know your business end-to-end. Identify the key resources needed and who provides them. Seize opportunities and manage risks threatening the availability or quality of these resources.
• Bake sustainability into stakeholder management. Exchange insights through regular two-way communication with key stakeholders, including policy makers and regulators.
• Build agile systems focused on the end users that better connect sustainability and financial data to meet both internal and external users’ needs.
• Collaborate boldly across industries and regions to drive efficiency and effectiveness. Share expertise, build capacity, minimise blind spots, and continually improve together.
• Champion sustainability. Senior leaders and professional accountants need to recognise the importance of sustainability and drive the necessary conversations and actions.
• Build a flexible resourcing model to facilitate access to relevant skills as and when needed.
• Be proactive. Start now, seize opportunities and build momentum.
Written by Sharon Machado, Aaron Saw, Hsiao Mei Chow
Sustainability reporting: track your progress to create decision-useful information
"Organisation leaders must look ahead to understand and act upon the risks most threatening their organisation’s resilience and the ability to create sustainable value. "
Sharon Machado, head of sustainable business, ACCA
"Professional accountants should step up to create decision-useful information and drive strategic action. "
Hsiao Mei Chow, head of corporate reporting insights – sustainability, ACCA
"At the core of decision-useful information is an appreciation of factors, say of society, geopolitical landscape, geoeconomics, finance, environment and more, that can affect the resources an organisation depends upon. "
Aaron Saw, head of corporate reporting insights - financial, ACCA
