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Why should you assess and share your sustainability impact?

04 January 2024

Assessing and sharing your sustainability performance is an essential step for many reasons, of which 5 seem simply unquestionable:


1. It is the right thing to do. Sustainability means "meeting our own needs without compromising the ability of future generations to meet their own needs". It is impossible to question the impact our life and businesses have on the planet and people around us - and we, as managers, are the ones who can change that.


2. To make progress, you need to know where you stand. If you want to make your company more sustainable, it is crucial to first understand your current impact on environment, communities, customers, suppliers, employees and shareholders, as well as to asses your company's exposure to environmental, social and governance risks. Only knowing this we can assess next steps best suited to your company's vision and values. 


3. Consumers' expectations. According to Amazon Higher Impact Report 2022, 62% of consumers seek out sustainable brands, and 78% of consumers agree that brands should do more to encourage people to be more concious consumers. Threfore providing your clients with professional, honest and up-to-date sustainability reporting is a must-have step of a modern business.


4. Credibility and image of your company. By sharing with public reports on sustainability you prove that your business is transparent and managed in a professional manner, which makes it much more credible for investors, potential clients, recruitment candidates and other stakeholders of your business.


5. Legislation. The European Union is a pioneer in terms of introduction of ESG standards, which affects significantly companies operating in its region. The most discussed recently is the Corporate Sustainability Due Diligence Directive (CSDD) and Corporate Sustainability Reporting Directive (CSRD) which emposes ESG reporting on all companies with more than 250 employees.


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