Streamlining Sustainability Reporting: Survey Reveals Top Priorities for Corporates

Respondents highlighted the value of a software solution that facilitates an audit trail and data validation, supports reporting alignment across multiple frameworks, and enables data collection integrated with existing organizational systems. Other relevant features included dashboard and visualization capabilities, customizable reporting templates, collaborative tools, and functionalities for benchmarking and gap analysis. These responses reflect the evolution of sustainability reporting needs and expectations, as well as the involvement from multiple internal stakeholders in the reporting process. The following paragraphs discuss the top three of these features in more detail.

Audit Trail and Data Validation: Data accuracy is paramount, as sustainability reports face increasing scrutiny from users, including investors and other stakeholders. Companies are also elevating reporting standards to align with practices in areas such as financial reporting. Internal audits are becoming more common, and a growing number of companies pursue external assurance, often as mandated by evolving global regulations.

Multi-Framework Support: As previously demonstrated, a growing number of companies leverage multiple reporting frameworks. Coordinating reporting efforts to align with diverse taxonomies – including questionnaires for business partners and sustainability rating methodologies – can be complex and logistically challenging. The ability to map key disclosures to various frameworks (including customized templates) seamlessly streamlines workflows, saves time and effort and ensures reporting priorities remain focused.

Data Collection and Integration with External Systems: Beyond data accuracy, a seamless and efficient data collection process is vital for sustainability reporting teams. Pulling information from multiple sources, such as spreadsheets, internal systems, and third-party applications can be chaotic, overwhelming, time-consuming, and prone to quality risks. Integrating multiple data sources and maintaining a standardized data repository are essential. One respondent emphasized the need for a single record for each data point, traceable across all potential reporting instances.