CARROTS AND STICKS
Sustainability reporting policies worldwide – today’s best practice, tomorrow’s trends
In 2010, four project partners published the second edition of Carrots and Sticks1, an overview of global developments in policy and regulation for sustainability and Corporate Social Responsibility (CSR) reporting. In the years since, the practice of sustainability reporting has continued to grow. Many more governments, market regulators and stock exchanges have been initiating reporting policies and regulation. Our global sustainability challenges need a joined-up response from different actors, and sustainability reporting is key. Governments are increasingly concerned with sustainable development, inclusive economic growth, increasing transparency, and building trust among their constituents. An increasing number of companies and organizations want to make their operations sustainable and to respond effectively to their external impacts. Establishing a sustainability reporting process helps them to set goals, measure performance, and manage change. A sustainability report is the key platform for communicating the performance information – both positive and negative – that is needed by organizations themselves, and by all those who are affected by them. Sustainability reporting is therefore a vital step for managing change towards a sustainable global economy – one that combines long term profitability with social justice and environmental protection.