The Theme of Climate Change in Sustainability Reporting

The most dangerous phenomenon of the present world is well and truly climate change. It is evident that once we go into severe conditions then it will impossible for all of us to deal with repercussions. We will be unable to rectify the situation if it keeps going like that for more time.

In Far East Arizona, many firms are removing huge amounts of forests. All such forests are as old as 100 years and more. The first and foremost theme in sustainability has been climate change for almost every company. In this article, we will dig deeper into the important points of climate change. It can help you learn the aspects of the climatic changes in sustainability reporting. It will help you know that whether you should select sustainability as your first theme or not.

climate change in sustainability reporting

A Brief Summary of Sustainability Reporting

The communication of sustainability performance in the firm is known as sustainability reporting. The firm is evaluated socially, economically as well as on environmental factors and a report is made on the whole functioning of the firm. Then such a report is presented in front of all the stakeholders to study and the report is made with following all the operations in the firm. So, in this way you have to follow an efficient framework, including Sustainability Accounting Standards Board (SASB) as well as Global Reporting Initiatives (GRI) when making a report.

The most important thing to do is to understand the basic principles of sustainability reporting. All such principles show the right ways to make a report that is well and truly based on facts. It can help the stakeholders to make better decisions.

Some of the integral principles of sustainability reporting are narrated below.

  • Materiality.
  • Accurate working and completeness.
  • Comparability as well as consistency.
  • The responsiveness of stakeholders.
  • Balanced work and neutrality.
  • Accountability system and neutrality.

If you are about to make the report, don’t forget to make it in complete detail. When you are having a theme of climate change, you must tell that how business can be made better without impacting climate. A few of the considerations are given below to keep in mind while reporting climate changes.

When creating your sustainability reports, it is important to be as detailed as possible. With climate change as a common theme, the primary objective is how to mitigate a business’s impacts. Here are the common considerations companies when reporting about climate change.

The Consequences of Climate Change

When companies take themselves as communities,  any harm to the climate may affect them as well. In addition, global warming can have a huge impact on society, the environment, and organizations.

Effective methods are required like installation of solar as well as harvest panels. A business will have to take steps to decrease all the activities that are causing global warming.

Energy-Saving Tips for Small Businesses

ESG and Whole Supply Chain

Carrying out your operations in a sustainable way and achieving sustainability reporting goals is the first important step.  But it should play its role in the decrease of global warming to prove its worth. As a business, you must try to make your supply chain better as well as effective.

The most convenient method is seen to assist them in observing the benefits of sustainability reporting. Climate change as well as global warming is in expectance to be dominant themes in process of sustainability reporting because of their threatening impacts on the planet earth.  Always keep in mind to make the efforts for sustainability progressive so that your company can meet the requirements of success.

The Global Green Economy Index 2016 – Key Findings

green-economyThe 5th edition of the Global Green Economy Index (GGEI) is a data-driven analysis of how 80 countries perform in the global green economy, as well as how expert practitioners rank this performance. Since its launch in 2010, the GGEI has signaled which countries are making progress towards greener economies, and which ones are not. The comparison of national green performance and perceptions of it revealed through the GGEI framework is more important than ever today.

Top Performers

Sweden is again the top performing country in the 2016 GGEI, followed by the other “Nordics” and Switzerland, Germany, and Austria. Amidst these strong results, the GGEI identified areas where these countries can improve their green performance further. These opportunities – focused around innovation, green branding and carbon efficiency – could propel their national green performance forward even more in the future.

Developing countries in Africa and Latin America–including Ethiopia, Zambia, Brazil, and Costa Rica– also perform well in this new GGEI edition, ranking in the top fifteen for performance. While Brazil and Costa Rica receive similarly strong results on our perception survey, Ethiopia and Zambia do not, suggesting a need for better green branding and communications in these two African countries.

Like in 2014, Copenhagen is the top green city, followed by Stockholm, Vancouver, Oslo and Singapore. This new GGEI only collected perception values for green cities as lack of data availability continues to impede our efforts to develop a comprehensive green city performance index. Given the significant role of cities in the global green economy, city-level data development is an urgent priority.

Laggards

No country in Asia ranks well for performance on this new GGEI, with the exception of Cambodia, which was the most improved country as compared to the last edition, rising 22 spots to 20th overall. China, India, Indonesia, Japan and South Korea do better on the perception side of the GGEI, but continue to register concerning performance results.

While many European Union (EU) members perform near the top of this GGEI edition, others including the Czech Republic, Estonia, Poland, Romania and Slovakia rank near the bottom. These results are worrisome and suggest uneven national green performance across the EU.

Many of the countries with high annual GDP growth today rank poorly on the GGEI, further highlighting the limits to GDP as a growth indicator. These countries are mostly in Asia (Malaysia, Thailand, Philippines) and Africa (Nigeria, Tanzania).

The top green economy performers worldwide

The top green economy performers worldwide

Countries with a high reliance on fossil fuel extraction and export generally perform poorly on the GGEI, with a few exceptions. Kuwait, Qatar, Saudi Arabia and Russia all perform poorly while Norway and Canada do much better.

Continuing Trends

Rapidly growing economies, China and India continue to show performance weakness on the GGEI Markets & Investment dimension. Given the large investment required to achieve their climate targets, green investment promotion, cleantech innovation, and corporate sustainability should be developed further.

The United States ranks near the top of the GGEI perception survey and it is widely viewed as a vital market for green investment and innovation, yet overall the U.S. continues to have mediocre performance results, ranking 30th of the 80 countries covered. However, the GGEI found that U.S. company-level initiatives to green supply chains and reduce carbon footprints are accelerating.

Despite having a new prime minister, Australia continues to register a poor result on this new GGEI, ranking 55th of the 80 countries covered for performance. While green markets there are showing some strength, the overall carbon intensity of the Australian economy remains extremely high.

Hosting the annual Conference of Parties (COP) can positively impact the host country’s green brand. Yet this short-term image boost does not always translate to improved green performance in the longer-term, as demonstrated by the low GGEI performance results for Poland (COP19), Qatar (COP18) and South Africa (COP17).

The United Kingdom’s GGEI performance continues to lag behind its EU peers, ranking 25th of the 80 countries covered. While the UK does very well on both the perception and performance side of the Markets & Investment dimension, inconsistent policies supporting renewable energy and green growth continue to hurt the UK on other parts of the GGEI.

Note: The full report can be accessed here