CPA Canada helping companies launch sustainability reporting
TORONTO--A new publication from the Chartered Professional Accountants of Canada (CPA Canada) provides a valuable roadmap to help companies initiate sustainability reporting in response to an increasing number of stakeholders looking for this information.
Effective reporting outlines how an organization's sustainability efforts are linked to the company's strategy. It also communicates the organization's environmental, social, economic and governance-related priorities, programs and performance. CPA Canada's A Starter's Guide to Sustainability Reporting is an excellent starting point for new or early-stage reporters and is useful for small and mid-sized public companies as well as large corporations.
"No matter the company size, a common challenge when starting is determining how the organization can make the best use of time and its people to implement a soundly-structured reporting process," says Gord Beal, vice-president, research, guidance and support, with CPA Canada. "Sustainability reporting can look like a daunting task but our guide simplifies the process by outlining key steps, relevant tools and practical advice to assist companies in achieving a well-managed approach."
"For companies without a focused sustainability program in place, the process of developing sustainability reporting can reduce the potential for internal silos and create a shared understanding within the organization of both its risks and opportunities," says Pam Campagnoni, a principal with CPA Canada.
Key benefits associated with developing sustainability reporting include:
• Identifying the issues that matter most to a business and its stakeholders.
• Guiding management to make effective sustainability investments.
• Aligning sustainability performance with bottom line performance.
• Helping to foster a company-wide understanding of the business case for sustainability.
"Developing sustainability reporting will help companies better define and understand their high-priority topics and stakeholder audiences as well as develop a stronger network of partners and resources, both internal and external." adds Campagnoni. "Our publication helps with the crucial first steps."
CPA Canada is the national organization established to support unification of the Canadian accounting profession under the Chartered Professional Accountant (CPA) designation. It was created by the Canadian Institute of Chartered Accountants (CICA) and The Society of Management Accountants of Canada (CMA Canada) to provide services to all CPA, CA, CMA and CGA accounting bodies that have unified or are committed to unification. As part of the unification effort, CPA Canada and the Certified General Accountants Association of Canada (CGA-Canada) are working toward integrating their operations this year.