BSR Insight | Report: Companies Compiling Sustainability Data Inefficiently
While the number of annual corporate sustainability reports continues to grow—a record 48 percent of S&P 500 companies compiled CSR reports last year—many of these reports are undermined by the tools companies are using to produce them, according to a recent study by Ernst & Young that was published in conjunction with GreenBiz. The study surveyed executives and thought leaders who work in corporate environmental strategy and performance.
The “Six Growing Trends in Corporate Sustainability” study indicated that respondents find it challenging to retrieve the right CSR data, assess the data’s credibility, and determine which data could contribute to reporting overall. Respondents cited spreadsheets, centralized databases, emails, and phone calls as the principal tools for CSR reporting.
The study also found that 24 percent of the 272 respondents said they are using packaged software to report CSR data.
It also noted that climate change has become a strategic concern at many companies, resource availability is becoming a de facto reporting requirement, and rankings and ratings are growing in importance.
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