Non-Financial Reporting
Companies are under increasing pressure to demonstrate greater commitment to long-term, sustainable value creating which incorporates the wider demands of people and planet.
The changing legal reporting requirements in the EU and upcoming regulations for non-financial disclosures are not making things easier. Yet it’s increasingly expected from companies to prepare their reports in accordance with sustainability reporting standards or frameworks (e.g., WEF/IBC, GRI, TCFD, SASB, etc.), while others will use company-developed or custom metrics that may or may not use existing standards as a starting point. While there is no ‘one-size fits all’, frameworks provide principle-based guidance that helps companies identify topics to cover and determine how to structure and prepare the information they disclose.
In this relatively new landscape of non-financial / ESG reporting, companies are wrestling with what kind of information to report and where and how to communicate it to stakeholders. In any case, reporting must be accurate, complete and consistent for investors and other stakeholders who rely upon such data for their decisions.
Non-financial reporting can be included as part of an annual or interim report or issued as a separate stand-alone document. Whichever approach is followed, companies need to consider the environmental, social and governance impact across a wide range of issues. Related disclosure could include the following topics:
Taking it one step further, BDO can also support in fully designing the report for impactful communication by adding experts from our marketing team.
BDO also supports companies with data management by developing processes and tools to collect the required data, verify and aggregate these, and ensure that the data and sequences are interpreted and correctly captured and converted to the defined report parameters.Taking it one step further, BDO can also support in fully designing the report for impactful communication by adding experts from our marketing team.
BDO can conduct a benchmark analysis, comparing your reporting or your ESG performance with similar companies active in your industry or any other best practice.