Professor Graham Hubbard of the University of Adelaide has written a useful paper called Unsustainable Reporting that makes a number of interesting recommendations including:
Sustainability reporting must be integrated with the financials. If this means significant financials need to be ‘double reported’, so be it. Clearly a smarter way is to integrate current financial reporting with the non-financial elements.
We couldn’t agree more.
And his report finishes up with this:
The development of such future sustainability reporting will be meaningful, credible, comparable information about the key drivers of overall business success, taking account of external impacts of the organisation. This will mean that sustainability reporting does make a difference to the business case of the organisation.
And XBRL taxonomy-driven reporting will be key to creating this meaningful, credible, comparable information…
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