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Sustainability reporting is the most well-known type of non-financial reporting. The basic steps of sustainability reporting are summarised below.
Determinating the top priority issues for the institution:In order to carry out non-financial reporting which, in contrast to financial reporting, is not subject to legal obligations and standards, it is important for each company to report within their own priority issues. In the process of determining these priority issues, institutions should evaluate all of their activities which are under their control and which have an economic, environmental and social impact, as well as all of their stakeholders which have an impact on them.
Establishment of the prioritization matrix: The identified priority issues should be prioritized between themselves. Stakeholder analysis studies should be conducted in order to rank various issues in order of importance from the perspective of both stakeholders and the company, with one-to-one interviews conducted with company executives, prioritization studies of local and global competitors and an examination of the global conjuncture.
Preparing a sustainability report: Escarus works with business partners who are experts in content and design, and provides support for companies to report in parallel with their communication strategy.