Vysus supports clients in their preparation of ESG (Environmental, Social, and Governance) reports, publications, and disclosures to markets and regulators. This process of compiling and presenting information about an organisation's performance and practices related to sustainability and responsible business practices is often a challenge to smaller organisations that do not have well established sustainability experts to support report development.
There are a number of key steps involved in the preparation of ESG reports, publications, and disclosures.
Data collection and analysis: Gathering relevant data and information on environmental, social, and governance performance indicators, such as carbon emissions, water usage, employee diversity, community engagement, board diversity, and ethical business practices. This may involve collecting data from various departments, business units, suppliers, and external sources.
Materiality assessment: Identifying and prioritising ESG issues that are most relevant and significant to the organization and its stakeholders. Conducting a materiality assessment helps determine which ESG topics should be included in the report based on their potential impact on the organization's financial performance and reputation.
Reporting framework selection: Selecting an appropriate reporting framework or standard to guide the preparation of the ESG report. Common frameworks include the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), and the new International Sustainability Standards Board (ISSB) Standards that build upon SASB to provide a common international reporting framework.
Report structure and content development: Developing the structure, content, and format of the ESG report based on the selected reporting framework and stakeholder expectations. This may include sections on the organisation's ESG strategy, governance structure, performance metrics, targets, initiatives, case studies, and future plans.
Stakeholder engagement: Engaging with key stakeholders to gather input, feedback, and perspectives on the organisation's ESG performance and reporting. This may involve conducting stakeholder surveys, interviews, focus groups, and consultation sessions to ensure that the ESG report addresses stakeholders' interests and concerns.
Data validation and assurance: Reviewing and validating ESG data to ensure accuracy, reliability, and consistency. Some organisations may choose to obtain external assurance or verification of their ESG reporting from independent auditors or assurance providers to enhance credibility and transparency.
Continuous improvement: Evaluating the effectiveness of the ESG reporting process and seeking opportunities for improvement. This may involve soliciting feedback from stakeholders, conducting internal reviews, benchmarking against industry peers, and revising reporting practices to enhance transparency, relevance, and accountability over time.