Sustainable Business Eco-System: Environment, Social and Governance (ESG) Reporting

10 Jan 2022   -   14 Jan 2022
School of Management
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A sustainable ecosystem is a business environment ensures that all processes, products, manufacturing activities and services adequately address present environmental and social concerns along with business profit. Sustainable business strategies such as sustainability reporting enable organizations to consider their impacts on a wide range of issues and address them for building a sustainable business ecosystem. Sustainability reporting (SR) is the disclosure and communication of environmental, social, and governance (ESG) goals of organizations and enables them to be more transparent about the risks and opportunities they face. Every day, decisions are made by businesses and governments which have direct impacts on their stakeholders, such as financial institutions, labor organizations, civil society and citizens, and the level of trust they have with them. These decisions are rarely based on financial information alone. They are based on an assessment of risk and opportunity using information on a wide variety of immediate and future issues. Building and maintaining trust in businesses, stakeholders and governments is fundamental to achieving a sustainable economy and world. The benefits of sustainability reporting include improved corporate reputation, building stakeholders’ confidence, increased innovation, and even improvement of risk management.