An ESG annual report is published annually by a business to communicate its environmental, social, and governance (ESG) impacts for the previous year. It allows companies to be more transparent, as well as providing them with a platform to discuss where they can improve. .
Is ESG Reporting Mandatory?
Currently, ESG reporting is not considered to be mandatory for a business. It remains an optional yet highly positive step a business can opt to undertake. However, with the environmental plight of the last few years, calls to enforce ESG reporting have been getting increasingly louder, prompting hope that the practice could become a requirement in the future.
ESG Reporting Requirements
While annual ESG reporting may not be mandatory in the UK currently, there are still a number of requirements that come under the remit that companies must follow, namely the reporting on:
Steps to prevent modern slavery
Gender pay gap regulations
How to Report on ESG
ESG annual reports are involved and can be complicated for any business. It is important that you do anything you can do to prepare for the process to ensure reports are consistent and accurate. If you’re ever unsure, we’re here to help.
When choosing the right framework to base your ESG annual reports on, it’s important to select something that suits your business, engages your audience, and aligns with your company’s targets. There is no one-size-fits-all solution.
It can often be good for a business to delegate the job of conducting an ESG annual report toa dedicated team, either within the workforce or from an outside party. This ensures consistency, transparency, and quality across the board.
Producing an ESG annual report comprises a lot of information — which can be overwhelming for some. Thankfully, it’s possible to get software that streamlines the data collection process to allow you to focus your attention on other aspects of the report.
As a business you should be seeking to ensure your ESG reporting is as reliable and consistent as possible. It is important that you assess your methods of analysis throughout to ensure that you are acting efficiently and effectively.
Want to Know More?
Learn more about our other ESG consulting services and how they can benefit your business. Alternatively, click here to browse our FAQs.
Good Management Group Ltd undertook a full review of our ESG performance. The cost was extremely competitive and the results exceeded expectations. Great, knowledgeable and enthusiastic team. I look forward to working with them again soon.
Chief Operating Officer, Unily
The main statement that I would like to make is that the whole piece was brilliantly tailored to our individual situation. Thank you once again for the effort you put in to helping us make the first few steps in changing the travel industry for the better!
Managing Director, MSG Tours
We chose to work with the team at Good Management as it was clear from the outset that they had the passion and expertise needed to help us create and execute our CSR strategy. Their work has been invaluable.
Managing Director, Re:Signal
Time to Get Started
Our team of specialist consultants are on hand to help you devise the ideal ESG annual reporting strategy to suit your business and communicate your achievements in the most effective manner. To get the ball rolling on your journey, get in touch with our team and start the conversation today.