Why sustainability should be your CFO's top priority
Various risk topics, including compliance and sustainability issues, are increasingly on the minds of CFOs—especially as these topics are being used by investors as a means for evaluating the global financial crisis.
Increasing regulation has placed higher importance on how a company manages risks in a proactive manner. It's also forced companies to reassess the necessity of collecting, analyzing, continuously monitoring, as well as reporting sustainability data to its many stakeholders.
Our recent white paper, The CFO and the Sustainability Reporting Chain: Why CFOs should care about sustainability reporting, explores the business imperatives surrounding the sustainability reporting chain, and the importance of data verification and materiality. Here are a few items to keep in mind:
- Increasing importance of non-financial data
Companies that provide information on sustainability issues show stakeholders how business strategy and risk are being managed.
- Communicating material information and metrics
It's key for companies to ask, What do people want to know about our company, and why? After defining material items, companies must identify metrics to measure this information.
- Capture value through cloud-based technology
Cloud-based systems help capture the business value of the chain. Enabling easy access by team members across the globe, these systems offer a controlled, collaborative environment in which to draft all documentation and collect information.
This is just the tip of the iceberg. For an overview of the sustainability reporting chain and to learn why sustainability should be a top priority for CFOs, read the whitepaper.