Worldfavor Report 2021 – Navigating the Landscape of Sustainability Reporting
Worldfavor presents the report 'Navigating the Landscape of Sustainability Reporting'. The report offers insights about the current state and challenges when it comes to navigating the sustainability reporting landscape. The report was created with the purpose to get a greater understanding and a deeper insight into how companies and organizations report on sustainability.
Worldfavor is a global sustainability platform that was founded on the idea that every person and business can make a difference by being able to make truly sustainable decisions. Worldfavor's global network connects organizations across the world to access, share, and gain insights from sustainability and compliance data. Worldfavor is used by companies worldwide to collect and aggregate data, supporting numerous sustainability reporting processes annually.
– Sustainability reporting is becoming more and more important for companies. New laws are put into force, and stakeholder demands on transparency are higher than ever before. We wanted to investigate the current landscape of sustainability reporting, and that’s how this report came to be. Our mission was to learn more about how companies conduct the yearly report, what processes they have in place, and how an ideal reporting process could look like, says Frida Emilsson, Co-founder and COO at Worldfavor.
Key insights from the report
70% Uses sustainability reporting as a means to increase transparency 1/5 Says that their reporting has been directly affected by the pandemic 6/7 Publish the sustainability report on their own website 30% Are reporting for the very first time 41% Starts their reporting process as soon as last year's report is finished 58% Have difficulties when it comes to collecting data
The top 3 reasons for sustainability reporting
44% Develop a framework for action 70% Improve transparency and visibility 36% Legal requirements
How the report was created
The report Navigating the Landscape of Sustainability Reporting was compiled by Worldfavor in April 2021, with the purpose to get a greater understanding and a deeper insight in how companies and organizations report on sustainability.
Over 100 people from different companies and organizations conducted our survey, which included 21 questions about sustainability reporting. In some questions the respondents were given the opportunity to answer in their own words. The survey was conducted in Survey Monkey and sent out via email and shared on Instagram, LinkedIn and Twitter.