How can you overcome challenges with integrated reporting for ESG sustainability?

2 Establish your data management system

Data management is the process of collecting, verifying, storing, analyzing and reporting your ESG data. It is essential for ensuring the quality, consistency and comparability of your integrated report. To establish your data management system, you need to define your data sources, indicators, boundaries, units, methodologies and protocols. You also need to implement data quality controls, such as validation, verification and audit. You should use standardized frameworks and tools, such as the Sustainability Accounting Standards Board or the Task Force on Climate-related Financial Disclosures.

3 Engage your internal and external stakeholders

Stakeholder engagement is the practice of involving your internal and external stakeholders in your integrated reporting process. It can help you gain feedback, insights, support and buy-in from your employees, managers, board, investors, customers, suppliers, regulators and society. To engage your stakeholders, you need to identify and map them, communicate and consult with them, respond and report to them and evaluate and improve your engagement. You should use various channels and formats, such as surveys, interviews, workshops, webinars and newsletters.

4 Align your report with best practices and standards

Alignment is the degree to which your integrated report follows the best practices and standards in the field of integrated reporting and ESG sustainability. It can help you enhance your credibility, comparability and assurance of your report. To align your report, you need to adopt the International Integrated Reporting Framework and the Global Reporting Initiative Standards as your main references. You also need to consider other frameworks and standards, such as the UN Global Compact, the UN Guiding Principles on Business and Human Rights and the UN Sustainable Development Goals.

5 Seek external assurance for your report

Assurance is the process of obtaining an independent opinion on the quality, accuracy and reliability of your integrated report. It can help you increase your confidence, trust and reputation among your stakeholders. To seek external assurance for your report, you need to select a qualified and reputable assurance provider, such as an accounting firm, a consultancy firm or a certification body. You also need to define the scope, level and criteria of your assurance, such as the International Standard on Assurance Engagements 3000 or the AA1000 Assurance Standard.

6 Communicate your report effectively and strategically

Communication is the way of delivering your integrated report to your target audiences and conveying your value proposition and impact. It can help you raise your awareness, influence and engagement among your stakeholders. To communicate your report effectively and strategically, you need to identify and segment your audiences, design and format your report, disseminate and promote your report and measure and evaluate your communication. You should use various media and platforms, such as print, online, social, video and events.