• Linkedin
  • X
  • Bluesky
  • Facebook
  • Instagram
Skip to content
SustMeme Banner logo - The Word on Sustainability: Economics, Environment + Social Equity

SustMeme

THE WORD ON SUSTAINABILITY: Economics, Environment & Social Equity

  • Home
  • Channels
    • Biodiversity & Conservation
    • Built Environment
    • Business & Finance
    • Circular Economy
    • Climate & Energy
    • Transport & Mobility
    • Channel Sponsorship
    • Editorial Archive
  • Events
    • Webcast Sponsorship
    • Big Six Interviews
  • Guest Blogs
    • Synopsis
    • Draft Copy
  • Subscribe
  • About
    • Commissions
    • Top 500s
  • Contact
November 2, 2022 Jim McClelland

Companies struggle on sustainability reporting data

Person (female) pictured on right against backdrop of dense green foliage, blowing over model wind turbine they are holding.

Despite countless organisations being aware of the importance of responsible sustainability reporting, new industry insights reveal many still face significant challenges when it comes to producing the complex data-driven disclosures. As result, barely 1 in 3 actually report, as yet.

According to research by Bureau Veritas, only a third of those surveyed (34%) currently publish a sustainability report, however, over three quarters (76%) expect to produce one over the next few years.

When questioned on the business drivers for compiling such a report, the reasons that came out on top were: increasing customer trust; enhancing shareholder value; and ensuring regulatory compliance. 

In-house CSR departments oversee ESG Strategy

The survey of 1,000 clients, across 101 countries and varying sectors, also divulges that three quarters (75%) rate their management above average when it comes to engagement with sustainability reporting. Encouragingly, more than two thirds (68%) already have an in-house expert or CSR department to oversee their ESG strategy. 

With mandatory assurance coming soon under the EU’s new Corporate Sustainability Reporting Directive (CSRD), Bureau Veritas commissioned this global report to assess the sustainability reporting landscape across the world and advise on next steps in order to ensure compliance. Of those questioned, around a third are not even aware of any such initiative or legislation that will affect their reporting requirements. 

Companies are still not well equipped to aggregate their ESG data with four fifths (81%) admitting they would benefit from more education on standards and good reporting practices. Topping the list of most required additional resources are knowledge, tools for emissions calculations, time and budget constraints. 

Barriers for organisations producing the specific industry report include data collection, the complex number of frameworks surrounding it and insufficient internal resources. 

The gap between company ambitions and actions is clear, with data both the problem and the solution for many, explains David Murray, Technical Director for Sustainability at Bureau Veritas:

“Sustainability landscape reporting is a highly technical subject which is still evolving. It comes with many challenges including how to evaluate and adapt data collection to facilitate the results. Our survey clearly shows there is positive awareness on the impacts of reporting, however, there remains a lack of knowledge and understanding related to gathering intrinsic data.”

Encouragingly, half of those surveyed by Bureau Veritas are already seeking support from specialist consultants to help them navigate the reporting process. When asked about the drivers for third-party verification or assurance, the top reasons for investing were: to ensure the accuracy, relevance, completeness and consistency of the information reported; to demonstrate the depth of commitment to the social and environmental accountability; and to provide additional confidence for SRI (socially responsible investment) decision-making. 

Created in 1828, Bureau Veritas is a global leader in Testing, Inspection and Certification (TIC), helping clients meet the growing challenges of quality, safety, environmental protection, and social responsibility. The company specialises in innovative solutions that go beyond simple compliance with regulations and standards, reducing risk, improving performance and promoting sustainable development. Listed on the Euronext Paris Stock Exchange, Bureau Veritas has 78,000 employees worldwide, with more than 1,500 offices and laboratories, in 140 countries.


Further Reading:

  • View on-demand webinar on findings of Bureau Veritas sustainability reporting survey;
  • More about Bureau Veritas (UK & Ireland); plus company operations worldwide;
  • More on the impending EU Corporate Sustainability Reporting Directive (CSRD);
  • Also on SustMeme, ESG is not being taken seriously by companies;
  • Also on SustMeme, Davos: Storm brewing up in the Swiss Alps;
  • Also on SustMeme, Scoring analytics platform to unlock potential of ESG data;
  • Also on SustMeme, CSR job vacancies up 74%, as companies focus on ESG;
  • Also on SustMeme, Supply Chain: ESG strategies mission-critical for sustainability;
  • Also on SustMeme, ESG ups the stakes for supply-chain risk and reward;
  • Also on SustMeme, The problem with ESG: ‘Responsible Investment’ in The Sunday Times.

  • Check out the SustMeme CSR & Business Top 500 global ranking; plus
  • The full archive of stories on the SustMeme CSR & Business Channel.

>>> Do you have sustainability news to broadcast and share? If you would like to see it featured here on SustMeme, please use these Contact details to get in touch and send us your Press Release for editorial consideration. Thanks.


Share this:
LinkedInXBlueskyFacebookEmailShareSubscribe
A. News Channel: Business & Finance
Corporate Social ResponsibilityCSRDataEnvironmental Social and GovernanceESGReportingResponsible BusinessSRISustainability

Post navigation

Previous Post:Not just carbon: Policymakers undervalue forests
Next Post:Calculating true carbon footprint of the World Cup

Related Posts

Wordcloud created mostly using tags from the accompanying Guest Blog presented in the shape of red megaphone on black background.

Why credibility will define sustainable brand growth

May 20, 2025
Recording studio mixing desk with two chairs and huge multi-track console, plus speakers above window looking out into performance space.

Carbon accounting hits right note in the studio

November 13, 2024
Close-up of bare-chested boxer Oleksandr Usyk training with speed bag.

Heavyweight champ backs Ukraine #FightForLight

May 8, 2024
Abstract close-up of algae on surface of a pond to suggest greenwash.

Rise in ESG risks linked to greenwashing

October 4, 2023
Indigenous peoples in crowd of protestors, wearing traditional headdress and photographed from behind, with banner above showing word 'CRISIS'.

Toolkit for investors on Indigenous rights respect

April 25, 2023
Stars Rose Leslie and Kit Harington pictured in still from the film, seated looking unhappy at opposite ends of settee.

Are big banks still secretly in love with fossil fuels?

April 18, 2023

Subscribe to SustMeme

SustMeme logo with strapline — 'The Word on Sustainability: Economics, Environment + Social Equity.'

Recent Posts

  • Close-up of white flower blossoms amongst green leaves on branches. Biggest biodiversity time-series database 2.0
  • Graphic of adults enjoying sustainable lifestyles and tech — EV charging, solar on buildings, cycling, etc —  in green landscape with wind turbines. Gaps in key sustainability data from manufacturers
  • Aerial view of e-methanol production facility, set in countryside, with Europe's largest solar park stretching out across multiple fields above. First large-scale commercial e-methanol facility
  • Wordcloud created mostly using tags from the accompanying Guest Blog presented in the shape of red megaphone on black background. Why credibility will define sustainable brand growth
  • Footballer Harry Kane pictured in black Reflo hoodie signing paper at black desk infant of multiple screens displaying Reflo name and logo. Winning team scores first for circularity in football
  • Mock-up of timber CityAlko store with solar roof in Pale Green to match colour palette of weathered copper on historic buildings. Adding colour to design aesthetics of in-roof solar
  • Energy storage power station at sunrise, with dozens of storage units in foreground, pylons and station infrastructure behind amongst green fields. Planning for grid-scale energy storage in Scotland
  • Illustration shows large lake development with mountains behind, tree islands in centre, canoes on water, pedestrians on walkways and bridges. Urban regeneration designed for climate resilience
SustMeme Magazine is published by McClelland Media Ltd.

Sign up to SustMeme

Subscribe FREE and join the SustMeme Community!

Click HERE — no card, no cost.

Receive a weekly update and notification of calls for comment to feature in articles and news.

Plus, show your support for independent journalism on sustainability issues. Thanks!

Share this:
CopyFlipboardHacker NewsLineMixPinterestPrintRedditTumblrVKXingYummlyBufferMessengerPocketSMSTelegramWhatsApp