The 2023/24 reporting season in review

In my little corner of the world, I’m finally finding time to get out into the garden. As the peak of sustainability reporting season is drawing to a close, I’m enjoying getting dirt under my fingernails and reflecting on the past nine months.

A number of the ESG and sustainability reports I worked on this year will be published soon, blooming just like the peonies and irises that stand sentinel along my garden fence as I write this post.

Over the past 18 months, I’ve been very fortunate to write reports for two Fortune 10 companies. I’ve also translated and written ESG/sustainability reports for companies in the healthcare, renewable raw materials, logistics, furniture, and beauty retail spaces.

What have I learned from these projects?

·      Language sensitivity: Legal teams are scrutinizing reports more closely than ever and are hyper-focused on wording. This year, the terms attracting the most attention include ‘impact’ and ‘ensure.’ In the U.S., companies are extremely sensitive to the use of the terms ‘DEI’ and ‘ESG’, with their inclusion or exclusion often based on C-suite attitudes towards these issues.

·      Standards and frameworks: More and more companies are reporting in accordance with GRI, referencing ISO standards, having their targets validated by SBTi, and starting to consider how to deal with the Taskforce on Nature-related Financial Disclosures.

·      Biodiversity/nature-based services: This was this year’s hot topic, with more reports either mentioning biodiversity conservation and nature-based services for the first time or giving greater coverage to this subject.

·      Preparation for upcoming legislation: Almost all of the companies whose reports I worked on in 2023/24 have international operations and are getting ready for the EU Corporate Sustainability Reporting Directive (CSRD). Many of them are in the process of drawing up double materiality assessments for the first time.

·      Longer reports, more executive summaries: As companies include more information in their disclosures, there is a growing awareness that these reports are far too long for the average reader. Almost all of this year’s reports will be published with an executive summary, condensing the most important information into easily digestible highlights.

Of course, these insights are based on a small sample size. It will be interesting to see how things change in the next year.

Once I’ve finished clearing out the garden, I’ll start the weeding process

for my business, too, carefully trimming away any overgrown parts to create healthier growth in the 2024/25 season.

For me, that means a website refresh, a greater focus on sustainability report writing services, and a renewed dedication to enjoying my garden every once in a while.