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Today, IFAC released a publication, “Sustainability Information for Small Businesses: The Opportunity for Practitioners,” exploring the diverse benefits of embracing sustainability information.
The
report examines the importance of readily available, relevant, and
reliable sustainability information for achieving better-informed
decisions, enhanced strategic and risk management, and more thorough and
valuable reporting to external stakeholders.
Small businesses make up more than 90 percent of businesses worldwide; they are critical to achieving sustainable outcomes for economies, the environment and society. They can find significant advantages from establishing (or enhancing) processes, systems and controls for identifying, measuring, and analyzing sustainability information. This can include improved efficiencies and performance, as well as differentiation from competitors. Small businesses are also likely to be subject to sustainability-related reporting information requests from a diverse range of stakeholders, including large companies, banks, and suppliers—if they are not already.
This publication was developed with advice and guidance from the IFAC Small and Medium Practices (SMP) Advisory Group and builds on the Advisory Group’s work on practice transformation. ...
more at IFAC