Project Case Study
Sustainability Reporting for a Public Networking Company
Challenge
The Client was looking to formulate a new approach to its annual Corporate Responsibility Reporting. In developing a new strategy, the company wanted to find a way to better communicate the company’s commitment to responsible business practices to the investment community and customers. The company was also looking to close the gap between their sustainability disclosures and those of industry peers.
Solution
Working directly with the Client’s Chief Sustainability Officer and extended Corporate Responsibility Team, FSI developed a detailed project plan that included a Materiality Assessment and a desktop driven benchmarking exercise of 6 competitors’ public disclosures. The Materiality Assessment helped them better understand the issues that were most relevant to their stakeholders and industry, leveraging both industry research and survey-based results. The benchmarking exercise served two purposes. First, we wanted to look at what ESG metrics the competitors were reporting and second, we wanted to look at what commonly used standards and frameworks their competitors were reporting against. These two exercises formed the basis for developing the Client’s FY 2024 Corporate Responsibility Report.
Impact
In September of 2024, the Client released a new sustainability report that was well received by executive management, internal sales, employees and customers. The final deliverable concisely and effectively communicated the firm’s commitment to environmental stewardship, social impact, sustainable product development and governance. The report highlighted how the company was addressing the most material issues facing their industry – business ethics, data privacy and legal/regulatory compliance – as well as the ways in which the products they are developing aid in helping their customers meet their own sustainability goals and objectives. Compliant with SASB and GRI, the report had a noticeable impact on increasing the company’s scores with ESG raters and rankers as well.
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