What is Sustainability and Corporate Social Responsibility?
Corporate Social Responsibility is a corporate initiative to assess and take responsibility for the company’s effects on the environment and impact on social welfare. It can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change. This corporate self-regulation is integrated into the entity’s business model.
Sustainability is an important tool in creating a corporate image and reputation but also in reducing costs and generating revenues in the long run. If this is something your business needs to implement, speak to our team of experts for bespoke Corporate Social Responsibility advice.
When companies and organisations consider integrating sustainability into how they operate, they need to consider four key areas of their performance and impacts: Economic, Environmental, Social & Governance.
What are sustainability reports?
Sustainability reports are based on non-financial information and are the key platform to communicate sustainability performance and impacts. They are a tool to show stakeholders how the organisation’s strategy, governance and performance lead to the creation of value.
They cover area such as:
Health and safety
Which entities report on sustainability?
All types of organisation can report on sustainability.
Which guidelines can be used to report on sustainability?
A number of reporting guidelines or standards have been developed to serve as frameworks for sustainability reporting. The GRI (Global Reporting Initiative) guidelines are currently the most used.
RSM Belgium can contribute to the acceleration of your transition
RSM Belgium can assist your business with the following specialist sustainability services:
Introducing CSR in the boardroom as a major strategy for change/long term survival
In the coming years, organisations will be facing a number of global trends, such as rising population, increasing scarcity of raw materials and water, and climate change. These mega forces have far-reaching consequences for the organisational model (eg, higher commodity prices and higher demands of stakeholders), but can be transformed into opportunities. RSM is capable of bringing these topics to the boardroom table.
It takes a well-planned strategy to be successful and manage risk in the low carbon economy. We can help demystify this complex issue and assist you in taking concrete actions to identify competitive advantages, increase operational efficiency and mitigate risk.
Heading for Sustainable Corporate Governance
Regardless of the size of organisations, good governance will become more and more important especially in light of the increased transparency required in supply chains. RSM can assist your organisation by designing a blueprint for good governance and a clear structure. We can provide training in sustainability matters and offer Corporate Social Responsibility advice to your directors and managers.
Providing Integrated/non-financial Accounting & Audit services
In financial reports, it’s important that both financial stakeholders and the image of the entity presents the company in a fair manner. With the Global Reporting Initiative (GRI) a new standard is being set for organisations to report on non-financial information.
RSM Belgium can help you collect data and write a sustainability report, or the sustainability topics as part of an integrated report.
Leveraging our tax expertise in the multi-national world on clean energy and heading towards sustainable tax planning
A lot of jurisdictions in Europe offer incentives for measuring the use of utilities such as green energy. To support socially responsible measures, we offer consulting on the implementation of these services to help lower the cost. For example, for energy taxes and other excise duties, social security contributions and other taxes.
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