As sustainability programs increasingly demonstrate cost-savings and operational efficiency, CFOs — not just environmental advocates — are pushing for better reporting.
In fact, 74 % of CFOs now believe measuring and reporting their total financial and non-financial environmental and social governance impact contributes to long-term success, according to a 2014 PwC survey. Another dramatic shift: CFOs are embracing renewable options like wind and solar like never before, as new financing options, rapidly declining technology costs and incentive programs deliver financial benefits that outweigh buying energy off the grid. Companies reap both sustainability and fiscal benefits, truly a watershed moment.
Challenge: As CFOs and other top executives become more invested in sustainability and renewables, reporting accuracy and reliability are essential. However, many companies have not yet developed the systems and processes to provide these types of reports. They may also have trouble connecting financial benefits to green energy and sustainability goals.
Solution: Make sure financial data is presented with sustainability metrics. In other words, you want to not only track greenhouse gas emissions, but also the cost and savings from reducing them, and how they relate to the products or services provided by a company. Contextualize the information so the connection between the adoption of renewable energy and other sustainability initiatives, and the bottom line is clear.
Download “6 for 2016: Sustainability Reporting Megatrends” to stay up to date.
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