Sustainability Reporting & Data Collection Strategies Outlook 2024

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Sustainability Reporting & Data Collection Strategies Outlook 2024

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Business and biodiversity basics

Sustainability reporting poses one of the most significant challenges for sustainability professionals today. The regulatory need for reporting – and the data that needs to be reported – continues to grow, with more and more companies facing these types of requirements.

Reuters Events' Sustainable Reporting and Data Management Document, which uses unique and proprietary data and insights from more than 3,000 of the company's professionals, offers critical and actionable insights to strengthen its sustainability reporting function.

Key findings of the 32-page report include:
  • When it comes to researching current sustainability reporting strategies, only 20% of respondents are fully confident in their organization's ability to produce accurate reports, so what are industry leaders doing differently?
  • Trends in sustainability reporting for 2024-2027 reveal that the evolving regulatory landscape poses a significant risk to reporting, with 54% of respondents expecting to report on externally verified Scope 3 emissions in the next three years. How are organizations preparing for this?
  • Investment will be geared towards more advanced tools, especially AI, but experiences with these tools differ widely. Which technologies offer the best cost-effectiveness and functionality?
  • Data governance, early technology issues, and lack of supply chain engagement were mentioned as particularly sensitive points.

Organizations are turning to an ever-growing set of tools and technologies to improve their sustainability reporting and data collection efforts, but this is far from an exact science. The lack of a single solution for reporting, the multitude of reporting frameworks and languages that need to be adopted, and concerns about third-party data are some of the top challenges facing sustainability teams today.

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