1. Spend Time to Conduct a Comprehensive ESG Audit and Materiality Assessment. Assess your organization’s current impact on the environment, society, and governance structure, as well as which of these ESG issues are material to or influence your financial bottom…Read full post
5 Benefits of Creating a CSR Report for Your Organization
In a recent article, we explored what a corporate social responsibility (CSR) report is and how to create one for your company/organization. To recap, corporate social responsibility is the idea that a business has a duty to the society and environment in which it operates. A CSR report is an internal and external-facing document that communicates your company’s CSR efforts and their impact on the environment and community.
So, why should your company create a CSR report? In this article, we explore 5 benefits of creating a CSR report.
The Benefits of Creating a CSR Report
While CSR reports are not yet mandatory in the U.S. (they are mandatory in some countries, though), your company should still create one annually, as there are some major benefits:
- A CSR report enables your organization to communicate its social and sustainability efforts to employees, customers, community members, and investors. This fosters trust, transparency, and improved reputation.
- If your company has been successful in its CSR efforts, the CSR report becomes a valuable public relations and marketing asset.
- Publishing a CSR report holds your company accountable to its sustainability efforts and helps prevent greenwashing.
- The efficiency projects needed to make your company more sustainable will help reduce energy use and lead to lower energy bills.
- Publishing an annual CSR report allows your company to benchmark its progress year after year and see what tactics are working and what areas still need to be improved upon.
How WatchWire Can Help You Create a CSR Report
If you decide to create a CSR report for you company, you will need to have all your energy and sustainability data collected and in one place. This includes energy, emissions, and waste data.
WatchWire is a comprehensive energy and sustainability management platform that gathers, tracks, verifies, and measures your energy and emissions data, all in one place. In addition, WatchWire is fully integrated with multiple sustainability frameworks like the Sustainability Accounting Standards Board (SASB), the Global Real Estate Sustainability Benchmark (GRESB), ENERGY STAR Portfolio Manager, the Task Force on Climate-Related Financial Disclosures (TCFD), and more.
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