Financially material sustainability reporting plays a crucial role in business as it allows organisations to openly communicate their efforts in addressing current sustainability challenges. By disclosing their sustainability practices and the risks and opportunities they support, companies demonstrate a commitment to transparency and accountability, driving positive change and advancing the collective goal of creating a more sustainable future.
IFRS and SASB Standards
Many companies have provided sustainability disclosures using SASB’s Sustainable Industry Classification System (SICS®). With the SASB now part of the IFRS family, those standards continue to play a key role in the first two IFRS Sustainability Disclosure Standards:
- IFRS S1 – General Requirements for Disclosure of Sustainability-related Financial Information
- IFRS S2 – Climate-related Disclosures.
However, implementing the standards can pose several challenges for companies. These include difficulties in accessing and ensuring the quality of sustainability-related data, integrating IFRS Standards with existing reporting frameworks, and navigating subjectivity and interpretation when determining materiality and selecting relevant metrics.
Overcoming these challenges demands concerted efforts from companies, regulators, investors and other stakeholders to enhance data infrastructure, streamline reporting processes, and foster greater transparency and collaboration within industries.
Therefore, as companies strive to integrate sustainability into their core strategies, getting expert advice and adopting a proven framework becomes necessary for effective sustainability reporting and value creation in the long term.
Speeki has the solution for IFRS Standards reporting
Speeki has released reporting features within the Speeki Platform for IFRS Standards, helping companies streamline their sustainability reporting across IFRS S1 and IFRS S2.
While other solutions focus primarily on report generation, Speeki goes beyond by:
- building management systems to align with each company's unique objectives and materiality
- providing an advanced suite of tools, including surveys, incident management and declaration and disclosure features, to communicate and collect ESG data for reporting
- centralising activity documentation and data collection.
This approach streamlines sustainability reporting readiness and promotes efficient content reuse for multiple disclosure requirements: IFRS Standards (IFRS S1 and S2 as well as TCFD), ESRS, BRSR and more.
Speeki offers innovative reporting features for various standards
Speeki's sustainability reporting solutions encompass an advanced suite of tools and features to make sustainability reporting easy. Key features include:
- collaboration with various team members working on your sustainability initiatives
- unified sustainability standards access – simplify sustainability reporting by accessing various standards in one place
- writing once, reporting multiple times across various standards, including IFRS Standards, ESRS and more – streamline sustainability data gathering and reporting across multiple standards with our mapping intelligence
- AI integration – populate your profile and metrics with Speeki’s AI assistant, Nicole
- custom reports and templates – easily edit templates and generate custom reports
- user-friendly navigation – navigate risk areas and questions effortlessly with convenient filtering options
- dashboard monitoring – stay informed by tracking multiple standards and risk areas via our ESG dashboard
- holistic ESG programme management – efficiently manage broad ESG risk areas and customise team structures for streamlined data collection.
Speeki: Your trusted sustainability reporting partner
At Speeki, we recognise that sustainability reporting is a continuous journey. Our platform is your companion on the path to a sustainable future, making every step informed and effective.
For more information about Speeki’s comprehensive reporting offerings, visit this page or visit us at LinkedIn.