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Sustainability reporting: A contrarian’s viewpoint

Sustainability reporting: A contrarian’s viewpoint. Lynn Patterson Director, Corporate Responsibility RBC lynn.e.patterson@rbc.com 416-974-1381. The facts. Source: Corporate Register CR Reporting Awards ‘ 08 March 2009. Why report?. 61.4. human rights. 61.0. energy/eco-efficiency.

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Sustainability reporting: A contrarian’s viewpoint

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  1. Sustainability reporting:A contrarian’s viewpoint Lynn Patterson Director, Corporate Responsibility RBC lynn.e.patterson@rbc.com 416-974-1381

  2. The facts Source: Corporate Register CR Reporting Awards ‘08 March 2009

  3. Why report?

  4. 61.4 human rights 61.0 energy/eco-efficiency 60.4 health and safety 59.4 climate protection 58.8 environmental policy environmental management of the production process 58.8 56.8 corporate governance 56.6 standards in developing countries 53.9 avoiding soil and water contamination 53.9 environmental management system 52.7 bribery and corruption 51.1 supply chain standards for social issues 34.5 corporate citizenship Stakeholders say they want to hear about: Source: Pleon

  5. Transitioning from “a report” to “reporting” Ad hoc Annual Report Marketing Vehicles CR Report/Review CR or sustainability website Responses to SRI analysts

  6. RBC’s reporting suite

  7. …plus a ‘create your own’ option

  8. So…what to include? • Issues that are relevant to your business (common sense) • GRI indicators (menu approach) • Areas of interest identified on SRI surveys • Competitive scan (financial services) • Input from stakeholders • Report rankers (CERES, Stratos) • Content of award-winning reporters (UK, Brazil, Canada, US) • Current events (trends, scandals, media campaigns etc.) • Codes of conduct or voluntary commitments your company has signed (UN Global Compact)

  9. Example: CERES/ACCA

  10. RBC’s reporting cycle Spring Summer Fall Winter

  11. RBC reporting strengths and weaknesses • Readable style • Consistent structure year over year • 3-year comparative data • Discussion of issues that are relevant to the business • Good mix of formats for various audiences • Few or no targets • No external verification • Lack of specific information about risk, liabilities and exposure within our investments arm (carbon etc). • Lacking specific detail on CR governance (such as job titles (!) • Too much good news

  12. Impact

  13. Reality Check

  14. Are these your target audiences? Who’s reading CR reports? CR Consultants Corporate CR Professionals Students Academics

  15. How attentive are readers?

  16. How easy are reports to read?

  17. Who has a vested interest?

  18. 1. Surveys 2. Results pre-packaged and sold 4.Desire for increased disclosure 3. “Seals of Approval” used for company PR Who’s making money?

  19. Is CR content really ‘material’? “Whatever else emerges from this crisis at the heart of our financial system, a total overhaul in the content and presentation of company annual reports is now due. [B&B’s Corporate Responsibility report was 28 pages long] … 7 times longer than the coverage given to risk management and control. And here we find top-notch twaddle: deep layers of low-grade corporate mince that is now routinely served up by the bucketful in annual reports.” Bill Jamieson, Upon reading the Bradford & Bingley 2007 Annual Report From The Scotsman

  20. Reporting does not = performance

  21. 5 Best Practices

  22. 1. Focus

  23. 2. Report targets and performance

  24. 3. Drill down on key issues

  25. 4. Consistency for comparability

  26. 4b. Consistency across media

  27. 5. Opportunities for conversation

  28. Lynn Patterson Director, Corporate Responsibility RBC lynn.e.patterson@rbc.com 416-974-1381

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