Transforming Business Culture refers to the need of scaling up a company’s efforts in the area of corporate responsibility and sustainable development in order to address systematic environmental and societal risks, challenges and opportunities.
When the discussion has moved toward s investing in, measuring and reporting on environmental, social and governance metrics, business culture is now working towards becoming transformational and adopting practices where companies provide a benefit to society, and where profits enable both value creation and fair and equitable compensation for natural and societal resources.
At CERB, our emphasis is to create a nexus where establishing a business culture with a focus on sustainable development as its core is a normal practice. This can be enabled through a culture of disclosing on material non-financial indicators for a company in the same manner as material financial indicators. Hence, a transformational company culture supports acquiring both the technical expertise and policies for acquiring and maintaining the highest standards for reporting.
In the course of CERBs engagement cycle, CERB will identify the best practices in reporting and how businesses can commit to and report on the United Nations Sustainable Development Goals.
CERB will advocate the use of the highest standards of reporting. Integrated reporting is one such standard. Integrated reporting can be identified as a process founded on integrated thinking that results in a periodic integrated report by an organization about value creation over time and related communications regarding aspects of value creation (www.integratedreporting.org).