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Sustainable development goals and reporting on taxes
The concept of sustainability and putting sustainable growth on world development agenda was first discussed in the Earth summit way back in 1992. By Sustainable development, we mean growth that meets the requirements of the present generation without undermining the capacity of the future generations to tend to their requirements and needs. This definition has been adapted from the definition phrased in 1987 by the Brundtland Commission. GE3S a sustainability reporting consultant is helping its clients maneuver their business across these sustainability challenges.
In the year 2015, the United Nation and its member states adopted the Sustainable Development Goals (SDGs) to meet the 2030 Agenda. The goals help charter a transformation between the year 2016 to 2030 that will result in putting the world on a sustainable development path. The 17 sustainable development goals have been set with clear targets and both government and private sectors are expected to help achieve the targets. As a sustainability reporting consultant, we have assisted our clients in streamlining their business activities with the UNSDGs.
There has been progressing on social, economic and environmental issues and targets however a lot is desired to be done. Sustainability needs to be integrated into the policy-making by governments and into business practices by corporates and into the lifestyles by the common people. Being a sustainability reporting consultant we are assisting our clients from both the public and private sector to embrace sustainability.
Reporting on taxes paid to governments by companies is also being increasingly reported by several companies. GRI had set up a committee to develop a standard on reporting on taxes in early 2018. The draft was competed and put in pubic space for consultation. The consultation has been recently concluded. More than 85 reviewers were received for the document. The reviews were received from a wide variety of stakeholders including NGOs, Businesses, and Investors. The technical committee is in process of reviewing the comments and is expected to release the approved version by end of this year.
Reporting on sustainability performance is of greater importance today than it was a decade ago. Sustainability reporting is considering an industry best practices rather than a brand building exercise. Investors, clients, NGOs, and even governments are now seeking the sustainability performance report from its companies. The sustainability reporting process in short incudes, identifying material aspects through stakeholder consultation, collecting performance data on these material issues and then presenting them in a complete, trans[aren’t and understandable form to the stakeholders.
GE3S a sustainability advisory firm has been working in the Middle East and South Asia region since 2010 and has assisted more than 150 clients in achieving their sustainability objectives. We are now looked as dependable sustainability reporting consultant by the middle eastern as well as the Indian market.
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