CHALLENGES FACED IN SUSTAINABILITY REPORTING

Updated: 7 days ago



Companies required to provide sustainability reports for their stock-listed firms have experienced difficulties meeting this requirement and thus risk the possibility of not being in compliant. CHALLENGES NORMALLY FACED BY CLIENTS Employees at many companies have major challenges completing sustainability reports due in part to their level of complexity. Most employees have not prepared sustainability reports in the past and as a result, have some uncertainty and apprehension about the level of detail that’s required. Sustainability reports require specialized training in addition to input from upper and middle management. This is often difficult to accomplish when using unreliable data. Few staff members have the knowledge needed to adequately pull the required information together with confidence to provide an acceptable sustainability report. Often questionable data is used, which lends itself to even bigger problems. And most importantly, many staff members wait until the deadline approaches before any action is taken. This often results in staff members feeling pressured when the deadline gets closer and the reports are incomplete. The reports are mandatory and must be submitted by the deadline to meet the compliance requirements as per the SGX Reporting Guidelines. In addition to that, if they are not prepared properly, the SGX may contact the company for not being in compliance. HOW OUR COMPANY CAN HELP Companies who struggle with sustainability reporting need the assistance of a qualified CFO who is knowledgeable and capable of compiling an accurate sustainability report by the deadline. Our Company offers part-time CFO services in an effort to address the challenges that many companies face concerning accurately preparing sustainability reports. We offer guidance in the area of obtaining the right information that needs to be shared with the appropriate parties. We also walk clients through the process of obtaining a list of: - Potential material issues - EG provisions on the guidance of information that needs to be shared - Material KPI (GRI) Global Reporting Standards) OUTCOMES AND RESULTS Our outcomes and results are measured based on efficiency and on cost savings whenever possible. They are reported in percentages based on poor or improved performances in each of these areas. BEST PRACTICES When performing services, our firm only uses best practices as required by the SGX.


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