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Spend a few paragraphs discussing where to disclose sustainability reporting in audited financial statements (e.g., in...

Spend a few paragraphs discussing where to disclose sustainability reporting in audited financial statements (e.g., in a specific footnote) or in standalone sustainability reports?

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Answer #1

A sustainability report is an organizational report which focuses on environmental and social performance. Financial statements are a measure of the monetary health of the organization. They focus only on financial performance. Thus, it would not make sense to disclose sustainability reporting in audited financial statements.

A standalone sustainability report would be a much better option. A user would not have to browse through the entire financial statements to find the relevant social performance. A separate report would be detailed. If one has to disclose it as a footnote, the information will be very concise and will not serve the relevant purpose.

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