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🗞️ Driving the news: A recent study by Mitie highlights a growing concern among UK firms over the complexity and volume of sustainability reporting
• Dubbed "legislation lethargy," this issue arises as companies grapple with reporting to multiple ESG frameworks, complicating their sustainability efforts
🔭 The context: The survey reveals that nearly half of sustainability decision-makers are reporting to at least three different ESG frameworks
• This multiplicity not only burdens companies but also muddles the clarity and efficiency of sustainability reporting, leading to a sense of overwhelming
🌍 Why it matters for the planet: Effective sustainability reporting is crucial for tracking progress toward environmental goals and ensuring corporate accountability
• However, the current landscape of overlapping and sometimes conflicting reporting requirements can hamper meaningful action toward sustainability
⏭️ What's next: The findings suggest a need for streamlining ESG frameworks to alleviate the burden on companies and enhance the quality of sustainability reporting
• Simplifying these processes could lead to more accurate and actionable insights into corporate sustainability efforts, ultimately fostering a more sustainable business landscape
📈 One stat: Almost 50% of sustainability decision-makers are reporting to at least three different ESG frameworks, illustrating the complexity of the current sustainability reporting landscape.
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