How Sustainability Reports Boost Trust, Accountability
Contributed by The Ashkin Group
In 2024, more organizations will publish sustainability reports. These reports reveal how a company operates and how well it addresses its environmental impacts, social initiatives, and governance policies.
Steve Ashkin, the leading expert on sustainability in the professional cleaning industry, likens sustainability reporting to a CARFAX report for a used car. He explains: "A CARFAX report gives you a detailed overview of a car's history, such as its previous owners, accidents, repairs and mileage."
Similarly, sustainability reporting gives you a comprehensive picture of a company's performance in terms of sustainability and ESG (environmental, social and governance) criteria. It can help you decide whether to invest in, partner with, or buy from a company.”
Ashkin says that sharing this information helps an organization build trust and credibility among investors and attract new customers and more dedicated employees.
A strong sustainability report shows that a company is aware of its sustainability and ESG responsibilities, willing to act on them, and be accountable for them.
That’s the gist of his new article and video by Ashkin entitled, Sustainability Reporting: A CARFAX for the Cleaning Industry, published on ISSA Media.
“I first realized the connection between CARFAX and sustainability while helping my son select a used car,” says Ashkin.
“We looked at used cars, but realized without a CARFAX report, there was no way to tell if [the car] had been in an accident, was poorly or properly maintained, or had issues.”
Ashkin explains that the CARFAX report “allows buyers to avoid costly mistakes, just as a company’s sustainability report will reveal a company's sustainability performance now and into the future.”
In the article and video, Ashkin adds that a comprehensive sustainability report “can build trust by showing a company’s dedication to sustainability and ESG objectives and readiness to be accountable.”
This is what customers will increasingly demand to see in 2024 and beyond.
“Sustainability reporting is already expanding rapidly,” says Ashkin “Anticipate more sectors to request their partners, customers, and suppliers for their ‘CARFAX’ reports in the coming years. It’s the future, and to succeed in the future, industries need to be aware of this.”