Ever wondered what your peers spend on CSR reporting?

Lack of resource, getting people to read reports and stakeholder engagement are the biggest barriers to CSR reporting, according to a recent 2degrees survey.

Nearly three-quarters of sustainability professionals ranked CSR above seven out of 10 in relation to their business objectives (with one being low and 10 being high.)

Meanwhile, most organizations dedicate between £20K - £49K of their budget to CSR reporting activity.

These are just some of the key findings from a recent 2degrees CSR reporting survey, which aims to help organizations identify key trends in CSR reporting, stakeholder engagement and materiality.

In total 110 organizations were surveyed, most of which indicated that transparency with stakeholders , promoting their sustainability progress or successes and reputation management was their main motivation behind CSR reporting. Meanwhile, the main benefits of reporting were cited as enhancing reputation both internally and externally and stakeholder engagement.

In terms of the stakeholder groups, customers are overwhelmingly the target, identified by just under half of respondents (45%) as being most important to their CSR strategy. Meanwhile, suppliers are clearly still new to the agenda, with only 3% aiming their efforts at this group.

And what about the challenges around reporting? The biggest hurdle for respondents was overwhelmingly time, getting people to read their report and stakeholder engagement and dialogue.

The most popular time of year to publish the report was Q2 (35%) with just over half (54%) regularly communicating CSR updates throughout the year alongside the annual report.

This survey was conducted as part of the 2degrees Stakeholder Dialogue Service. Find out more.

You can download the infographic below.

This survey was conducted as part of the 2degrees Stakeholder Dialogue Service. Find out more.

Embedded content: https://www.2degreesnetwork.com/services/stakeholder-dialogue/

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