Sustainability Reporting On The Rise

An increasingly high number of retailers are following through on sustainability reporting, but others are lagging behind, says Roopa Dave, a partner with KPMG’s Sustainability Services practice. Speaking at the Retail Council of Canada (RCC) ‘Big Shifts, Small Steps: Insights from Sustainability Reporting Survey’ webinar, she said 75 per cent of Canadian retailers have released their organization’s progress, including their efforts to meet carbon reduction targets. “Many retailers have now adopted the framework to keep up with the evolving nature of sustainability disclosure,” said Dave. Understanding stakeholder expectations, monitoring emerging regulations, establishing appropriate governance, and implementing a reliable auditing process are key to changes and sustainability compliance within the retail industry. While some retailers ‘greenwash’ by spending more time and money on marketing initiatives to appear as environmentally friendly, many more are taking concrete steps to reduce their carbon footprint by partnering with non-governmental organizations (NGOs) to ensure that accurate information is being disclosed, she said.