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What’s the difference between a Sustainability Impact Report and a Sustainability Impact Assessment?

While a Sustainability Impact Report and a Sustainability Impact Assessment are related (and in truth there’s a fair amount of overlap), they are distinct concepts and used in different ways.

 

Sustainability Impact Report

Typically released annually, a Sustainability Impact Report provides detail on a company’s environmental, social, and governance (ESG) performance, often including detail on energy use, waste management, carbon emissions, water consumption, labour practices, community engagement, and supply chain management.

The main purpose of a sustainability impact report is to:

  • Enhance a company’s reputation and demonstrate commitment to sustainable business practices.
  • Provide transparency and accountability on sustainability-related achievements and challenges.
  • Demonstrate compliance with (or progress towards) regulatory requirements and voluntary standards.
  • Support strategic planning and decision making on future sustainability initiatives and goals.

 

Sustainability Impact Assessment

While a Sustainability Impact Report measures and assesses performance to date (and current plans and strategies), a Sustainability Impact Assessment is a forward-looking document.

It is used to provide decision-makers, regulators, and planners with information on the predicted environmental, social, and economic consequences of a proposed project, policy, or business decision before it’s implemented.

The main purpose of a sustainability impact assessment is to: