BUS211 Sustainability Reporting

We have a long history of reporting economic and financial data. Common standards for accounting reporting today make it relatively easy to compare the financial statements of one business with another.

However, financial statements mainly report on internalities, i.e. what is found within the businesses such as salaries, cost of goods sold, rent, etc. It says little about how the business interacts with its surroundings - the externalities. This contributes to many businesses today making decisions based on only part of the picture, and then the short-term perspective usually wins.

No business operates in isolation; on the contrary, they affect both climate, nature and social conditions, and the business's own ability to generate long-term earnings is also negatively affected by changes in climate, nature and social conditions. In order for stakeholders to be able to make good and long-term decisions, it is therefore important that the reporting shows the whole picture of the business, both internalities and externalities.

In line with the increased awareness of, among other things, climate change and the need for an adjusted course, the expectations are increasing that the business community and business leaders demonstrate greater social responsibility as a natural part of corporate governance. Investors today demand information about sustainability in order to assess various risk factors such as negative impact on the environment, reputation and financial risk.

The course deals with current laws, standards and practices for sustainability reporting. We take a closer look at the connection between legal requirements, operational strategy and company reporting.

Knowledge

Upon completing the course, the student will have:

• In-depth knowledge of why sustainability is on the agenda and why the business sector plays an important role
• Good understanding of the concept of sustainability reporting
• Insight into the development of laws and regulations
• Familiarity with the most important international reporting standards, regulations, and reporting requirements related to sustainability
• Insight into how sustainability reporting contributes to the development of the company's strategy
• Understanding of how to define material ESG factors for different industries and companies
• Knowledge of the connections and contradictions between environmental factors and social factors

Skills

Upon completing the course, the student will be able to:

• Conduct a stakeholder mapping and materiality analysis
• Structure a process to implement sustainability in the operational strategy of a company
• Explain key sustainability areas and related data in accordance with current legislation and EU directives
• Be able to carry out sustainability reporting in practice

General Competence

Upon completing the course, the student will have competence in:

• Current regulations and be able to keep up with future developments
• The connection between strategy, goals, activities, and reporting
• How to plan for an effective reporting process
• Being able to exchange professional viewpoints and participate in the public debate on the development of practices within sustainability reporting
• How reporting on corporate governance can be a driver for good processes related to risk assessment of internal and external conditions
• The connection between embedded social responsibility and corporate governance
• How to analyze sustainability information, ask critical questions about sustainability reports, verify and follow reporting principles